Wow, Wow, Wow, Bush!

So how would this $4k crdit affect current owners? Would we be able to get the credit amount minus what we got already? I just got my Prius and have not filed yet.

 

I would be THRILLED with a $4000 tax CREDIT. This is not thr first time he has mentioned a "credit" instead of a deduction, so I think at this point it's safe to assume that he really means to implement a "credit"

A tax credit would take $4000 directly off the amount of tax you owe. The current deduction takes $2000 off of your taxable income which for most people averages out to about $500 in savings.

This $500 savings varies greatly depending on your tax bracket so don't hold me liable for any discrepancies in your own taxes..

 

Tax deduction comes off your taxable income. If your tax bracket is 25%, then you save only $500 in taxes, which is the tax you would have paid on the $2000 you deducted.

Tax credit comes off the tax you owe. So if you owe $10,000 dollars, you would only owe $6,000 after the tax credit.

Tax credit is much better than tax deduction.

 

<div class='quotetop'>QUOTE(Tadashi\";p=\"98736)</div>

I imagine it would be a change to the 2005 tax code. Therefore, if you bought your car in 2005, you get the credit. If you bought it in 2004, then you are out of luck.

 

Actually GW has used the word credit before. However, most observers assumed that he didn't know the difference between a deduction and a credit and that he was really talking about a deduction.

Maybe he really does mean a credit, though I did not see his speech.

Actually, I don't generally watch him on TV anymore. Seeing as how what he says generally has so little in common with what he does, I figure whats the point of listening anymore.

 

We keep hearing this same old story again. $$$ support for hybrids gets mentioned, but nothing ever becomes of it.

Don't believe this until at least a very minimum details are provided. Most notably, that "up to" qualifier is extraoridinarily vague. And remember, the Detroit automakers have been begging for this for years... yet nothing has ever materialized.

 

<div class='quotetop'>QUOTE(prius04\";p=\"98747)</div>

Well, you could read it instead...

http://biz.yahoo.com/prnews/050615/dcw047.html?.v=12

 

Well, electric cars DO currently get a CREDIT, or is it any alternative fuel vehicle? So he may have meant CREDIT.

However, it isn't all up to him. It is Congress that makes the laws and tax codes.

 

Now, how much was it that Toyota was to be raising prices?

Future Prius buyers have some investigating to do.
Is it a credit or deduction?
Will that more than cover the price increase?
What changes will be made to the ‘06?
Is the hybrid Highlander or Lexus RX hybrid now within my price range?
If it is a tax credit, will the Prius waiting lists grow to unbearable proportions?

WHAT!! No more Salsa Red before they are all gone. :lol: :wink:

[curious as to why this topic is in Care, Maintenance & Troubleshooting. We “care†but I don’t think that qualifies it for this category]

 

In my post above I commented that there was little point in paying attention to what Bush says, because it often has little relationship to what he does.

Here is an example from Reuters. Apparently, the energy bill is getting finishing touches and in the bill are some mandates regarding alternative energy and energy conversation. The White House is against those aspects of the bill.

.....
The White House opposes measures in the Senate bill that direct the president to reduce U.S. oil demand by 1 million barrels per day by 2015. The United States is the world's biggest oil user with a daily appetite of 20 million barrels......

http://news.yahoo.com/news?tmpl=story&u=/n...y_congress_dc_1


So like I said above, why does anyone pay attention to what Bush says anymore, seeing as how it has such little relationship to what he does.

 

Soo.. i wonder, just like the rest.. is he doing this to get people to like him? or.. is he actually going to go through with it and put up incentives for bio fuels, hybrid, and anything else green?

funny.. took im 4 years. this was one of the running points of Kerry.

 

<div class='quotetop'>QUOTE(prius04\";p=\"98852)</div>

I'm not sure I see the contradiction. The Yahoo News story does not state what these measures are and what they might cost (So it is possible that Bush just doesnt' want measures that are going to impact individuals as much or more than high gas prices already are). Plus a person can be for hybrids without wanting to take drastic measures to reduce oil demand, since the lowered emissions are another great benefit. There is the argument that increased efficiencey doesn't decrease overall demand because individuals are more likely to drive more since it doesnt' cost as much.

By no means do I truly believe anything any politician says by nature of their office and the nature of politics, but neither do I believe that Bush is being hypocritical.

Like DanMan said, congress has to pass the energy bill before Bush can truly act. I really hope the $4k Credit would pass, but I wonder how the Big 3 will see it. Will it push more people until the many options available in foriegn cars or will it help them since they will have a couple of hybrids by the end of the year?

 

I'll just wait and see if that tax credit comes or not...
Bush has said he would do a quite few things in the past that haven't really panned out...Running respectable foreign policy, for starters.
Even if the credit goes through, so what? Bush thinks he can buy people off with a $4000 credit. George W. Bush could buy me a Toyota Prius; I wouldn't touch it with a 10 foot pole. I still think he's a lying murderer. A $4000 tax credit can't excuse his actions of starting a war on false pretenses which has led to the deaths of hundreds of thousands of people, it sure doesn't excuse his blatant disregard for the environment in virtually every other respect, it doesn't excuse his ridiculous Bible crusade to protect "the family" from the evils of abortion and homosexuality, and more than anything else, it doesn't excuse his attempts to fight for freedom, by taking our freedoms away.
I'm sorry, but I'm not jumping anywhere near the bandwagon that cheers on Bush. Hybrids don't need tax credits anyway; they sell themselves faster than they can be made. Maybe he could actually do something useful to reduce America's horrendous impact on the environment for a change. Unfortunately, it would likely crash the economy and his "higher father" probably wouldn't approve.

 

<div class='quotetop'>QUOTE(micheal\";p=\"98889)</div>

Now I'm confused. This thread started off mentioning a speech Bush made about promoting energy efficiency, and then I point out that his White House wants to actually block a small aspect of legislation that directly asks the President to attain some level of efficiency, and you can't see the contradiction?

And I'm ecstatic that Bush talked up hybrids and wants to increase the tax deduction/credit. But talk is just talk. With this guy, I'll wait until I see it.