So taxpayers can continue to subsidize his lame-o electric cars to the tune of $7,500 a pop?
Read more at ValueWalk.
Technically, so he can sell a lot more of his tax collection machines. This one works not on electricity, but on the vanity of the well-to-do and their willingness to let others pay for it.
In addition to the direct tax rents collected on the sale of the car, the company apparently reported that it made $68,000,000 in California mandated offsets received from other manufacturers. At the same time, they netted only $11,000,000. I guess we should feel blessed he didn’t call for a federal offset program. Under any scenario, the car’s financial reason for being is to collect government mandated money. It sure isn’t saving the environment either.
Thus Gamecock’s comment that, when the government picks winners and losers, it only picks losers.
This brand of rent-seeking is often called crony capitalism. It is a distortion of free markets. In the case of Tesla and the other electric cars, it’s having only an annoying affect. Writ large, though, it sucks wealth and damages the standards of living of the first four quintiles of income. And here I am in the third quintile.
Another Obama terrorist. Is Obama really funded by al Qaeda and al Gore?
End all federal and stae subsidies and Tesla will file for Ch 11 relief within two years.
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