Thursday, February 16, 2012

Chevy Volt Subsidies

Why is Obama taking money from me to give to rich people so they can buy another car?

The Daily Caller
The White House intends to boost government subsidies for wealthy buyers of the Chevy Volt and other new-technology vehicles — to $10,000 per buyer.

That mammoth subsidy would cost taxpayers $100 million each year if it is approved by Congress, presuming only 10,000 new-technology autos are sold each year.

But the administration wants to get 1 million new-tech autos on the road by 2015. The subsidy cost of that goal could reach $10 billion.

The planned giveaway will likely prompt populist protests from GOP legislators, but it will likely also will be welcomed by auto-industry workers in the critical swing state of Michigan.

It's an election year and Obama needs votes!

I guess Elon will be happy since the Tesla cars will probably qualify for the $10k credit.

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