Thursday, July 14, 2005

Heavies & Hummers

"Hummer" vehicle drivers really make you want to hug and kiss all your Neo-Con friends big time, don't they? Many Hummer vehicle owners are able to take advantage of a tax bonanza which allows them to write off most if not all of the costs of their gas guzzling rides.

Tax advantages have been codified into law which permit this. Many Americans have taken advantage of this appallingly obscene and stupid tax advantage. There were some attempts for getting rid of the credit in 2004, but that was not to be. Fortunately for greed, Oklahoma Republican Don Nickles stepped in and proposed that ALL vehicles used for 'business' qualify equally for the investment credit tax break - not just those over 6000# GVW. That was not to be however, and this Republican administration used the 'reform' excuse to settle on RAISING the total available tax break from $25,000 per vehicle to $100,000 PER VEHICLE over 6000# GVW (Gross Vehicle Weight)! - and it was subsequently signed into law by our own brave "War President". The bean counters say this will cost the treasury over 17 billion dollars in ten years. I'd be really surprised if it weren't lot's more.

Our brave President wants you to know he is very concerned about the looming energy shortages in our country. He is so concerned about that in fact, that he would really like to open up the Arctic National Wildlife Reserve (ANWR) oil exploration & drilling. And, his coporate contributor friends in the energy business would really, really like that too!

The tax boys are all busy telling their clients the advantages of owning one of these fuel guzzling heavyweight vehicles over owning a 'luxury car'. Here's some typical hype:

"Regardless of how much is spent on luxury cars--anything under 6,000 pounds, that is--the depreciation allowance is capped at $3,060 the first year and dwindles to $1,775 from the fourth year onward. "You'll probably trade in that vehicle before you've recovered its cost in depreciation," says Bob Trinz, editor of RIA's Federal Tax Weekly Alert newsletter.

Now look at what can be written off if you buy a $45,000 SUV over 6,000 pounds. Up to $20,000 of the initial cost can be written off in the first year as a business equipment expense. Then another $5,000, or 20% of the balance, can be written off as depreciation. The next year, 32% of the balance can be depreciated. At the end of five years, the entire cost will have been written off."


The only thing you can know for sure is that almost any owner of one of these (without a really good valid business reason like contracting or something) is merely an ego-centric, self-centered, greedy Son of a Bitch (or Bitch as the case may be). The sad part is that there are so many Americans who now fit that bill. Unfortunately, greed seems to be a very powerful motivating force in our country - and any sort of personal responsibility comes in last it seems.

Hummer vehicles aren't the only ones to qualify though, the following other vehicles also make the 6000# gross vehicle weight qualifying floor. (You've probably wondered why you see so many big crew cab 4WD pick-up truck rigs head into the downtown parking garages every morning!):

BMW X5, Ford F150 Styleside 4WD, Cadillac Escalade ESV, Ford F250 Super Duty Super Cab, Chevrolet Astro Passenger Van AWD, Ford F350 Super Duty DRW Super Cab, Chevrolet Avalanche 2500, GMC Safari AWD Passenger Van, Chevrolet Express Passenger Van 3500, GMC Savana Passenger Van 3500, Chevrolet Silverado 3500, GMC Sierra 350 & Sierra Denali, Chevrolet Suburban 2500, GMC Yukon XL, Chevrolet Tahoe, Hummer H1 & H2, Chevrolet Trailblazer, Land Rover Discovery, Dodge Durango, Land Rover, Range Rover, Dodge Ram Cargo Van 3500, Lincoln Navigator. Dodge Ram MaxiVan 3500, Lincoln Blackwood, Dodge Ram Wagon, Mercedes M Class 320 and 500, Dodge Ram 1500, Mercedes ML55 AMG, Dodge Ram 2500 & 3500 two-door, Porsche Cayenne, S and Turbo, Ford Econoline E350 Van, Toyota Land Cruiser, Ford Econoline E350 Passenger Wagon, Toyota Sequoia 4WD, Ford Econoline E-150, E-250 and E-350, Toyota Tundra 4WD Access Cab, Ford Excursion, Volkswagen Touareg, Ford Expedition, Volvo XC90 (optional third row seating)

In my own small town, for example, one small auto dealer has, count 'em, TWO Hummer rigs - a yellow one and a shit brown one - and is writing both off I'm sure! There are a couple more around as well, with their owners driving around with their noses up in the air at an angle of at minimum 45 degrees. . . but, how many of the other kinds are out running around and they just don't stand out so much - yet they are still costing us billions in terms of energy wastage, environmental damage, and money removed directly from the Treasury?

2 comments:

  1. Thank you, I just shared this with my entire family tonight. All of us were enlightened. We live in Connecticut and see these vehicles around ALL the time.

    On the road where I work. There is someone with black hummer with every accessory, and he literally drives up and down the road for lunch and back to work. It's the most pointless vehicle.

    Or the women I see driving around during the day on the cell phone cutting me off in their Ford Excursions. The percentage of people in this country or any country for that matter that needs that vehicle.

    Great research!

    ReplyDelete
  2. Right ch'are . . Thanks for your comment. I had a look at your own web site and am suitably impressed!

    Thanks,
    Gnarly

    ReplyDelete

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