$100K BMW ActiveHybrid 7 qualifies for laughably small $900 credit

18 May 2015 | Author: | Comments Off on $100K BMW ActiveHybrid 7 qualifies for laughably small $900 credit
BMW ActiveHybrid 7

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100K BMW ActiveHybrid 7 qualifies for laughably small $900 credit

2011 BMW ActiveHybrid 7 Click above for high-res image gallery

If you’ve got $103,125 to dish out for a brand-spankin new 2011 BMW ActiveHybrid 7. then chances are quite high that you don’t really care about getting $900 back on your purchase. Just in case you do, though, you should know that BMW’s flagship sedan has been approved for a $900 federal income tax credit under an incentive program for efficient hybrid vehicles.

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npd2983

The people who can afford a $100K car are VERY unlikely to be able to qualify to take the $900 credit due to their personal income levels and the Alternative Minimum Tax.

Even if they aren’t hit by the AMT, they are paying 35% tax, so I really don’t care if a person making $100K a year ends up paying $34,100 in taxes instead of $35,000. Big woo.

The real shame is that 45% of Americans pay no income taxes at all. Everyone should pay some part, even if it is very small.

18% improvement is significant in the fuel it saves. It is more significant that a Prius going from 50mpg to 58mpg.

Also thank rich people for buying hybrids that have lithium ion batteries in them. They are so expensive now that only a few can afford them, but when rich people are early adopters it make the technology possible. Only after a technology becomes possible, does it become practical. Is Toyota, Honda or Ford offering lithium ion batteries?

Are average Americans buying them? No? That’s what I thought.

BMW ActiveHybrid 7

Cheers!

lne937s

Income tax is only one of the taxes people get hit with. The majority of people pay more in Payroll tax than Income tax, and people making less than $100,000 pay the vast majority of payroll taxes. Payroll taxes make up over 36% of federal revenue, compared to 45% for individual income taxes.

To imply that they do not pay taxes by stating they pay no income taxes at all is misleading.

Dave D

ine937 beat me to the punch on that one. And when you are a single mom making a very low salary, and they take out payroll taxes and you’re still left paying taxes on everything else (even sales tax) it’s a very large percentage of your overall money to spend.

I’m more concerned with why Exxon paid no US income tax last year. How does a US corporation, that makes the lion’s share of it’s revenue in the US, not pay a single penny in US income tax. How can a Texas based company make $442.85 BILLION and not pay taxes in the US?

AND get subsidies and favorable loans?

Yes, I’m off subject here, but you brought up taxes and fairness. -)

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