Elizabeth Warren: Elon Musk ‘Didn’t Make It on His Own — He Got Huge Investments from the Government, from Taxpayers’

Breitbart ^ | 03/29/2022 | Trent Baker

[CitizenUSA]

Musk is a recipient of many government subsidies, low interest loans, tax credits, etc.. Even Obama’s electric vehicle tax credit indirectly helped Elon Musk by increasing demand for EVs. That wasn’t a direct payment, but it used government money to benefit Musk. He is hardly a proponent for the free market. Well, maybe now he is, but he didn’t build his empire without a great deal of government $.

[SmokingJoe]

Musk is a recipient of many government subsidies, low interest loans, tax credits, etc..

Musk has taken just ONE loan of $465 million from the federal government in 2008 when the economy crashed . They paid the money back with interest IN FULL and EARLY. The federal government made a profit on that transaction.
In the same 2008, GM received a staggering $50 Billion rescue package from the federal government, of which GM couldn't pay $11 Billion back and the federal government had to write that $11 Billion off.
Right now Tesla's don't get any EV tax credits and haven't for close to 3 years, yet Tesla totally dominates the US EV far sales with over 70% market share in 2021.
Even when Tesla buyers used to get EV tax credits, the same EV tax credits were available to GM and Ford.

[CitizenUSA]

Whether Tesla qualifies for the tax credit now or not, the point isn’t whether he is currently benefitting from government largess. The point is he was/did benefit from large amounts of government taxpayer money. I applaud his expressed desire to end all government subsidies, but he did personally benefit from them in a big way. Others could have done the same, and did not to extant Musk did so that’s a credit to his business acumen.

[liberalh8ter]

Like she still is.

[SmokingJoe]

The point is he was/did benefit from large amounts of government taxpayer money

Just like GM and other car makers did.
Tesla cars didn't get EV subsidies other car makers were not getting.
And Tesla paid back every penny of the $465 million government loan they got in 2008. Early and with full interest.

[CitizenUSA]

Exactly. Others are also getting massive tax breaks, credits, low interest loans and grants. I never claimed Elon Musk was the only one. I only made the point that Warren was right that Musk did indeed benefit from it.

[SmokingJoe]

So did the government when they get their money back early with interest, same as banks make money charging interest on loans they give out.
Especially since GM got a massive $50 Billion dollar loan but then failed to pay back $11 Billion of it.

U.S. government says it lost $11.2 billion on GM bailout

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