June 29, 2024

How much is the government really paying to subsidize electric vehicles?

Americans bought 1,190,000 battery-powered electric vehicles last year.

All but a fraction of those qualified for a "rebate" of $7,500 per car.  So roughly eight BILLION of your tax dollars were spent on "rebates."

Now add the $7.5 BILLION the biden regime has appropriated (what an anodyne word, eh?) to build more charging stations across the country.  They've built SEVEN so far, but that's just because no one's ever built one before so they're having to design 'em from the ground up.

Just kidding.  The real answer is...reasons. See?

So if you spread that $7.5 BILLION over, say, three years you end up with another $2,500 a year per EV sold.  So with the $7,500 "rebate," every time you see an EV on the street, there goes $10,000 of your tax dollars.  Is that cool?

But nasty ol' MAGA folks forget that back when the automobile was first produced, the federal government not only gave Henry Ford and friends a big subsidy per car sold, but the gummint also spent the equivalent of $4 BILLION in today's dollars to help John D. Rockefeller start Standard Oil and build a network of gas stations all over the country!  Really!  At least that's what joe biden tol' me.  He said he was friends with ol' John D.

Okay, just kidding: Ford didn't get any subsidy or rebate for each car sold, and Standard Oil opened gas stations without taking a single dollar of your taxes.  But ouah government is WAY more sophisticated now, eh?  Why wait for the free market and better technology to develop a product people will want to buy without any subsidy, when the preznit and a Democrat congress can make it happen way faster, eh?

See, when advanced countries like China and Russia want a product, they simply order it done, and it happens fast.  But clunky, slow free market capitalism is still plodding along, waiting for technology to get going.  It's no wonder a majority of students in east coast universities said they preferred communism to capitalism, eh?

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