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But Uncle Sam will spend the money, whether it is also given as a tax rebate or not, and there is only one place to get it. From those that are paying the full tax without a rebate. From the middle class, paying more in taxes to support the tax break of the wealthy that don't need it. An Electric car for you? Do you expect a plug in car in your life in the near future? Does it bother you that you are subsidizing the wealthy? See results What Can We Do? Truthfully, not much. This is just another case of shifting of the wealth upwards, increasing the gap between the wealthy and the rest of us, all paid for by the people struggling to make ends meet. This seems to be the way our country is heading. Still, we can complain, and complain as loudly as possible. Write your congressmen and women, letting them know just how unfair this is - that if we are going to subsidize buyers of "green" vehicles it should not be limited to only those with large incomes and deep pockets.
That the little people providing the subsidy through their taxes deserve the same treatment. And that changes should be made retroactive as far as possible as there are likely a great many buyers that expected to get a nice check come tax time only to be hoodwinked out of it. Whether you agree with subsidizing electric cars or not, it is grossly unfair to limit the purchase subsidy to only the wealthy while denying it to the people not only paying for it but needing it the worst. Let your lawmaker know, and enlist the help of your friends. Show them this article and get their opinion (and hopefully their help as well). Comments are not for promoting your articles or other sites. I must say that I am quite disappointed if the tax credit came back less to me than what I was initially expecting. However, another factor that came across me while browsing for an electric car is the insurance. Apparently if I switch from my existing ICE car to an electric car, my insurance charges increases. Counting the tax credit and the cost savings I will benefit, it would mostly go to covering the insurance bill. Great hub Dan. This is real interesting and informative about electric cars and the tax credit with it. It came as a shock to me; I was counting on that credit to reduce the car loan. I've had to re-think the whole purchase as a result. At the very least, this restriction should be better publicized. Thanks for the heads-up! 4 years ago from Spring Valley, CA. U.S.A. I really followed this and you did a great job explaining the problem.
