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ejward



Joined: Jan 06, 2003
Posts: 7054
PostPosted: Wed Nov 19, 2008 10:41 am    Post subject:
Here's the Hybrid scoop:

http://www.hybridcars.com/federal-incentives.html

I guess in 2004 and 2005 it was a deduction. You claimed it on your taxes. It would vary by how much you made. you would get something back no matter what.

For 2006, it was changed to a tax credit. The difference being the maximum you could get back. As a deduction you would always get something back. If you owed $500 in taxes and you put in the $2,000 hybrid deduction, you'd get a $1,500 refund. As a tax credit, you can't go below zero. So, if you owe $500 in taxes and you put in the $2,000 hybrid tax credit, you'd get a check for $500. Anybody who already gets a tax refund, would get nothing.

The other thing that changed for 2006 was that a limit was instituted. The tax credit would only apply to the first 60,000 hybrids sold per manufacturer. Both Toyota and Honda hit that number in 2007 so ..... no more tax breaks for these cars. I'm not sure if that's good or bad. It forces people to buy American I guess but, I didn't even know you could get a tax break on an American hybrid. Either way, I already get a refund so i wouldn't get anything anyway. Hopefully this will change.

I guess it comes down to this. Politically, I guess there is a tax incentive for hybrids. Effectively, there isn't.
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Gezzer



Joined: Oct 19, 2008
Posts: 666

Location: Buckinghamshire England
PostPosted: Wed Nov 19, 2008 5:38 pm    Post subject:
i think this maybe the future of motoring …

http://en.wikipedia.org/wiki/Air_vehicle
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xavierx



Joined: Nov 06, 2004
Posts: 5427
PostPosted: Wed Nov 19, 2008 9:10 pm    Post subject:
Ejward: I think you have that backwards. A tax credit is a credit that goes against the tax that you owe, and can result in you getting more back than you pay in (like with Earned Income Credit). A deduction simply reduces the amount of taxable wages you have, and can't get you below $0 income. I think you can have non-refundable tax credits as well, which is what I suspect the hybrid credit is based on what you said.

I looked at hybrids, too, and found that the rules were basically what you said. There were some newer hybrids that would still qualify, but I couldn't afford them (which is the problem I have with hybrids anyway - nothing against them per se, but the only people who can buy them (in general) can afford to pay more for gas in the first place!).


Ken: I have a 3 year old - I can't trust him not to do something like lick the bulbs (3 year olds put everything they find in their mouths!).
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kenmabmcc



Joined: Nov 20, 2003
Posts: 8181

Location: Dunedin, New Zealand.
PostPosted: Thu Nov 20, 2008 3:31 am    Post subject: [Login to view extended thread Info.]
xavierx wrote:
Ken: I have a 3 year old - I can't trust him not to do something like lick the bulbs (3 year olds put everything they find in their mouths!).


I do understand where you are coming from.

But the mercury is inside the tubes...
..unless the tubes get broken...then we are back with the three year old..
How often do small kids break lights ?
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tony7914



Joined: Dec 24, 2004
Posts: 4965

Location: Peru Indiana
PostPosted: Thu Nov 20, 2008 11:52 am    Post subject: [Login to view extended thread Info.]
Gezzer wrote:
i think this maybe the future of motoring …

http://en.wikipedia.org/wiki/Air_vehicle


I don't think it would work out in North America, too cold. I'm not sure I would want to be traveling down the road with a 4500 psi tank under me either. An Oxygen cylinder used in welding has about 2000 psi and will go through a concrete block wall 8" thick if the valve is sheared off. Could you imagine the things that might pass through your body in the small space inside the cab of a car if you were involved in an accident?
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ejward



Joined: Jan 06, 2003
Posts: 7054
PostPosted: Thu Nov 20, 2008 3:33 pm    Post subject: [Login to view extended thread Info.]
kenmabmcc wrote:
xavierx wrote:
Ken: I have a 3 year old - I can't trust him not to do something like lick the bulbs (3 year olds put everything they find in their mouths!).


I do understand where you are coming from.

But the mercury is inside the tubes...
..unless the tubes get broken...then we are back with the three year old..
How often do small kids break lights ?


And at that point, licking ANY bulb would be bad.
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kenmabmcc



Joined: Nov 20, 2003
Posts: 8181

Location: Dunedin, New Zealand.
PostPosted: Thu Nov 20, 2008 4:53 pm    Post subject: [Login to view extended thread Info.]
ejward wrote:

And at that point, licking ANY bulb would be bad.


They tell me broken glass adversely affects the digestive system...
Very Happy
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tony7914



Joined: Dec 24, 2004
Posts: 4965

Location: Peru Indiana
PostPosted: Fri Nov 21, 2008 2:27 pm    Post subject: [Login to view extended thread Info.]
kenmabmcc wrote:
ejward wrote:

And at that point, licking ANY bulb would be bad.


They tell me broken glass adversely affects the digestive system...
Very Happy


Lmao!!

You know, my kids got into a lot of things when they were small but I can honestly say neither of them ever tried to lick a light bulb. They touched a lite one.................once, but never licked one Wink
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rovingcowboy



Joined: Jan 26, 2003
Posts: 1279
PostPosted: Sun Nov 23, 2008 10:26 am    Post subject: [Login to view extended thread Info.]
tony7914 wrote:
ejward wrote:
I can remember hearing about how we have enough oil in shale to supply us for 100 years on the Merv Griffan show ...... That must have been at least 25 years ago. I'll beieve it when I see it.


It's still there because they haven't touched it yet ej. When gas was at or below $1.00 a gallon it wasn't feasible to try and extract it but with prices they way they are now it is. Ending our foreign dependence on oil is a priority with our new administration and should have been done a long time ago, in the short run using what we have here is the best and cheapest way to go.

Here's an interesting read on oil shale. Link.



that link you gave goes to a site about the green river shale site.

man that is small compaired to what they found now.
theres one basin that goes under the dekoatas and one third of canada.
theres enough in that basin alone to make us and canada indpendent on oil for over 200 years. and canada is already working it.

theres a oil company in PA. that has already got 5 rigs in that basin and have plans to add about 5 more this 2009. so theres a major boom on in that basin in the usa. some of canada's is too cold to get too right now.
but thats a lot of oil.

and in 50 years or hopefuly less we won't be using much oil base fuel but we still need it to make the plasitic objects we use.

if we cut back on the fuel, that could be changing the 200 yrs. to over 400 yrs of oil in that shale.

and we are already cutting back on oil fuel. theres a power company in the southern states called duke power, they are working deals with people and companys with putting solar panels on the roof of house's and company buildings. they will rent the space and pay you to put them on your roof. plus you get cheaper power bills as it is cheaper to make with solar power cells then burning fuel.

so that is one company already moving in to the future of power supply.

of which its main source is said to have a life span of a few billion years?
Cool
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