Stock picks

[morekaos]

So, if every company in the entire EV ecosystem (strongest, weakest, suppliers, distributors, shippers, energy suppliers, innovators) is struggling at best….what is the market telling you?

 

[Liar Loan]

So, if every company in the entire EV ecosystem (strongest, weakest, suppliers, distributors, shippers, energy suppliers, innovators) is struggling at best….what is the market telling you?

Clearly we need more government handouts!

 

[irvinehomeowner]

Just like Big Oil?

 

[Liar Loan]

Just like Big Oil?

I've never subsidized gas cars for wealthy people to the tune of $7k per vehicle.

 

[irvinehomeowner]

Uh... tax credit for EVs is not for wealthy people depending on your definition of wealthy. There are income restrictions on the IRA credit.

 

[Liar Loan]

Uh... tax credit for EVs is not for wealthy people depending on your definition of wealthy. There are income restrictions on the IRA credit.

The income limit is $300k which is 4x the median US household income. Therefore, working class folks are forced to subsidize the wealthy buyers of EV's, which in turn really just subsidizes the car makers themselves. Elon Musk is ranked 2nd or 3rd wealthiest person in the world in large part due to these tax credits keeping him afloat.

 

[CalBears96]

Uh... tax credit for EVs is not for wealthy people depending on your definition of wealthy. There are income restrictions on the IRA credit.

Yeah, wealthy people don't qualify for EV tax credit. The income limit is $300k MAGI for couples or $150k MAGI for individuals.

 

[irvinehomeowner]

You forget that Tesla had zero tax credits for a number of years.

Additionally... not every vehicle qualifies for $7500 due to battery composition and build origin. In fact, the new IRA is so restrictive, a larger percentage of EVs do not qualify for any sale credit at all (most of the non-US brands).

If you don't think the working class is subsidizing Big Oil either through taxes or directly at the pump... that's your opinion.

 

[Liar Loan]

Yeah, wealthy people don't qualify for EV tax credit. The income limit is $300k MAGI for couples or $150k MAGI for individuals.

Income isn't what makes one wealthy though is it? Assets are the measure of wealth and many people earning $300k have a 7-figure net worth.

Sooo.... Why should working class tax payers subsidize millionaires that want a new toy?

 

[Liar Loan]

If you don't think the working class is subsidizing Big Oil either through taxes or directly at the pump... that's your opinion.

Directly at the pump is not a subsidy, by definition.

But speaking of the pump, EV millionaires are also subsidized by the exemption from paying for our roads through the gas tax, even though EV's destroy roads much more quickly due to their added weight.

 

[irvinehomeowner]

You know as much about EVs as morekaos. Do you think all Teslas cost $100k too?

 

[CalBears96]

You forget that Tesla had zero tax credits for a number of years.

Additionally... not every vehicle qualifies for $7500 due to battery composition and build origin. In fact, the new IRA is so restrictive, a larger percentage of EVs do not qualify for any sale credit at all (most of the non-US brands).

If you don't think the working class is subsidizing Big Oil either through taxes or directly at the pump... that's your opinion.

Right. In fact Tesla Model 3 isn't qualified for tax credit, but Model Y is, which means that if you're qualified for tax credit through income limit, you're better off buying Model Y than Model 3. I had planned to have my son buy the Model Y once he started working, but they got rid of normal range RWD (260 miles) in favor of long range RWD (320 miles) through software unlock for an additional $2k.