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Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer

 
Cat Mouth
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02/15/2012 07:30 AM
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Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
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.

Pennsylvania Republican Rep. Mike Kelly, who owns a Chevy dealership, has already introduced legislation to end the auto subsidies. “The nation is $15.2 trillion in debt and climbing, so we’ve got to be a lot more careful about how we spend the money,” he told The Daily Caller in January.

Read more: [link to dailycaller.com]


Read more: [link to dailycaller.com]
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02/15/2012 07:37 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
THE OIL COMPANIES HAVE GOTTEN 30 BILLION DOLLARS A YEAR IN SUBSIDIES THANKS TO BUSH AND THE GOP WILL NOT STOP IT!
Anonymous Coward
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02/15/2012 07:49 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
Where can we get one of these electrics?
IS-BE

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02/15/2012 08:09 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
The average current price for a new Volt is about $39k. So with the subsidy a Volt would be about $29k.
Anonymous Coward
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02/15/2012 08:18 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
And after only hundred thousand miles you must replace its fue cell for one to two thousand dollars. The part of the deal they dont want to tell you.
Anonymous Coward
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02/15/2012 08:21 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
And Chevy increases price of Volt 2,500 dollars. Wouldn\'t doubt it at all.
Anonymous Coward
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02/15/2012 08:34 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
Just as findings come out that the electric cars are even more polluting than gas ones.
Anonymous Coward
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02/15/2012 08:41 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
Just as findings come out that the electric cars are even more polluting than gas ones.
 Quoting: Anonymous Coward 10840134


bsflag
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02/15/2012 09:03 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
hahaha if they make it for everyone watch it go to the japs or koreans even at $10000 only the very wealthy limo libslike pelosi will buy a 40 mile range car.like the thread said its all about laundering tax $ thru UAW back to you know whos campaign.pigchef
Anonymous Coward
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02/15/2012 09:45 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
Just as findings come out that the electric cars are even more polluting than gas ones.
 Quoting: Anonymous Coward 10840134


bsflag
 Quoting: Anonymous Coward 10621664


not at all

[link to www.utk.edu]
Anonymous Coward
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02/15/2012 11:45 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
Just as findings come out that the electric cars are even more polluting than gas ones.
 Quoting: Anonymous Coward 10840134


bsflag
 Quoting: Anonymous Coward 10621664


It's not really BS. It is a mistake to look only at "tailpipe" emissions. Sure, on an electric car there are no tailpipe emissions, but how did the electricity to charge the battery get generated? (coal, nuclear, natural gas). Increasing the number of electric vehicles will put an even greater demand on the grid, leading to higher electricity prices. More power plants will need to be built, and guess who pays for that (hint: electric utility customers through higher rates.)

What about the impact of mining rare earth minerals to make the battery? How about disposing of the highly toxic lithium battery once its service life is over?
Anonymous Coward
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02/15/2012 11:47 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
Just as findings come out that the electric cars are even more polluting than gas ones.
 Quoting: Anonymous Coward 10840134


bsflag
 Quoting: Anonymous Coward 10621664


not at all

[link to www.utk.edu]
 Quoting: Anonymous Coward 10840134


Well... to be fair your article mainly talks about China, where the electricity used to charge electric vehicles is generated by coal-fired plants. Over here we use mainly nukes and hydro so the emissions at the source of generation are much less.
Anonymous Coward
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02/15/2012 11:49 AM
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Re: Obama hikes subsidy to wealthy electric car buyers to $10,000 per buyer
The average current price for a new Volt is about $39k. So with the subsidy a Volt would be about $29k.
 Quoting: IS-BE


So OP's article title about "wealthy" buyers is a little misleading then? $29k is not all that much for a car, and then when you consider you won't be buying much gas the total cost of ownership goes down even more.

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