The electric car subsidy is not subsidizing the rich, it's subsidizing electric car sales. The rich aren't stupid (that's why they're rich). If Obama stops subsidizing electric cars, no one will buy them, rich or not rich.
No one who isn’t rich can afford an electric car so it is subsidizing the rich or well to do.
I certainly cannot afford a Volt.(not that I would want one).
I understand that GM loses about $50,000 dollars per vehicle even though it sells for $40,000.
Does it really make sense to sell a car that costs $90,000 to build for less than half that?