Tesla share crash amid Republican bid to kill off electric car tax break

Wait, but Trump's tax plan gives big tax cuts for the rich so are you against those too? What about the Bush and Reagan tax cuts for the rich? Are you against those as well? Are you against raising taxes on the rich but yet are in favor of raising taxes on energy innovation because of the rich?

The tax cuts for Tela and many small businesses in alternative energy exist so that these options will eventually be affordable by the middle class and Tesla has made amazing strides to do this and its latest model is the most affordable ever and we are starting to see the beginning of these cars entering the mainstream market.

 

You think investing in the future is somehow amazing? That explains a lot.

I am well aware of how dirty tar sands oil is. All Canadians are, which is why we think investing in alternative renewable energy is a win win for all of us. You do understand that prudence and common sense dictate that REPLACING oil is the ultimate economic and environmental winning strategy, don't you?

 

Interesting 2 year oldarticle
.
How about this one.

Elon Musk Begs The Feds: Please End Tesla's Tax Subsidy
https://seekingalpha.com/article/4069065-elon-musk-begs-feds-please-end-teslas-tax-subsidy


A few posters on this thread should be blushing right now.

 

Taxi companies love them

Any vehicle that is multiple short rides is ideal. Price is coming down too. This is like when the bow and arrow replaced the club. There were still plenty of cavemen thumping thier clubs on the ground refusing to change

 

Model X owners average $503,000 in annual income, Model S owners, $267,000. We have been hearing all these wealthy folks endlessly brag about how badly they want to pay their fair share ever since the Bush Taxcuts. Well, I have good news!

The Grandchildren of the Reagan, these "Soak The Rich" Clowns are NOT!

Their tax bill doesn’t just leave taxes in place for those who earn more than $500,000 and couples earning more than $1,000,000. It creates a stealth rate of 45.6%! Not even Obama had the balls to do that! Combine that with state taxes in places like California, and high-earning Americans will be paying up to 56% of those earned dollars to the government. Combine that with the lowering of the mortgage interest deduction and you’re talking about a dramatic increase on those who earn most. Those sneaky Republican Bastards!

They've gone Populist!

 

On the 1Q earnings call, Elon Musk delivered an impassioned plea that the federal electric car subsidies hurt Tesla relative to other automakers.

~ Say YES! to Elon!

 

Well for a start he is using some of that money to help Puerto Rico rebuild its power grid. American productivity comes from innovation. Tesla is main market innovation that should see returns out of all proportion to investmant

 

Another guy creating a need for something we don't need and being overpaid for it because of mental midgets in society.

 

Say what? BMW is one hell of a car made in south Carolina..

 

I disagree with you because tax hikes never help anyone and raising taxes on energy innovation companies are only going to stifle innovation. Telsa's customers are mostly rich people because electric cars were too expensive for mainstream production so they came up with the idea of tailoring their cars to be high-end electric cars for rich people while in the meantime they investment into this bringing down prices so that ordinary people would one day afford them. Currently their newest car is the model 3 which is $35,000 and is the result of years of innovation and research made possible by tax cuts and the model 3 is just the beginning of an energy revolution that will transform the cars people drive. It sounds like you are so anti-rich that you want to stifle innovation that would have actually helped ordinary Americans.

 

Hey look I am kicking this little puppy....awe its crying out in pain. But it's ok because I donated to the Humane Society so that cancels out my current action.

 

You just picked one.
I don't care what your justification is.
Care to whip out another cute little hypocrisy accusation?

 

But the Wealthy have been moaning ever since The Bush Taxcuts, about how much they want to pay their fair share!

Today everyone has a smart phone in their pocket, 15 years ago, no one even knew what one was. Make something we want, and a price we can afford, and the world is your oyster. Elon Musk says the tax credit has done him more harm than good. I say: "Good!"

That's right. The same folks who endlessly whined about the Bush Tax Cuts and pinky swore that they didn't want the tax cut, they wanted to pay their fair share. Well, we have good news!

Sounds like some crazy "trickle down" car mfg scheme. Oh well, Elon Musk has spoken and he knows best!

Tesla Inc. Spent $565K Lobbying for Fed Subsidies Musk Says He Doesn’t Need


Tesla CEO Elon Musk insists the company does not need such breaks.

The Podesta Group, whose chairman, Tony Podesta, is a major Democratic fundraiser and brother to Hillary Clinton's first presidential campaign manager, received most of those lobbying dollars—$150,000 for 2016 alone—before Musk ended the lobbying contract in April.

The Podesta Group stood to benefit from its ties to Clinton heading into the November election. But after Trump's surprise victory, it lost several major Silicon Valley clients, including Alphabet Inc., the parent of Google after a 12-year relationship.

The Los Angeles Times in 2015 estimated that Musk has benefited from nearly $4.9 billion in state and federal "green" tax subsides.

 

Get their taxes raised?

 

a witty analogy requires that the comparison makes sense. you should get some

 

Ending tax cuts means raising taxes.

 

Damn Republicans and their sneaky Soak The Rich Taxes! Like their sneaky new 46% bracket on the rich. Even Obama didn't have the balls to propose something like that!

House Republicans claim the tax plan they introduced Thursday keeps the top individual rate unchanged at 39.6 percent - the level at which it’s been capped for much of the past quarter-century. But a little-noticed provision effectively creates a new band in which income is taxed at over 45 percent.

Americans who earn more than $1 million in taxable income would trigger an extra 6 percent tax on the next $200,000 they earn - a complicated change that effectively creates a new, unannounced tax bracket of 45.6 percent.

It hasn’t been advertised by Republicans, who have innocently described their plan as maintaining the current top tax rate of 39.6 percent.

They Think They Are Modern Day Robin Hood!

A provision in the bill 'helps' the government 'recover', from the very wealthy, some of the benefits that lower-income taxpayers enjoy. After all,they can't just cut spending to cover the tax cut. Oh No. The Sneaky bastards have to Soak The Rich!

The surcharge could raise more than $50 billion over a decade - money that will help the GOP meet the $1.5 trillion in increased deficits that their budget allows for and required to balance out tax cuts elsewhere.

Make Millionaires pay more AND take away their TESLA break!

Heartless!

 

I only disagree with the tax break on a luxury car. Seriously? People who can afford $80k+ on a car don’t need any break at all. Maybe anything under $40k could get a break since it’s the mass market that will actually make a difference. When EVs are 25k it will have annactually environmental impact. Currently there aren’t enough being sold to make a dent.

 

Oh please Elon. Cry me a river. The fact he’s selling cars without having dealerships like every other manufacturer has to, is a massive gift.

 

I totally agree. Imagine needing gridless power generation/storage, or high efficiency electric motors why the very thought is mental midgetry at its finest. Next they'll start whining about technology adoption curves and economies of scale - tiny midgets I tells ya.

 

So the taxpayers have to subsidized the fuel for these things too.

Let me know when Tesla becomes a public utitlity.

The new 3 is in ALL kinds of trouble and that is what they are relying on.

Why Tesla's Model 3 production problems are troubling
http://www.businessinsider.com/tesla-model-3-production-battery-problems-troubling-2017-11

Does Tesla have enough cash to fix Model 3 production woes?
http://money.cnn.com/2017/11/02/technology/tesla-cash-crunch/index.html

And those stories are just from the last two days.

 

While the market is hitting records.

 

Yes that is why you lower investment taxes so people will put their capital together and put it at risk in such innovation in the free market.

And they can all compete on a level playing field.

Well define innovation and what big company is profitable and successful because it is not innovative?

 

Why is it you believe innovation and new products only come from government spending taxpayer dollars. I'm all for Tesla building the products it claims it can but do it on investor dollars instead of taxpayer handouts. But that is my country you can do whatever you want in your country, why measures are there there that you support to give this aid to Tesla? How much are you funding him?

 

As if that has some connection to any individual company performance. but thanks for stating the sky is blue.