EV tax credits in Build Back Better Act - income limit?

[Triggerhappy007]

For someone making $millions I think you are right. But for a household making $500-$1mn that loss of the $7500 could make a difference.

I wished I had this problem.

Joking aside, a family making $500k-$1m a year should not have a problem if $7500 makes a difference.

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[Mach1E]

I wished I had this problem.

Joking aside, a family making $500k-$1m a year should not have a problem if $7500 makes a difference.

Not sure where the illusion that rich people don’t care about money came from.

You don’t get, nor stay rich wasting money.

Some of the richest people I know are also the cheapest.

 

[Triggerhappy007]

Not sure where the illusion that rich people don’t care about money came from.

You don’t get, nor stay rich wasting money.

Some of the richest people I know are also the cheapest.

I didn't say rich people didn't care about money.

 

[kennethjk]

I wished I had this problem.

Joking aside, a family making $500k-$1m a year should not have a problem if $7500 makes a difference.

Remember this, it’s usually not how much money you make but how much you spend. I’ve seen a lot of people make a lot of money and don’t have much saved.

 

[Mach1E]

I didn't say rich people didn't care about money.

What were you saying then? It seems that was what you were implying but I may have read it wrong.

 

[Triggerhappy007]

What were you saying then? It seems that was what you were implying but I may have read it wrong.

Kenneth above knew what I was saying. OP has a spending problem if $7500 of a $500k+ annual income makes a difference.

 

[yngwenli]

Kenneth above knew what I was saying. OP has a spending problem if $7500 of a $500k+ annual income makes a difference.

I think it still does (makes a difference), but I don't consider/nor feel rich/nor am rich and penny pinch so what do I know.

That $500k annual income is really "only" a $250k income after taxes in high tax states (CA/NY). A lot of wealthier people also live in wealthier locales where some would say, "basic" housing can cost $1.5 million+ (Bay Area) because who wants to live in a non house or even a place with 1 bathroom with 2 daughters? That's just embarrassing right? Schools are also a big factor for home buyers so good schools = high price.

I feel the majority of moderately rich people are pretty miserly (esp folks with families...remember, Harvard nor Stanford/any college is cheap). Multi billionaires may value their time more than a measely $7.5k, but most people aren't multi-billionaires and skipping out on the tax credit "feels" to me (and them I think) at least, a waste.

I have family in TX and their housing hasn't moved an inch really (too much land, little NIMBY building resistance)...Over 10 years, it's up < 50%. Look up places in CA and it's 200-300% with, much larger numbers to start (~$3 mil for ~1700 sqft place in Cupertino i see).

 

[Triggerhappy007]

I have family in TX and their housing hasn't moved an inch really (too much land, little NIMBY building resistance)...Over 10 years, it's up < 50%. Look up places in CA and it's 200-300% with, much larger numbers to start (~$3 mil for ~1700 sqft place in Cupertino i see).

That may be in the country, but in the metropolitan area, housing prices went up about 100% in the last 10 years.

 

[Mach1E]

Kenneth above knew what I was saying. OP has a spending problem if $7500 of a $500k+ annual income makes a difference.

Gotcha. Now that I understand what you’re saying, I still disagree.

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