EVs are not "workhorse" cars, and most are second vehicles used for short, nearby trips. A family that can only afford one car is not going to buy an EV. Furthermore, many low income families live in rental units, where charging an EV is near impossible.
By there very nature tax credits are going to favor homes that have higher incomes. No income = no taxes. Incentives are a much better way to push these programs forward, a paid incentive is income blind and probably has a bigger impact on the low income than the wealthy. But that's the point isn't it.
this can be no surprise at all. however it needs to be constantly highlighted so that the lowest three quintiles understand they are paying their better off fellow citizens to help those who are better off enhance their own lives.
80% up to the top quintile - so the top 20% of income.. For the EVs, 80% of the tax credits went to the top quintile. But what's astounding is that the top 5% of income received the top 50%! I debated explaining more about the quintiles, but didn't want to distract from the message. :)
The Green Grift rolls on. Parallel piece in fast company today on how the Royal Family i.e. The Crown, is benefiting handsomely.
Can’t wait until the TSLA fanatics ask the government for credits to buy Full Self Driving packages given this would obviously help humanity.
I'm sure it'll happen haha!
EVs are not "workhorse" cars, and most are second vehicles used for short, nearby trips. A family that can only afford one car is not going to buy an EV. Furthermore, many low income families live in rental units, where charging an EV is near impossible.
Exactly! Outfitting apartment complexes with enough chargers for everyone would be extremely expensive.
By there very nature tax credits are going to favor homes that have higher incomes. No income = no taxes. Incentives are a much better way to push these programs forward, a paid incentive is income blind and probably has a bigger impact on the low income than the wealthy. But that's the point isn't it.
this can be no surprise at all. however it needs to be constantly highlighted so that the lowest three quintiles understand they are paying their better off fellow citizens to help those who are better off enhance their own lives.
It gets my goat!! If you wouldn't pay in for a neighbor's EV from your own pocket, then your tax dollars shouldn't be taken to do so, period.
Nicely done, thank you. Succinct and to the point! Yet another symptom of America's joulicide.
Is it 80 percent to the top quintile or 50 Percent? Am I reading this wrong?
80% up to the top quintile - so the top 20% of income.. For the EVs, 80% of the tax credits went to the top quintile. But what's astounding is that the top 5% of income received the top 50%! I debated explaining more about the quintiles, but didn't want to distract from the message. :)