re: Do you reflexively think luxury car = rich driver and old car = poor driver?

quote:

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One key factor being missed in here is the tax advantage of purchasing a vehicle enabled by The Tax Cuts and Jobs Act of 2017. Vehicles over 6,000 ibs GWVR qualify for 100% bonus depreciation through December 31, 2022.

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File this among one of the many reasons I chuckle at the hand ringing over throwing some money at people with kids and stimulus checks. At the end of 2017, after 7 consecutive years of economic expansion and near full employment, congress passes a tax bill with incentives like this.

I blame no one for taking advantage of this, but the policy rationale for this change to the tax code at the end of 2017 is awfully flimsy.