To save taxes, better buy your Prius by Oct. 1
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From: Arlington, Virginia USA
To save taxes, better buy your Prius by Oct. 1
I did a quick search on scionlife and didn't see any other post about this. Since the information is time-sensitive, to be on the safe side I decided to submit it anyway.
Paul
Allscion -- an e-commerce Website with news and accessories for your Scion vehicles
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http://online.wsj.com/article_print/...823569472.html
PaulAllscion -- an e-commerce Website with news and accessories for your Scion vehicles
http://www.allscion.com/store
http://online.wsj.com/article_print/...823569472.html
The Internal Revenue Service said its tax collectors have been told that Toyota Motor Corp. this summer hit the legal production limit -- 60,000 vehicles -- that Congress imposed on vehicles eligible for a tax credit. The announcement means that federal tax credits for Toyota and Lexus hybrid vehicles will be cut in half beginning in October, the IRS said.
The $3,150 credit for the popular Toyota Prius, the largest hybrid tax credit available, will shrink to $1,575 on Oct 1.
Credits for other hybrids manufactured by Toyota, including certain Camry, Highlander and Lexus vehicles, will shrink to $775 to $1,300. Under the schedule set by the hybrid-tax-credit law, the tax break will be cut in half again to 25% of its original value six months later.
Beginning April 1, 2007, the tax credit for the Prius will be $787.50, and credits for other Toyota and Lexus vehicles will range from $387.50 to $650. No credits can be claimed for the purchase of Toyota hybrid vehicles beginning Oct. 1, 2007.
The $3,150 credit for the popular Toyota Prius, the largest hybrid tax credit available, will shrink to $1,575 on Oct 1.
Credits for other hybrids manufactured by Toyota, including certain Camry, Highlander and Lexus vehicles, will shrink to $775 to $1,300. Under the schedule set by the hybrid-tax-credit law, the tax break will be cut in half again to 25% of its original value six months later.
Beginning April 1, 2007, the tax credit for the Prius will be $787.50, and credits for other Toyota and Lexus vehicles will range from $387.50 to $650. No credits can be claimed for the purchase of Toyota hybrid vehicles beginning Oct. 1, 2007.
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Member
Joined: May 2006
Posts: 43
From: Milwaukee, WI
Originally Posted by SkaTG2k3
I hate bush...
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Defined3
Scikotics
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Joined: May 2005
Posts: 549
From: Essex County, NJ
Originally Posted by Arakel
Originally Posted by SkaTG2k3
I hate bush...
"bush sucks"
and lets face it, this happened during the bush era, and history will remember his oil routes, and note this of another example forever in our social studies books of how
"bush sucks"
bush should have done everything he could have to fight this so he would not be seen as the fall guy for not pushing hybrids... so in closing
"bush sucks"
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Scikotics
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Joined: Jun 2006
Posts: 144
From: Oklahoma
for all the bush bashers...
So many haters on bush but lets take a look at the facts:
Bush is one man, he can only do so many things hence why there is the cabinet, council of advisors, and all the branches off of the executive.
Now lets take a look directly at the whole tax cut issue...
If I recall, the tax cuts were incentives to get people to buy the hybrid cars. Now the law that was passed for this explicitly stated that all hybrid cars would get a certain percent tax cut based on their msrp until a certain quota was met, no matter the manufacturer.
But what few realized is that the original bill proposed has no such quotas and limits, it was only when the democratic senate reviewed the bill, that the quotas and limits were added. I nkow this because I followed the issue very closely. If you dont believe me, research the bill for yourself. So bush was now put in a spot where he'd get critisized either way for vetoing or passing the bill so shut up about that.
The whole oil issue, if you had the least sence of mind about oil and macroeconomics, you'd be able to understand this. But i will attempt to break it down into lay mens terms: When oil is at 68.00 a barrell, this puts the equillibrium for US oil demand at roughly 15 million barrels a day. When we look at US production, we can only produce 8 of that which requires us to import 7 million barrels a day. But, if prices were to rise to say 73.00 a barrell, US Deman equillibrium drops to a demand of 12 million barrells, but it also increases incentive for US Producers and allows them to produce 10 million barrells so we only have to import 2 million barrells. See the point there? It "Reduces reliance on foriegn imports!" What a concept! This also has a positive effect on alternative fuels becuase it provides a base of incentive for the research and developement of those. And in order to counter act the higher gas prices, tax cuts and breaks are placed on such things as hybrids which in combonation with the high gas prices, provides more than enough incentive for purchase of such vehicles?
Do you see any pattern here?
now onto social security... Blame Nixon for this and drug research.
In nixon's era, social security (already a 30 year old system) was found to be so overflowing that they decided that it should be used to provide welfare and the "universal health care" everyone so wanted. So he tried to pass such a bill, but failed. In turn though, a modified, heavily modified at that, bill was passed which allowed not only the disabled and elderly to draw from SS, but those who are deemed to unfit for work, and on and on etc... SS has been a problem since this era on and its only become evident in Bush's era due to the fact his Presidency coincides with the equillibrium point of it going into the red, or approaching it.
Bushes idea of privatizing it is all too ingenious because you get what you pay. Another reason that it is failing is that when it was established, the average death age of the elderly was 60 (back in the '30s). Due to drug research, health improvments etc, there are more people living longer and so there is more being drawn now by the elderly, than can be put in....
And before we get on the topic of war... let me end that.
We all understand Afganistand so just drop that. Onto Iraq. Recently declassified documents show that Iran and Iraq were in a weapons trade and that just before the US invaded, there was a mass movement of arms into Iran. Now lets look into Iran, and what do we see? "Iran fails to acknowlege the order to cease its Nuclear Enrichment Programs." Coincedence? I think not.
If only people would educate themselves on such matters before just popping off and saying such things as "Bush sucks.'
One last thing, its a proven fact that you will not experience a Presidents fiscal policies until 4-8 years afte rhis terms. So all you people out there who think Clinton provided the high 90's economy, thank Reagan and his "Reagonomics." If it were not for his incentives and such outlandish things such as his "Star Wars" programs, which led to the creation and establisment of the "internet" We would not have had the .com boom of the early 90's which put the stock market above the 100 percentile mark for the first time ever and provided for the huge economy growth and such.
so please, educate yourselves...
Bush is one man, he can only do so many things hence why there is the cabinet, council of advisors, and all the branches off of the executive.
Now lets take a look directly at the whole tax cut issue...
If I recall, the tax cuts were incentives to get people to buy the hybrid cars. Now the law that was passed for this explicitly stated that all hybrid cars would get a certain percent tax cut based on their msrp until a certain quota was met, no matter the manufacturer.
But what few realized is that the original bill proposed has no such quotas and limits, it was only when the democratic senate reviewed the bill, that the quotas and limits were added. I nkow this because I followed the issue very closely. If you dont believe me, research the bill for yourself. So bush was now put in a spot where he'd get critisized either way for vetoing or passing the bill so shut up about that.
The whole oil issue, if you had the least sence of mind about oil and macroeconomics, you'd be able to understand this. But i will attempt to break it down into lay mens terms: When oil is at 68.00 a barrell, this puts the equillibrium for US oil demand at roughly 15 million barrels a day. When we look at US production, we can only produce 8 of that which requires us to import 7 million barrels a day. But, if prices were to rise to say 73.00 a barrell, US Deman equillibrium drops to a demand of 12 million barrells, but it also increases incentive for US Producers and allows them to produce 10 million barrells so we only have to import 2 million barrells. See the point there? It "Reduces reliance on foriegn imports!" What a concept! This also has a positive effect on alternative fuels becuase it provides a base of incentive for the research and developement of those. And in order to counter act the higher gas prices, tax cuts and breaks are placed on such things as hybrids which in combonation with the high gas prices, provides more than enough incentive for purchase of such vehicles?
Do you see any pattern here?
now onto social security... Blame Nixon for this and drug research.
In nixon's era, social security (already a 30 year old system) was found to be so overflowing that they decided that it should be used to provide welfare and the "universal health care" everyone so wanted. So he tried to pass such a bill, but failed. In turn though, a modified, heavily modified at that, bill was passed which allowed not only the disabled and elderly to draw from SS, but those who are deemed to unfit for work, and on and on etc... SS has been a problem since this era on and its only become evident in Bush's era due to the fact his Presidency coincides with the equillibrium point of it going into the red, or approaching it.
Bushes idea of privatizing it is all too ingenious because you get what you pay. Another reason that it is failing is that when it was established, the average death age of the elderly was 60 (back in the '30s). Due to drug research, health improvments etc, there are more people living longer and so there is more being drawn now by the elderly, than can be put in....
And before we get on the topic of war... let me end that.
We all understand Afganistand so just drop that. Onto Iraq. Recently declassified documents show that Iran and Iraq were in a weapons trade and that just before the US invaded, there was a mass movement of arms into Iran. Now lets look into Iran, and what do we see? "Iran fails to acknowlege the order to cease its Nuclear Enrichment Programs." Coincedence? I think not.
If only people would educate themselves on such matters before just popping off and saying such things as "Bush sucks.'
One last thing, its a proven fact that you will not experience a Presidents fiscal policies until 4-8 years afte rhis terms. So all you people out there who think Clinton provided the high 90's economy, thank Reagan and his "Reagonomics." If it were not for his incentives and such outlandish things such as his "Star Wars" programs, which led to the creation and establisment of the "internet" We would not have had the .com boom of the early 90's which put the stock market above the 100 percentile mark for the first time ever and provided for the huge economy growth and such.
so please, educate yourselves...
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Joined: Jun 2006
Posts: 344
From: Stong Island, NY
YEA! LETS GO INTO IRAN TOO! THEN SOUTH KOREA. LET'S GO PHLAME! LETS BOMB THEM ALL.
According to you, we went into Iraq for Iran and Iraq's trade. So now we should waste another 2,300 good american soldiers lives in iran as well?
My family was DIRECTLY involved in the twin towers attack. My mother actually worked on the 104th floor. Dont believe me? She is an AVP for Aon Corp. - 2nd tower - 104th floor. She was late that day and didnt make it into the building.
We should have gone into afganistan but to not find a crippled bin laden who has been on a dialasis machine for years and years.. Now iraq for OIL!!! Have any weapons been found in iraq? NO! Let's go into iran now.
Clinton repaired the failed bush #1 economy, now bush and dick are in office to fail again.
You are 18, i cant wait for you to pay social security to find out you will not have any when you retire.
My favorite part of your whole page long rambling is that "bush is only one man" haha he is the g*d-damn president. If there were another more powerful man in the world let me know who he is.
Can i get some x2's on my post?
According to you, we went into Iraq for Iran and Iraq's trade. So now we should waste another 2,300 good american soldiers lives in iran as well?
My family was DIRECTLY involved in the twin towers attack. My mother actually worked on the 104th floor. Dont believe me? She is an AVP for Aon Corp. - 2nd tower - 104th floor. She was late that day and didnt make it into the building.
We should have gone into afganistan but to not find a crippled bin laden who has been on a dialasis machine for years and years.. Now iraq for OIL!!! Have any weapons been found in iraq? NO! Let's go into iran now.
Clinton repaired the failed bush #1 economy, now bush and dick are in office to fail again.
You are 18, i cant wait for you to pay social security to find out you will not have any when you retire.
My favorite part of your whole page long rambling is that "bush is only one man" haha he is the g*d-damn president. If there were another more powerful man in the world let me know who he is.
Can i get some x2's on my post?
Senior Member
Scikotics
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Joined: Jun 2006
Posts: 144
From: Oklahoma
once again all i see is uneducated rambling on your part. Just an FYI, I've been working since I was 15 and I graduated high school when I was 16, and I ama Pharmacy Major/Politcal Science minor. I know What the Hell I am talking about.
And my whole rant isn't about bush being one man, its about the whole aspect of him having his trusted advisors, cabinet and network of inteligence agence all who have influenced him.
I appolgize for your mother, but I actually lost two family members to the WTC and one to the Oklahoma Bombing. I know what it is like and have had to live it twice.
And if we wanted oil, we should invade either kuwait or saudia arabia as between the two, 2/3rds of the middle easts oil supplies exist there.
And once again you read my post incorrectly as you say "Now iraq for OIL!!! Have any weapons been found in iraq? NO!" for the weapons trade that was going on has been proven and basically Iran has picked up where Iraq left off. I am not all gung ho about sending troops into Iran but there is now proof of nuclear weapons testing going on, so wha twould you do?
And once again, we're experience clintons economics right now as he is the president who was pretty much a lame duck his whole office period and never did as he said. Don't believe me? Research him and find one major item he promoted in his canidacy that was accomplished.
And my whole rant isn't about bush being one man, its about the whole aspect of him having his trusted advisors, cabinet and network of inteligence agence all who have influenced him.
I appolgize for your mother, but I actually lost two family members to the WTC and one to the Oklahoma Bombing. I know what it is like and have had to live it twice.
And if we wanted oil, we should invade either kuwait or saudia arabia as between the two, 2/3rds of the middle easts oil supplies exist there.
And once again you read my post incorrectly as you say "Now iraq for OIL!!! Have any weapons been found in iraq? NO!" for the weapons trade that was going on has been proven and basically Iran has picked up where Iraq left off. I am not all gung ho about sending troops into Iran but there is now proof of nuclear weapons testing going on, so wha twould you do?
And once again, we're experience clintons economics right now as he is the president who was pretty much a lame duck his whole office period and never did as he said. Don't believe me? Research him and find one major item he promoted in his canidacy that was accomplished.
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Joined: Jul 2006
Posts: 2,338
From: Central Maryland
About the oil raid, Canada controls 40% of the world's oil supply and it's right next door. Although there wills till be oil issues amongst congress and the rest of the government, prices of gas would be much lower.
Anyone hear about the possible oil spot in the Gulf of Mexico! That could reduce gas to close, if not lower than, 1$ per gallon. It's a very large oil spot, possibly equivalent to around 35-40% of our current oil supply.
Anyone hear about the possible oil spot in the Gulf of Mexico! That could reduce gas to close, if not lower than, 1$ per gallon. It's a very large oil spot, possibly equivalent to around 35-40% of our current oil supply.
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Scikotics
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Joined: Jun 2006
Posts: 144
From: Oklahoma
If you're talking about oil shales and oil sands, then yes canada controls 40%, but the processes we have to extract and refine such oils are highly inneficient and expensive.
And the only reason gas is as low as it is is the fact that it is supremely, heavily subsidized. If the gov't were to remove just 25% of its money put into oil, prices would rocket above 3 dollars on gas.
And the only reason gas is as low as it is is the fact that it is supremely, heavily subsidized. If the gov't were to remove just 25% of its money put into oil, prices would rocket above 3 dollars on gas.
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Joined: Jul 2006
Posts: 2,338
From: Central Maryland
I just find it very annoying that just b/c elections are around the corner, gas prices are lower now. As soon as the elections are done, gas will go right back up. It's been like this forever, so I'm complaining about an ongoing and unstoppable process, but it's still a pain in the a**.
What about the oil in the gulf?
What about the oil in the gulf?
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Scikotics
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Joined: Jun 2006
Posts: 144
From: Oklahoma
the oil in the gulf is that they have found an oil deposit that can produce 500 billion barrels but the only problem that it is smack in hurricane alley, and it is one of the deepest deposits ever.