In 2011, General Motors (GM) has sold about 8,000 Chevy Volts – its electric car.
For each Volt sold – the Federal Government in 2011 has spent $7,500 in tax credits – a total of about $60 million.
Obama’s new budget calls for raising the federal tax credit to $10,000 for 2012.
Some states (such as Utah, Colorado, Maryland and others) are offering additional tax credits on top of the Federal tax credit, with Illinois topping them all with its own $7,500 tax credit.
Who is getting all these Government hand-outs?
“The Volt appeals to an affluent, progressive demographic,” (in other words: rich Liberal yuppies) says Bill Visnic, senior editor for Edmunds.com “It’s rare. It’s hard to get one. … It’s the same reason that people buy the really rare exotic cars: Because other people can’t have one.”
GM says the average income of Volt buyers is $175,000 a year.
But on March 2, 2012 GM has announced it will lay off 1,300 employees and halt production of Volt due to excessive supply and low demand.
To sum it up:
- Government ads $60,000,000 to the nations’ debt
- Government chooses who gets the perks – affluent progressive Liberals
- 1,300 employees are out of work – a ‘return’ of $46,000 per laid-off employee