Quote:
Originally Posted by redpoint5
Subsidies for wealthy folks buying new EVs, of course.
|
Ah - I was mixing up the thread where we were talking about credit scores with this one that included tax credits.
One can make the argument that tax credits are corruption. Of course that applies to all of them and then our entire tax code is founded on corruption. Every credit, rebate, and deduction is corruption. Social Security and Medicare taxes are corrupt. (Most people pay 15.3% of income yet billionaires pay a fraction of a percent) Capital gains taxes are corrupt. Married filing jointly is corruption. etc, etc.
Or we could see that the USA decided decades ago to discourage or encourage things in society with financial incentives and we use the tax code as a way to facilitate those financial transfers.
We continue to use the tax code for social engineering because it is popular with the public. Yes, most people can point out things they don't like but at the same time they will defend their own rebates, credits, and deductions. Talk about taking away the child tax credit or mortgage deduction and there would be a revolt. To fix the system you have to take them all away and there is very little support for that.