The truth is non-partisan

Tax credits to new car owners are a government subsidy to people who can afford new cars and to the automobile producers. Hybrid buyers may be eligible for a federal tax credit up to $3,400. This amount reduces the amount you pay in income taxes. By inducing you to buy a new car, the tax credit really ends up being a transfer from government to you to the automobile manufacturer.

Here are examples of government subsidies to General Motors. If you are in the market for a new car, by purchasing a 2008 Chevrolet Tahoe Two-Mode Hybrid (or its GMC Yukon Hybrid cousin), you could get a $2,200 tax credit. For buying a 2008 Chevrolet Malibu Hybrid, you could receive a $1,300 tax credit. Other GM vehicles that qualify for this tax incentive include the 2006-07 Chevrolet Silverado Hybrid, the 2006-07 GMC Sierra Hybrid, Saturn's 2007-08 Aura Green Line, and the 2007 Saturn Vue Green Line.

I have said I will never buy a new car again, so I guess this credit doesn't apply to me. However, before buying your next new vehicle (whether it be a Chevrolet or not) check out fueleconomy.gov to see if you can get on the government dole and benefit from buying a hybrid. Your contribution to the environment may not make a big difference, but at least the car manufacturer will like you.

// posted by John Fisher @ 9:11 AM