Senators propose killing $7500 EV tax credit, adding new $1,000 tax for road repairs

[Roger 123]

only one paying the tariffs are US customers so it’s no different than a tax.

The exporting country does not pay a tariff. The US importer, then wholesaler then retailer then customer pays the tariff in the form of a higher price.

Domestic competing manufacturers often raise prices or keep them just under tariffed price to have their product look more attractive to US customers.

In effect, if you think tariffs are good, you are paying off the federal debt by paying the higher prices.

What is proven is that no more jobs were created the last time tariffs were used, four years ago and off shoring at carrier or Deere or caterpillar or Harley Davidson continued.

McKinley abandoned his tariffs after they didn’t work over 100 years ago.

You will begin to see more and more layoffs for many reasons.

Credit card debt is climbing and auto loan as well as mortgage default rates are increasing.

Next is inflation, recession, depression and deflation, eventually or a lost generation as occurred in Japan.

The goal would be that yes, the tariffs raise prices but we (US) would lower income taxes resulting in more money in individuals pockets and encouraging people/ businesses to make stuff in the US.

So tariffs, with no resulting tax decreases, aren't great.

 

[JesseS]

This was mentioned…Replacing income tax with tariffs. Wasn’t a promise (like shutting down the border on day one etc) but was floated as something to look at.

Won't happen, once tariffs get high enough people will just stop buying anything except for necessities, which will reduce sales tax income, on top of no income tax, and just how do you fund a trillion dollar government without income tax? Some states do it but have very high property and sales tax (my friend in Texas pays $9K property tax on a house smaller than mine which is $2800) Farmers in the midwest are already crying about the loss of their USAid contracts for food, saying they might lose their farms, oh well, they were warned. Perhaps they can save money by cutting out the 8 Million a day Musk gets in federal subsidies and contracts.

 

[JesseS]

A one time $1k road tax for EV's is fair as far as I am concerned, seeing the Fed's won't be getting gas taxes from me. California is going to a Per Mile charge for road Tax, connected tech can report your mileage, cars without the tech will be charged a flat yearly fee.

 

[dls235]

Federal income taxes might be going away. He said it on the campaign trail and so far everything that he said on the campaign trail he’s been doing. And a-lot of governors and senators want to put it in action. Where instead we would be getting a check from the government every year.

I’ll believe it when I see it.

 

[joewilk45]

Don't bring the POS into a transparent forum you won't be better off in 4 yrs even know you were smart enough to buy a scout. They take they don't give

 

[TwoJacks]

Won't happen, once tariffs get high enough people will just stop buying anything except for necessities, which will reduce sales tax income, on top of no income tax, and just how do you fund a trillion dollar government without income tax? Some states do it but have very high property and sales tax (my friend in Texas pays $9K property tax on a house smaller than mine which is $2800) Farmers in the midwest are already crying about the loss of their USAid contracts for food, saying they might lose their farms, oh well, they were warned. Perhaps they can save money by cutting out the 8 Million a day Musk gets in federal subsidies and contracts.

And there simply isn’t enough trade to support the US government budget, even if cut to the bone. As you said, trade would dry up, so tariffs income would drop like a rock. Even worse is that foreign direct investment would dry up partly because other countries wouldn’t have as many dollars to reinvest, so there would be nobody to finance our deficits. This kind of policy always leads to recession and if carried far enough, to depression. The stupid coming out of Washington is thick and dangerous.

 

[Dive Bar Casanova]

only one paying the tariffs are US customers so it’s no different than a tax.

The exporting country does not pay a tariff. The US importer, then wholesaler then retailer then customer pays the tariff in the form of a higher price.

Domestic competing manufacturers often raise prices or keep them just under tariffed price to have their product look more attractive to US customers.

In effect, if you think tariffs are good, you are paying off the federal debt by paying the higher prices.

What is proven is that no more jobs were created the last time tariffs were used, four years ago and off shoring at carrier or Deere or caterpillar or Harley Davidson continued.

McKinley abandoned his tariffs after they didn’t work over 100 years ago.

You will begin to see more and more layoffs for many reasons.

Credit card debt is climbing and auto loan as well as mortgage default rates are increasing.

Next is inflation, recession, depression and deflation, eventually or a lost generation as occurred in Japan.

Well said.
Deflation can be brutal and hard and a long time for a country to navigate out of. Really long, brutal time to shake.

 

[Dive Bar Casanova]

And there simply isn’t enough trade to support the US government budget, even if cut to the bone. As you said, trade would dry up, so tariffs income would drop like a rock. Even worse is that foreign direct investment would dry up partly because other countries wouldn’t have as many dollars to reinvest, so there would be nobody to finance our deficits. This kind of policy always leads to recession and if carried far enough, to depression. The stupid coming out of Washington is thick and dangerous.

Take the time to watch and listen to this in its entirety:

 

[Bender]

A one time $1k road tax for EV's is fair as far as I am concerned, seeing the Fed's won't be getting gas taxes from me. California is going to a Per Mile charge for road Tax, connected tech can report your mileage, cars without the tech will be charged a flat yearly fee.

I don't mind paying for roads in some fashion (which means a tax of some sort, somewhere), but if it's truly about the weight of the vehicle, then tax vehicles based on their weight. A GMC Hummer EV weighs more than a Ford F150, which weighs more than a Fiat 500e.

Meanwhile, leave the gas tax to help cover the corresponding pollution and its side effects.

The $7500 EV tax credit and the $1000 EV penalty are both incentives, if we're being honest. One to get people to buy EVs and the other to get people not to.

 

[joewilk45]

You pay for roads etc in your taxes gas tax help fund infrastructure but doesn't fund it 100% if they audited the gas tax funds they would see that's where the pork is. Face it were sheep they are the herders and its people like us on this forum who walk a different line and think for themselves refreshing but alarming in same sense. Having being blessed with two healthy daughters and 3 grandchildren I know anything is possible good and bad. But I found it's the bad that shapes us more than the good. For it's how we deal with the bad that sets us apart. Now let's get these Harvesters on the road so we can attack the bad.

 

[NukeDukem]

You pay for roads etc in your taxes gas tax help fund infrastructure but doesn't fund it 100% if they audited the gas tax funds they would see that's where the pork is. Face it were sheep they are the herders and its people like us on this forum who walk a different line and think for themselves refreshing but alarming in same sense. Having being blessed with two healthy daughters and 3 grandchildren I know anything is possible good and bad. But I found it's the bad that shapes us more than the good. For it's how we deal with the bad that sets us apart. Now let's get these Harvesters on the road so we can attack the bad.

I am of the same mind. I think a transparent audit would show very little of what we pay in taxes for road improvements ever actually go to that.

 

[Roger 123]

I am of the same mind. I think a transparent audit would show very little of what we pay in taxes for road improvements ever actually go to that.

I agree, that would be awesome to see a complete audit of the federal government to see exactly where our money is going!