In case you haven't heard, President Obama wants to change the $7,500 EV tax credit to a tax rebate.

We hope he succeeds. That’s because, as our overview below shows, an EV tax credit is not only unfair -- only those in higher income brackets can benefit fully from it -- it’s also way too complicated, so complicated, in fact, that it’s safe to say that many people will lose money because they won’t play the EV tax credit game correctly.

Meanwhile, an EV tax rebate would lop $7,500 off the cost of a new EV -- right on a dealer's lot.