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Corrupt Government
See other Corrupt Government Articles

Title: Other people's money pays for your Government Motors Volt
Source: Yahoo News
URL Source: http://green.yahoo.com/blog/ecogeek ... -7-500-of-your-chevy-volt.html
Published: Jan 24, 2011
Author: Hank Green
Post Date: 2011-01-24 12:46:36 by Happy Quanzaa
Keywords: None
Views: 2840
Comments: 2

U.S. government will buy $7,500 of your Chevy Volt

No one has been happy to see the price point of the Chevrolet Volt continue to rise. Initially engineers were pleased to hear that I'd pay as much as $30,000 for the car. Now GM is projecting a cost closer to $40k.

That might all change thanks to a bill passed Friday (amid a bunch of other good news for car companies). The Bill gives a tax credit to buyers of plug-in vehicles. Each plug-in automatically gets a $2,500 cut, then you get an additional $417 per kwh for batteries greater than 4 kwh. That works out to $7,500 per Volt, which could push the base price below $30k.

The tax credit will only apply to the first 250,000 plug-ins sold, and will be phased out over the course of the following fiscal year. In the end, it will cost the federal government about $750 million.

So get ready to buy your plug-ins folks! The price just dropped more than the cost of my current car!

Via GM-Volt

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#1. To: Happy Quanzaa (#0)

Screw that.

I'm building a '68 Camaro, that'll run a 454 BBC, Jimmy 6-71 huffer, and dual fours. I'm debating whether I wanna' run straight pipes, race-mufflers and/or cutouts, so that I can annoy the smug little bastards in their electric cars, when I pass them by...

What's your vote- straight pipes or the race mufflers w/cutouts?

I HATE idiot greenies...

ME: Thanks for admitting that you ARE trying to spin this (AZ shooting, and terrorism) onto Palin, and conservatives in general.
Brian S(ocialist): I have never hidden that fact...

"There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." -- go65, LF's resident mental giant --

Capitalist Eric  posted on  2011-01-24   14:43:18 ET  Reply   Trace   Private Reply  


#2. To: Happy Quanzaa (#0)

U.S. government will buy $7,500 of your Chevy Volt

I'm sure you had no problem with this...

Buy a Hummer, Get a $25,000 Tax Break

By MARCUS BARAM June 28, 2007

Shed a tear for luxury SUV owners.

Because they're on the verge of losing a perk that comes with purchasing a Hummer or a Cadillac Escalade -- getting a $25,000 tax deduction.

It's one of the many loopholes buried within the fine print of the tax code: Business owners who purchase heavy luxury SUVs, those weighing over 6,000 pounds, get to take deductions up to $25,000.

Now some members of Congress are pushing to close the so-called Hummer Tax Loophole. Led by Rep. Earl Blumenauer, D-Ore., the Ways and Means Committee passed an energy bill last week that is expected on the House floor next month.

"We're allowing people to buy a huge expensive gas guzzler and get a benefit that was never intended for them," Blumenauer told ABCNEWS.com.

He explains that the provision in the tax code was originally intended to allow farmers and small-business owners to recover the cost of buying trucks and heavy-duty working vehicles. "But that was before the explosion of huge SUVs like Cadillac Escalades and now we're providing a tax break for a luxury car."

Blumenauer said that the new bill includes provisions for legitimate business use by exempting farm vehicles, vans, flatbed trucks and school buses from the closure of the loophole. He predicts that the provision will give back to the government about $750 million over five years, which will be used to promote conservation and alternative energy.

Supporters of the provision, including the Natural Resources Defense Council and Taxpayers for Common Sense, argue that it's a much-needed correction to a egregious loophole in the tax code.

"The purpose initially was to help farmers but the problems grew in how it was being exploited," said Keith Ashdown, vice president of Taxpayers for Common Sense. "Tax credits are steroids. If you get a $25,000 tax credit for anything, you can get people to listen to Journey again."

Ashdown notes that taxpayers were originally allowed to deduct up to $100,000 for the purchase of such a heavy vehicle but that provision was narrowed down by former Sen. Don Nickles in 2004.

More...

http://abcnews.go.com/Business/story?id=3326593&page=1

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2011-01-24   15:33:52 ET  Reply   Trace   Private Reply  


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