Famous billionaire liberal and CEO of Tesla Motors, Elon Musk, receives heavy federal and state subsidies for Tesla. Musk’s companies – Tesla, SolarCity and SpaceX – have received an estimated $4.9 billion in government support in total over the years.
“Musk and his companies’ investors enjoy most of the financial upside of the government support, while taxpayers shoulder the cost,” wrote the LA Times, adding that public records show “a common theme running through his emerging empire: a public-private financing model underpinning long-shot start-ups.”
No cronyism here!
In case you don’t know, Tesla cars are extremely expensive electric cars. “Electric” is the magic pass word which enables them to receive government funding – that and the word “liberal’ of course. Being friendly with Barack Obama and giving generously to his campaign funds doesn’t hurt either.
Though after ten years in business Tesla and SolarCity still operate at a net loss, the stocks of both companies are riding high on future potential, the LA Times reported. They lose tens of millions every year.
Oh, but it’s such a pretty car and it makes rich people very happy – it’s a status symbol!
“None of the incentives are necessary. They are all helpful,” Musk bellowed, describing the various incentives as catalysts that speed up the rate of innovation, offered because voters “want a particular thing to happen, and want it to happen faster than it would otherwise occur.”
If they are only helpful, must you and I pay for them?
The car can be bought for a mere $70,000 and up. Just what the average, middle class American needs. This administration is all about the middle class after all.
In 2013 alone:
1- California GAVE Tesla a 10 million dollar grant! Tell that to the residents of Stockton, the latest California city to file for bankruptcy.
2- Others, like Colorado have added $6,000 more in state income-tax credits. Again, lets help Nancy Pelosi get one. She needs the added incentive.
3- Rebates, free parking, no state sales tax, and the use of HOV lanes were also added. I was surprised that Senator Gillibrand didn’t suggest a free Tesla for everyone getting food stamps.
4- Some states, like California, are requiring traditional car-makers to sell a certain number of electric cars or else they must pay a “zero emission credit!” Who gets that money? Tesla of course!
Alas, they still haven’t perfected their batteries which can go up in flames without warning or seeming provocation.
On New Year’s Day, a Tesla owner in Norway plugged in his Tesla Model S at a SuperCharger station near Kristiansand in the Aust-Agden region and went off to do some shopping while his battery recharged. A few minutes later, his car burst into flames and was destroyed – like totally!
The reports say Tesla fires are rare however, In March of 2014, The New York Times reported that Federal safety regulators closed an investigation into whether the design of Tesla Motors’ all-electric car was making it prone to catch fire, after the automaker said it would provide more protection to its lithium-ion batteries.
Just remember, “…there are no more cuts to make. It’s very important that people understand that.”