Elon Musk and Tesla Motors, masterful at mining state and federal tax incentives, may have lucked into a tax loophole. The company’s new $100,000-plus Model X electric SUV qualifies for a $25,000 federal tax deduction.
That’s on top of a $7,500 federal tax credit and a $2,500 California rebate given to buyers of battery-electric vehicles.
Looks like California is Wynning too. The future of manufacturing is when 35% of your revenue is government subsidy.
Pull quote: “The tax deduction represents another coup for Tesla and Musk, which have already shown themselves adept at taking advantage of government programs.”
No shit, Sherlock. It’s what he does.
SfromR…Californicated was doing this long before The Whiner. I believe Ontariowe and her are emulating them. And succeeding I might add.
“The right buyer, a small-business owner with a substantial federal tax exposure…”
The way it is structured, you have to be well off and owe a lot of Federal Tax to take advantage of the Tax Deduction.
IOW, the only people that can use the deduction are already RICH, and the same people that really do not need a deduction “to do the right thing,” according to my environmentally retarded friends. But Democrats are against corporate welfare.
Wow, rich people spending to save the planet. Yo ….
You just cannot battle global warming without a $100,000 electric car … now can you?
Models that would help sell these puppies .. … I might suggest a few ….
The Tesla Gorica
The Tesla Suzuka (For Canadians who want to by a $130K car to fight global warming because Canada is so hot all the time)
The Tesla Twat for the spoiled daughters of the rich.
The Tesla Twit for those who have to take a bank loan to buy one.
A coal powered Tesla in Saskatchewan for $35,000 plus $85,000 in repairs. At 15,000 miles it has left a heavy environmental footprint.
https://www.sgi.sk.ca/lcgi/salvage_bid_site/comp_details.cgi?stock_num=S156643&store=Saskatoon
The tag reads 4GETOIL, which I assume is “Forget Oil” as opposed to “Forge Toil.” In Saskatchewan marginal electrical load is covered by coal, so an electric car just extends oil reserves.
Musk companies have pocked about 4.5 billion in federal subsidies. Musk skillfully makes campaign contributions of decision-makers at both the state and federal level to keep the subsidies coming in.
SLASHDOT /. blog has entry today about faux fights over charging stations, seems there ain’t enough? LOL.
Goodwill (charity?) built a brand-new stand-alone secondhand store in our town in what was a farm field. There is an electric charging station in the parking lot.
Pretty soon, the government will pay the whole price of the car and then some.
Moonbeam Browns total scrwball him and his entire cabinet in Sacramento their all screwballs
Read the fine print. Remember on Christmas morning when you’d unwrap your Japanese toy car and the box had these words printed on the side. ”Batteries not included!!” .