Elon Musk’s electric sports car venture has now enhanced its street cred by doing something rare — paying back $465 million in government loan money…early.
But as the Wall Street Journal reveals, that’s not the end of the taxpayer-funded gravy train for Tesla. Apparently, each car is built with about $45,000 of taxpayer subsidy, when you tally the federal, state and local incentives.
Of course, it’s not polite to ask, as the Journal does: “…why billionaires in California couldn’t have financed the business themselves. Why should middle-class taxpayers whose incomes are falling still pay to subsidize the purchase of cars that only the affluent can afford…?”
Riding high in the public eye at the moment, Tesla would make no profit if not for its sales of emission credits to the automakers who build the petrol-burning cars and trucks ordinary folks can afford. So, the car made by billionaires and purchased by millionaires is actually driving up the cost of transportation for us thousandaires through emission credits, not to mention spreading our “wealth” around to the rich through the tax code.
And all of this at the behest of the President whose lips drip vitriol as he spits out the imprecation “millionaires and billionaires,” and makes it clear to the proles that the rich are the reason that children go to bed hungry and stupid in America.