Posted on 12/10/2018 5:57:38 PM PST by Hojczyk
Subsidies: President Trump's economic adviser Larry Kudlow says subsidies for electric cars and other renewable energy programs might soon be eliminated. That would be a major victory on the road to energy freedom.
National Economic Council chief Kudlow, a well-known free marketeer and supply-sider, said subsidies might disappear as soon as 2020 — interestingly, the next presidential election year. The decision comes after General Motors — the beneficiary of $2,500-$7,000 tax credits for those who buy GM's plug-in cars, not to mention two separate corporate tax cuts — decided to close five North American plants, leaving 14,700 workers without jobs. The move infuriated Trump.
"As a matter of our policy, we want to end all of those subsidies," Kudlow said. "And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it's for renewables and so forth."
Moreover, the billions of dollars of subsidies and credits don't go to all Americans, but mainly to high-income ones, since electric cars are still highly expensive on average. As the Competitive Enterprise Institute explains, "79% of EV (electric vehicle) tax credits were claimed by households with an adjusted gross income of more than $100,000 a year."
So Americans are subsidizing toys for the rich that aren't necessarily either as economic or clean as advertised.
The same is true of other "alternative energy" subsidies, by the way. We should get rid of them all. They merely distort free energy markets, which will work just fine at delivering the best energy available at the lowest price.
(Excerpt) Read more at investors.com ...
Production Tax Credits are what is killing coal and nuclear is insane.
Soon one wind generator will kill a whooping crane.
That will put the left in a death circle.
And the pollution the burning Prius created was likely highly toxic (ie a real pollutant) as opposed to the life-giving CO2 that the commies try to tell is pollution.
If you can afford a Tesla, you don’t need a subsidy (tax break) from me.
Nope.
Cali air is much cleaner then it used to be even in LA.
China on the other hand is worse than the Eastern Block used to be.
Comes from them being so "Smart".
“How about ethanol...hell cut every subsidy... better yet get rid of everything..that will kill the deep state..”
The Republican House and Senate couldn’t even defund Public Broadcasting and Planned Parenthood. The only thing the Democrats will defund is Defense and border security.
Consider the trillions wasted. Entire departments (Education, Agriculture, Commerce, Labor, HUD, much of HHS and Energy, need to be on the chopping block. Grants to non-profit social justice and community activist organizations should be eliminated today. Much of that money is funneled back into Democrat campaign coffers. Foreign aid should be slashed. As you said eliminate all subsides which are simply corporate welfare. Defense can be cut be pulling troops deployed around the world home. Let the Europeans defend themselves. The Japanese and Koreans can fund more of their own defense. We need to extract ourselves from the Middle East. Let Europe and China defend the Middle East oil fields. Get our troops out of Africa. If Congress won’t fund the wall bring our troops home and deploy them along the border. We are under invasion and are military is much better used repelling the daily border crossings than fighting the Taliban in Afghanistan.
Kill the ethanol and sell the corn to famine regions.
While were at it, get rid of those wind eyesores that kill birds by the thousands. And also the solar plants that mine the sky with hot spots that incinerate birds in flight.
>>>The decision comes after General Motors — the beneficiary of $2,500-$7,000 tax credits for those who buy GM’s plug-in cars, not to mention two separate corporate tax cuts — decided to close five North American plants, leaving 14,700 workers without jobs. The move infuriated Trump.
Verizon just announced today that they are going to lay off 10,000. Should they be prevented from participating in the next spectrum auction?
Mine it.
It’s like California minus the burning trees and brush.
Not to mention the subsidy EV owners receive by not paying liquid fuels taxes...literally taking a free ride on the infrastructure the rest of us pay for.
I understand the hydrogen mines on Jupiter are particularly rich ...
But I want to pay for rich people’s cars!
I'll have a go. Hydrogen is typically gathered from splitting methane, where the by-product is carbon dioxide. So if you have a hydrogen car, you can drive around claiming that you are only emitting water and not adding to "carbon pollution," even though its just a natural gas powered car.
Oh, NOES!!! A GREENHOUSE GAS!!! Think of the Polar Bears!
Yes. Jupiter, Neptune.
Biosynthetic is another means.
The honest truth is ending subsidies would be the best thing that ever happened to electric cars. The market is the most efficient laboratory. We’d have ones that make sense or not at all. It’s this halfway stuff that’s a killer.
If an electric car were as cheap as my truck, would drive 500 miles and could recharge in ten minutes I would buy it.
It will not do any of the above. It is an economic aberration driven by government subsidies. Electrics perhaps will have a place in short trips but you will still need that gasoline or diesel fueled vehicle for long trips. Relative to short trips, it must be competitive without subsides or it is economic garbage. One must always remember that 63% of all our electricity is generated by carbon sourced fuel. That electric car is not carbon neutral. Most of these electric cars are light of weight to achieve modest ranges least their batteries run out of electrons.
In a head to head competition of equal weights and towing capacity they are just as energy consuming in relationship to carbon emissions. Electric cars are an environmental fraud subsidized by our tax dollars.
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