Comments on: Volt Birth Watch 109: Another Day, Another Bailout (And Volt Tax Credit)

By: hltguy

hltguy — Thu, 02 Oct 2008 21:01:58 +0000

Whew! I am glad the movie makers got millions of dollars in the “rescue” plan, I was worried we wouldn’t have any new films.
Let’s see, the Puerto Rico rum producers are getting $190 million and the Detroit losers are getting a boatload, Great! the government just subsidized a hellava lot more drunk driving on our nickel.
We do have the best politicians money can buy, don’t we?

By: joeaverage

joeaverage — Thu, 02 Oct 2008 20:41:28 +0000

So how does this tax credit thing work? I’ll get an additional $7500 refund tacked onto any tax refund come April 15th IF I have a tax liability large enough that it exceeds $7500?

If so wouldn’t that mostly favor people richer than I?

How about a flat out $7500 refund?

On another note it seems the Phoenix Motor Cars SUT recently jumped in price. Yeah, you guessed it – by $7500…

By: KixStart

KixStart — Thu, 02 Oct 2008 19:13:59 +0000

Qwerty,

Why, nothing at all.

You don’t suppose…?

By: Edward Niedermeyer

Edward Niedermeyer — Thu, 02 Oct 2008 17:46:56 +0000

Not a politician… a freelance writer. You decide which is worse.

From the DetN story:
“The provision would grant all-electric vehicles or plug-in models with at least a four-kilowatt battery pack a $4,168 credit. A vehicle like the extended range Chevrolet Volt with a 16-kwh battery would qualify for the maximum $7,500 credit for vehicles under 10,000 pounds.”

Should have caught the discrepancy there. As for DNA, I guess at a certain point it’s nice for a day to go by where you aren’t reminded that you’re turning into your parent(s). Thanks?

By: Buick61

Buick61 — Thu, 02 Oct 2008 17:39:27 +0000

Can’t wait to get my Volt!

By: Qwerty

Qwerty — Thu, 02 Oct 2008 17:28:15 +0000

What is to stop Toyota from putting a bigger battery in the Prius, adding plugin capability, jacking the price to account for the battery, and sucking up the 250K units before the Volt is produced?

By: Engineer

Engineer — Thu, 02 Oct 2008 17:23:32 +0000

Should that be 4kwH capacity? Kw’s are a rate, not a capacity (though I wouldn’t expect politicians to know the difference).
Well, exactly! Come on, Ed! You’re not a politician, are you? Show that you share some of Pappa Paul’s DNA!

kWh is a unit of energy, like Joule, BTU, cal, etc.
kW is a unit of power, like hp.

By: Aegea

Aegea — Thu, 02 Oct 2008 17:19:25 +0000

Should that be 4kwH capacity? Kw’s are a rate, not a capacity (though I wouldn’t expect politicians to know the difference).

By: mel23

mel23 — Thu, 02 Oct 2008 17:17:08 +0000

A few other goodies somehow slipped in.

—-
* Economic development credit to American Samoan businesses
* $10,000 tax credit for training of mine rescue team members
* 50% immediate expensing for extra underground mine safety equipment
* Tax credit for businesses with employees from an Indian reservation
* Accelerated depreciation for property used mostly on an Indian reservation
* 50% tax credit for some expenditures on maintaining railroad tracks
* 7-year recovery period for motorsports racetrack property
* Expensing of cleaning up “brownfield” contaminated sites
* Enhanced deductions for businesses donating computers and books to schools, and for food donations
* Deduction for income from domestic production in Puerto Rico
* Tax credit for employees in Hurricane Katrina disaster area
* Tax incentives for investments in poor neighborhoods in D.C.
* Increased rehabilitation credit for buildings in Gulf area
* Reduction of import duties on some imported wool fabrics, transfers other duties to Wool Trust Fund to promote competitiveness of American wool
* Special expensing rules for film and TV productions
* Increasing cover of rum excise tax revenues to Puerto Rico and the Virgin Islands
* Making it easier for film and TV companies to use deduction for domestic production
* Exempting children’s wooden arrows from excise tax
* Income averaging for Exxon Valdez litigants for tax purposes
—-