Good News! Electric Car Subsidies Help The 1%!
Who profits from the electric car subsidies? This should make the Occupiers unhappy, but, since they support Obama and the Democrats overwhelmingly, they will barely make a peep
(Fox News) Once again, going green has taxpayers seeing red. This time however, billions in federal subsidies for electric vehicles are going those who need them the least: the 1 percent.
According to the CEO of General Motors, the average annual income of buyers of the Chevy Volt is $170,000. Those who buy the luxury electric Fisker Karma or Tesla roadster earn more than $250,000 a year. Yet every wealthy buyer receives a hefty handout from Uncle Sam, adding more than $7,500 to the federal debt for every car sold.
When all the federal and state subsidies to General Motors and its Volt suppliers are totaled, Hohman estimates each Volt sold costs taxpayers as much as $250,000.
“If you’re wealthy enough to afford one of these electric automobiles more power to you,” but Hohman says the handouts and tax breaks simply transfer wealth from the poor and middle class to corporations and the rich who can afford cars that cost as much as a small home.
Doesn’t that make you feel great? Obama can play the class warfare card all he wants, but his policies have tended to help the 1%, of which Obama is part of. And his policies especially help the 1%ers who are campaign donors. And, while I support newer technologies that will provide us (eventually) with cleaner, cheaper, and more abundant power and vehicles, using money earned by hard working taxpayers to provide silly vehicles like the Chevy Sloth to people who want a status car is idiotic and deplorable.
Fortunately, there are plenty of plans to continue to provide the 1%ers with more free taxpayer money. In Raleigh, the city has built 29 electric vehicle charging stations, provided at taxpayer expense. The electricity is also free for the EV owners, paid for by the taxpayers. Supposedly, they will eventually charge for the usage.
In California, they will charge $2-$3 per charge, at a taxpayer cost of $1.3 million from a grant to build the stations.
In Detroit, electric cars and hybrids are flooding the Detroit auto show, meaning taxpayers will further fund the lifestyles of the rich. Remember, the Prius was a status vehicle early on, and has morphed into a usable vehicle. There are many usable hybrids out there, including some SUVs, like the Escape and the Highlander. But, then, hybrids can travel more than 50 miles at a clip, and they can use the air conditioning and heat. Until EVs can be purchased by regular people and take people on long trips, regular people will continue to buy gas vehicles that get great mileage.
(Photo from Political Clown Parade)
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Posted by William Teach on January 10, 2012 9:32 am
» Filed Under Alternative Energy, Anti-Capitalism, Barack Obama, Corporate welfare, Delusional Dupes and DUmmies, Fiscal Responsibility, Fox News, Government malfeasance/misfeasance, Government tyranny, Hypocrisy/Situational Ethics, News, Socialism, Taxes, class warfare, corporatism, government waste, liberalism, pork spending, social parasites
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3 Responses to “Good News! Electric Car Subsidies Help The 1%!”
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Well, Mr. Teach. I have to disagree with you about the people that tend to buy the Volt. I recently purchased one and am very happy with it. I happen to be a Dem and not making six figures. (Does that make me self-hating?) I’ve had it for about 4 weeks and look forward to the day when people stop thinking that there is something wrong with you if you want to stop polluting the environment. Do you recycle, or does everything go into the trash? Anyway, have a good day.
I am in no way a 1%er if fact I live in a house valued at about 65K, yet my leaf cost 35K. It’s not that I am rich only that I could not afford not to buy it. Too much of my monthly budget was going to gas, it used to be $500-$550 per month for two cars. Now I spend ~150 /month for 1 gas and 1 electric car and only ~$35/month in electricity @ .09 cents a Kw down from .15 cents/Kw after changing providers which saves me over ~75 /month so I still saving on electricity even with charging so its like free. Subtract the 400 savings in gas from my $550 leaf loan payment making the cost $150 / month to drive a new electric car and not have to care about what the oil nations are doing to raise the price of oil.
I hate how it is constantly reported that the poor and middle class are paying me $7500 credit for my Leaf. I am not getting a PENNY of there taxes! The only thing going on is the taxes I have to pay is reduced by $7500 and if I did not pay that much in taxes I don’t get that much back. If my tax bill is $5000 I only get $5000 credit for my car. I DO NOT get the balance from tax payers it only comes out of what I have paid.