Close the $25,000 Tax Deduction Loophole For Big SUV Buyers
Until Congress closes a hole in the US Tax Code, buyers of large SUV's like GM's Hummer and Escalade get a $25,000 deduction from their taxable income.
Meaning the rest of us subsidize those purchases, and their owners' conspicuous excess.
Solution: Call your Representative or Senator, as there is legislation to eliminate the wasteful deduction.
1 comment:
The Janesville Gazette had a lead yesterday about how the new fuel efficiency standards being pushed by Congress were a dire threat to Janesville's GM plant that builds the Yukon (and I believe also the Escalade, since it is based on the same platform). I think also this tax code change would cause this plant to suffer as well.
My opinion - they should re-tool and build locomotives and rail cars instead. There will be a few large SUVs in the near future, but they will likely be a fairly rare specialty vehicle, and probably powered with a hybrid powerplant. Trying to preserve this facility in its current form under peak oil is an exercise in futilty. GM shot itself in the foot by spinning off its railroad division, EMD, just as the US is rebuilding its trains.
If it dies for its short-sightedness, serves them right (although I sympathize with the workers who will be losing their jobs - however if we build and run more trains, they will have a crack at those jobs - jobs in the RR industry have some of the best pay and benefits in the country and nearly all pay a living wage).
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