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Old 08-11-2023, 11:35 AM
Bill14564 Bill14564 is offline
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Quote:
Originally Posted by Number 10 GI View Post
The feds and some state governments are giving incentive money to encourage electric vehicle sales. The government only gets it's money from tax payers.
This credit takes absolutely nothing from anyone. This tax credit is non-refundable - you can't claim more than you actually pay. This credit can set your tax liability to $0 but does not pay you anything back. This credit doesn't take money from the poor to pay the rich, it simply says the purchaser doesn't have to pay that amount in their taxes this year.

(This is unlike other credits where money is taken from taxpayers to give refunds to those who pay $0 in taxes.... a true example of taking from the rich and giving to the poor)
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