Hey, GM still owes us money! Did they ever pay back the gubment for bailing them out? NOPE! Moved the money from one pocket to the other and said “we’re even”!
GM is subsidized too, right?
So sick of welfare for the rich and the lazy poor.
The federal government should not subsidize GM, or Tesla, or electric cars, or other “fuel-efficient” cars. As taxpayers, we should not subsidize any private businesses at all. It’s really very simple. Government is not there to pick winners and losers based on connections to those in power or based on some perceived “good of the planet”.
We also should not subsidize those too lazy to work. A dishonest diagnosis of some mental disability does not in most cases justify taxpayer subsidies for individuals. I personally know people missing both arms, and suffering severe PTSD, who still work productively; I have no sympathy for snowflakes who whine and claim that means working people owe them a living.
Electric cars simply don’t make economic or ecological sense. The government was the only thing keeping them in production. I predict that if the present government drops subsidies and tax support that the entire electric car industry will dry up and vanish in short order.
Incidentally, as of last month GM had an unsold inventory backlog of cars something like 200 days. Chrysler and Ford had a lesser amount but still way over the 30-60 days they like. Trucks and SUV’s are selling just fine. Here are the reasons. The cars are TOO SMALL. There fore people are buying larger more comfortable vehicles. Without government interference the companies would stop making cars and just let the inventory drift down over the next two years. But regulations force them to make (and sell) a large amount of small cars to keep the fleet fuel mileage at whatever the current, ridiculously low number is. The government has forced the industry into a corner where they could all go bankrupt.
And its sticker price was about half what a Tesla's is.
Kinda makes me feel sorry for today's Tesla owners.
The bigger the campaign donations and perks the bigger the subsidies.
There shoukd be no subsidies for Tesla
Tesla investors are betting that Trump will continue these subsidies???? That’s just insane.
They ARE??
Musk is pretty good at technology but he’s a genius of the first order at rentseeking.
Cut the parasite off.
I do agree with the writer’s point that these private ventures should never receive tax payer subsidies. Winnowing out winners from losers is what private capital is for. But I had to laugh about how he decided to drive the point home. Today’s price for an individual stock and the overall value of an entire company aren’t at all the same. Of such things bubbles are made to burst. I’m no fan of GM, or Tesla for that matter, and neither should receive a dime of my money unless I freely decide to invest or buy a product from them. But the latter is microscopic in comparison to the former.
Ping.
Investors believe Tesla is the next Apple.
They are wrong.
Most everybody can afford an Apple product or two.
Hardly anyone can afford a single Tesla product.................
Tesla is a stock bubble.