Jeep is in the business of selling people more than one vehicle. They will happily sell you a fully electric Jeep to go along with your ICE Jeep. No need to choose.
When the fully electric comes out, I will be getting one. Something about $6 in electricity for a fill up and no maintenance is what I like.Jeep is in the business of selling people more than one vehicle. They will happily sell you a fully electric Jeep to go along with your ICE Jeep. No need to choose.
No, I understood your point just fine. You claimed that the tax credit creates the deficit. But it's spending that creates the deficit.Go back and read what I wrote. You seem to be picking and choosing to try and make some unknown point. My intent has been to provide technical information about various aspects of the system.
Any yes, whenever the government spends more than it takes in, it puts a burden on current and future taxpayers to make up the difference, since the governments primary income source is what it collects from the taxpayers.
No, I understood your point just fine. You claimed that the tax credit creates the deficit. But it's spending that creates the deficit.
It is not incumbent upon the taxpayer to make up for the failures of govt. Keeping more of your own money cannot CREATE a burden upon others.
For that to be true, govt must be considered to have a prior claim on all property (income in this case). In this sense, anything govt allows you to keep may be considered a "payment," and create the deficit.
You also argued that the tax credit is a "reduction of the taxes they should be paying."
This puts the tax credit, by your argument, outside of the taxpayer's "calculated share."
My point is that almost all refunds...the "excess paid in"...arises from arbitrary reductions in the tax demanded. Otherwise we'd just pay tax on gross income.
You are arbitrarily defining the credit as being "more than a return of excess paid in." But the standard deduction, or itemized deductions, are not fundamentally different, and are a "reduction of the taxes they should be paying."
There's no reason the phev credit shouldn't be considered a part of the calculated share, just as with the child tax credit (just as arbitrary).
If anything, it's a stronger argument to eliminate all deductions and credits as long as a deficit exists.
For 2020, the IRS collected about $3.4 trillion in taxes. There was a deficit of $3.1 trillion. And yet more than $736 billion in refunds were issued. That's not insignificant.
Those refunds have exactly the same effect on future taxpayers as the phev tax credit. But you only indict the latter.