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)
Yesterday, Keith Olbermann called me out for my post shaming President Obama for using the derogatory term “tea bagger”. Here’s
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