MSNBC: Tax credits on Toyota hybrids being halved

[question everything]

Tax credits on Toyota hybrids being halved

Reduction starts Oct. 1 after carmaker reached limit set by Congress
The Associated Press

Updated: 8:40 a.m. CT Sept 21, 2006

WASHINGTON - Tax incentives for environmentally concerned drivers shopping for certain energy-efficient hybrids will soon start disappearing like autumn leaves.

The Internal Revenue Service said Wednesday its tax collectors have been told that Toyota this summer hit the legal production limit — 60,000 vehicles — that Congress imposed on vehicles eligible for a tax credit.

(snip)

No credits can be claimed for the purchase of Toyota hybrid vehicles beginning Oct. 1, 2007.

Taxpayers can still claim full tax credits for purchasing hybrids made by other manufacturers, such as Honda Motor Co., Ford Motor Co. and General Motors Corp., until those manufacturers trigger the vehicle production limits or the tax break expires in 2011.

(snip)

IRS background on tax credits for all carmakers' hybrid models is online at www.irs.gov/newsroom/article/0,,id=157632,00.html

URL: http://msnbc.msn.com/id/14937138/

[onehandle]

1. Conservation bad. Higher taxes good.

Kiss your asses goodbye, Republican Congress.

[w4rma]

2. The Republicans are punishing success by cutting this off. (nt)

[truthisfreedom]

3. that's right, people, the republicans are increasing your taxes on Oct. 1,

remember that in November! 8^)

[Singular73]

4. Actually no....

This is an attempt to get Americans to buy US-corporate based hybrids.

Kind of like a tarrif.

Not all bad.

[MadHound]

5. Except for the fact that US made hybrids

Get shit for gas mileage and emissions when compared with the Prius. In addition, with multinational auto companies owning large, if not controlling sections of other "foreign" auto companies, who can really say which is better, buying an American branded car manufactured in Mexico, or a foreign branded car made in the US:shrug:

And in another great irony, while tax credits for hybrids are being slashed in half, and shortly eliminated, the huge honking tax breaks for Hummers continue. Is that promoting the social good? I think not.

[cyberpj]

7. I agree. They really don't like Toyota for shaming their home boys. nt

[Renew Deal]

8. That's correct.

Some pukes in congress either reduced the limit or created one last year to please american car companies. They knew they were going to get smoked by Toyota and Honda.

[Renew Deal]

6. I got mine early in the year.

This expiration is further out than most had expected, so it's not all bad. Most people expected it to happen in June.

[question everything]

9. But why expire it, anyway?

Shouldn't Congress promote some kind of conservation? Why not expire tax break for monster cars that are used for "business" business meaning taking Junior for little league practice?

Several weeks ago we replaced our 20 year old A/C and furnace for new, energy efficient - and no freon - models. When I got the rebate form from the local electric company, it said that rebates were limited. I don't know, yet, if we will get ours.

I don't know what funds the utilities are using to offer the rebate which will expire in 2008 but, still, why expire it?

Perhaps this is something that Democrats can run on - keeping rebates going for energy efficient cars and appliances and take it from the breaks that millionaires get.

I would think that most voters would be open to this.

[Renew Deal]

10. The answer is in post 8.

At least the short answer.

[David Zephyr]

11. GM & Ford are pathetic. And I assert, unpatriotic, too.

The great irony is that it is Toyota helping the U.S. reduce its dependency on foreign oil.

The great tragedy is that it is GM and Ford that are working their inside track with the U.S. Government to punish Toyota.

Our kids are dying and being maimed in Iraq BECAUSE of our addiction to oil. Ford and General Motors are not blameless.

[warrens]

12. Toyota can't meet demand

Tax rewards should be there to spur demand. Hybrids are selling well because they are cool cars now. They shouldn't need propping up.

[Jersey Ginny]

13. How about stopping the tax breaks for polluting vehicles

The cost of the CO2 and other pollutants is not factored into the cost of the gas guzzlers and it should. We all pay a price for pollution that is not factored into the price of vehicles. This bill, written by GM is insane! Penalizing success is unamerican.

[Psephos]

14. Incentives aren't needed for cars with waiting lists to buy

Prius is a hot seller. Why should other people (taxpayers) be making bonus payments to Prius buyers, when Prius buyers are going to buy those cars anyway? It's no longer an incentive, it's just a give-away, when the incentive doesn't alter behavior because the behavior's already been altered.

Furthermore, it's rather un-progressive, IMO, for us on the progressive end of the scale not to want those incentives directed to American cars, where union jobs are directly related to sales.

Prius is built in Japan.

Consider buying something assembled in America, and help keep a US autoworker employed. Tax credits in this case seem like a smart use of American money to benefit American workers.

Peace.

[Mind Snapper]

15. How do you even know what's assembled in America anymore?

[Psephos]

20. You might try checking on the internet. Takes about five seconds. n/t

[Nihil]

17. View it as a reward for being a better world citizen then.

> ... the incentive doesn't alter behavior because the behavior's
> already been altered.

So, you think that given the choice between a standard $XXXXX piece of
crap and a slightly more expensive hybrid, people will *always* go for
the hybrid? If not then the tax credit is a worthy incentive.

> Furthermore, it's rather un-progressive, IMO, for us on the
> progressive end of the scale not to want those incentives directed
> to American cars, where union jobs are directly related to sales.

Why should "progressive" people encourage the destruction of the planet?
Why should "progressive" people encourage corruption in government?
Why should "progressive" people be expected to cut out half their
brain and act like the "un-progressive"?

> Consider buying something assembled in America, and help keep a US
> autoworker employed. Tax credits in this case seem like a smart use of
> American money to benefit American workers.

Ever thought that this is why the US manufacturers are in the shit now?
If they weren't getting handouts, bribes and illegal trading laws bent
in their favour for years then they might have got off their arses and
kept up with the competition.

(BTW: I know full well that most of the money didn't make it down to
the shop floor but that is a completely different argument.)

[Psephos]

19. Hmm. I wonder if you feel the same way about aid to poor people.

I can tell from your post you don't drive a car assembled in America. Prolly feeling a little guilty that you handed your cash to an overseas corporation, instead of seeing that at least some of it made its way into an American union worker's pocket.

BTW, those union pensions and medical coverages are going to blow away in the wind when the Big Three are dead.

Just sayin'...

Peace.

[Nihil]

21. Nice strawman ... how about responding to my post?

> I can tell from your post you don't drive a car assembled in America.

Good guess. There are several good reasons for this.

> Prolly feeling a little guilty that you handed your cash to an
> overseas corporation, instead of seeing that at least some of it
> made its way into an American union worker's pocket.

Bad guess.

Don't feel at all guilty at handing over my cash to a car manufacturer
who produces a good car, no matter where they do it (though feel a bit
sad that my own country can't hack that standard any more in the mass
market - only low-volume stuff where craftmanship counts more than the
price). At the end of the day, I am not just looking at the price I pay
at the showroom but also at the cash coming out of my pocket through
servicing, parts, reliability, fuel consumption, lifespan, ...

BTW: Ford, GM and every other manufacturer of cars that I can afford
*are* overseas corporations ...
:hi:

> BTW, those union pensions and medical coverages are going to blow away
> in the wind when the Big Three are dead.

I'd agree with you on the end result but I'd dispute that the benefits
will outlast the companies - not something I'd bet on. On the other
hand, if the US manages to dislodge the cancerous cronies at the top,
there is a chance that such behaviour would illegal. We can but hope.

[goodboy]

16. who's raising your taxes now, Repukes? (nt)

[Javaman]

18. Gas prices are the new terror warnings.

Could it be that they are halving the tax credits so people don't buy them? With the political lowering of the gas prices to help moron* and to pump up the repukes in the upcoming midterms, the stage is set to push off all the remaining acre's SUV's off the lots.

Once they are sold, the price of gas will once again rocket up. No, it won't happen November 8th, it will a slow climb back up. The boiling of the frog.

By this time next year, gas will be up around 4 bucks. Throw in a few major hurricanes in the gulf and you guess is as good as mine to where the ceiling will be for the price at the pump.

They scream and yell about how their aren't enough pumping facilities, not enough refining facilities, how the Alaskan shortage will hurt us, blah blah blah, yet, prices are going down.

Allllll Bullshit. They figured it out. Gas prices are the new terror warnings. They are getting as much mileage out of the price dropping 20 cents as they did when they would boost the fake terror alerts to level 4 or 5.

this is the october surprise. That morons* ratings will sky rocket because they have artificially lowered the prices.

The mouth breathers in our society are beginning to eat this shit up.

They may have figured out how to fool most of the people most of the time.

[Javaman]

22. Extrapolating on what I said...

The halving of the tax credit feeds into what I stated above.

moron* and his room full of dopes are trying like hell to stop the Japanese Auto Tsunami.

They are building mud walls to stop a title wave.