The New Union-Focused EV Tax Credit Bonus & American-Made Tax Credit Cut Proposed In The House Is Stupid

[Ogre]

In all this is there a limit for the number credits a person (Married filing jointly) can claim? I would like to get a Y for my wife's primary and then still be able to claim the credit for my CT in 2024.

Also I slightly annoyed that Tesla keeps raising the price of the Y to compensate for the anticipated EV credit and people back claiming.

The incentives *still* aren’t finalized. My understanding is you can claim it once per year.

I think Tesla price increase are more along the lines of trying to manage demand. Their margins are through the roof right now.

The only way Tesla price increases stop is if demand slacks off.

 

[Tinker71]

I don't think it's per family, just per vehicle but I could be wrong.

Demand, not Tax Credit increasing prices. TSLA ran out of credit a long time ago and demand increases every day despite it.

Musk needs to take some of the money he's getting from his recent stock selloff and build another Gigafactory. Don't know how much he'll have leftover after taxes and exercising options but I'm sure it's enough to break ground somewhere if not fully funded. I'm sure Tulsa OK (was between Tulsa and Austin for Giga-Texas) would be happy to clear some red tape to buy and build quickly.

I would be interested to see how many M3/Y buyers are banking on getting the tax credit. I think that is driving demand and hence wait times/prices. I guess I am assuming the credit is retroactive to 2021. Maybe not if it passes in 2022?

 

[Ogre]

I would be interested to see how many M3/Y buyers are banking on getting the tax credit. I think that is driving demand and hence wait times/prices. I guess I am assuming the credit is retroactive to 2021. Maybe not if it passes in 2022?

Credit is not retroactive in any proposed version.

 

[Sirfun]

In all this is there a limit for the number credits a person (Married filing jointly) can claim? I would like to get a Y for my wife's primary and then still be able to claim the credit for my CT in 2024.

Also I slightly annoyed that Tesla keeps raising the price of the Y to compensate for the anticipated EV credit and people back claiming.

Tesla is a trillion dollar BUSINESS. Prices go up and down, that's the way of the world. Business as usual. If your neighbor sold his house (exactly like yours) for $300K, are you gonna list yours for $250K?
No, prices are based on what people will pay. Supply and demand, you know the scoop. Last year in October Tesla was lowering prices. Here's an excerpt from the article below.

UPDATE 10/19/2020: Tesla has further reduced the price of the Model S, now the third time doing so this year. The Model S now starts at $70,620 which is $2570 less than the most recent price reduction.


Here's an article from last Oct.
https://www.caranddriver.com/news/a32686279/tesla-price-cuts-model-s-model-x-model-3/

 

[Sirfun]

I don't think it's per family, just per vehicle but I could be wrong.

Demand, not Tax Credit increasing prices. TSLA ran out of credit a long time ago and demand increases every day despite it.

Musk needs to take some of the money he's getting from his recent stock selloff and build another Gigafactory. Don't know how much he'll have leftover after taxes and exercising options but I'm sure it's enough to break ground somewhere if not fully funded. I'm sure Tulsa OK (was between Tulsa and Austin for Giga-Texas) would be happy to clear some red tape to buy and build quickly.

I was thinking about what Elon will do with all that money (BTW he's only sold about 4% not the 10%). Anyway, none of that money is going into Tesla. Tesla is a corporation on its own, Elon doesn't fund projects.
However, Space X is all Elon's. Therefore, I think Elon is wanting to spend Billions on the spaceport HE'S building in Boca Chica, Texas. He's got to dump serious amounts of cash into that business. Here's a video of what's going on down in Boca Chica.

 

[Bill906]

Credit is not retroactive in any proposed version.

True… but if you reserve any Tesla product right now you probably won’t actually buy it until after the credit takes effect. Although as I type this, I’m realizing not many people in the general public have that kind of foresight.

 

[Crissa]

Credit is not retroactive in any proposed version.

But many aren't expecting delivery until next year.

-Crissa

 

[Ogre]

I was thinking about what Elon will do with all that money (BTW he's only sold about 4% not the 10%). Anyway, none of that money is going into Tesla. Tesla is a corporation on its own, Elon doesn't fund projects.
However, Space X is all Elon's. Therefore, I think Elon is wanting to spend Billions on the spaceport HE'S building in Boca Chica, Texas. He's got to dump serious amounts of cash into that business. Here's a video of what's going on down in Boca Chica.

Musk’s ”problem” is he’s too good at making money and not good enough at spending it.

Other billionaires are like “I want a massive half billion dollar yacht and a private island in Hawaii I can park it near”. A couple years later and $7b down the tubes they have a yacht and an island.

Musk is like: “I want to go to MARS”… 10 years later, Musk has the largest private launching service that is making billions in revenue every year.

Other billionaires: “I want the most bad-assed car ever!” $2.5m later, they have a bad-assed car.

Musk: “I want the most bad-assed truck ever!” 5 years later Tesla is selling hundreds of thousands of Cybertrucks and raking in billions in revenue every year.

 

[Crissa]

It's a good problem to have, to be sure. Elon started smart and got super-lucky on top of that.

-Crissa