Posted on 02/13/2012 2:07:07 PM PST by Hojczyk
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.
That welcome is critical for President Barack Obama, who is touting his support for blue-collar manufacturing programs to help offset his low public approval ratings.
The new subsidy level represents a 33 percent jump from the current $7,500 government payout for each Volt buyer, even though the Volt’s buyers are already among the wealthiest Americans. It will be offered to buyers of any new-technology autos, including battery-powered autos and cars powered by natural gas, said a White House official.
The extra money for wealthy buyers will be borrowed funds, eventually paid off by future taxpayers in all income brackets.
(Excerpt) Read more at dailycaller.com ...
I bought a Yaris for about $10000 a few years ago.
It made more sense than this.
I understand that the actual sunken cost per Volt is about $250,000. Gotta “sell” lots of them to get anywhere near break even (forgetaboutit). In a few years, you will have to take a Volt (you’ve already bought it), if you want to continue to drive.
This is beyond ridiculous!.....FUBO!
How do coal fired cars help the enviroment?
So now they might sell more than 603 Volts, er, Coal powered cars in a month.
“but it will likely also will be welcomed by auto-industry workers in the critical swing state of Michigan”
Hmmm...will this subsidy cause MORE cars to be sold? I doubt it. It just might push buyers from one model to another....so I wonder what those blue collar workers in TN, SC, and AL think about this.
A Honda Civic GX (a CNG vehicle) would cost less than $20K with the subsidy, however there is only one place within 25 miles where I can fill it. There are about ten places where governmental vehicles can fill up.
So GM will just raise the price of the Volt another $3K. Ah. Now we can see this for what it really is.
The GOP needs to hit 0bama in the general about how he is subsidizing the rich. Just ask the public whether or not 0bama has helped them buy a $50,000 automobile lately. Why do rich people get car subsidies? Why to rich companies get subsidies?
We all know the answer but we need to get people thinking about this in Sept or Oct.
Obama is busy redistributing.
Obama wants to tax the airlines (and passengers) an additional $32 billion so he can give $10 billion per year to his “green” campaign donors.
I hope enough people realize that Obama is bankrupting the USA and give him the boot in November.
Obama is busy redistributing.
Obama wants to tax the airlines (and passengers) an additional $32 billion so he can give $10 billion per year to his “green” campaign donors.
I hope enough people realize that Obama is bankrupting the USA and give him the boot in November.
why do the rich need subsidizing??
Why would we want a million coal-powered cars?
It’s outrageous this whack-job Obama wants to raise the tax credit on EV’s to $10,000. I honestly don’t see it passing the House.
Everyone should be contacting their representatives in congress to support Rep. Mike Kelly’s bill to kill the $7,500 tax credit.
This tax credit is for all EV’s that qualify and includes the Chevy Volt and Nissan Leaf.
Hell, who benefited most from cash for clunkers? It sure wasn’t the poor, they got higher used car prices while the wealthiest people I know got deals on new cars.
The Volt has a 16kwh battery…but only 12kwh is used to charge it…its range is allegedly 40 miles…but most never see that.
The most common source of electricity is coal, which averages around 2.17 lb co2 per kwh.
So, a Volt produces 0.65 lbs co2 per mile.
A gallon of gasoline produces 19.4 pounds co2…so, a 30 mpg car would produce around 0.65 lb co2 per mile.
What can we learn from this? A Volt, which gets better than 30 mpg in gasoline mode, is ‘better’ for the environment than a Volt in electric mode.
What are some other cars, which don’t need a subsidy, and are ‘better’ for the environment? Well, I’ve got my eye on a 2012 Elantra, with an EPA combined mileage of 33 mpg, built in Montgomery, Alabama…with an MSRP of $15,500.
My congresswoman will never vote for this budget; but, I’m going to write her…everybody should write their congress-critter and editor, asking why we need to plunk down $10k on a DIRTY car, with major components built in other nations, for an average buyer who makes over $170k a year.
Disclaimer: I do not believe in global warming…just using the currency of the left – co2, for discussion.
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