Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it — a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.
Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. His analysis included 18 government deals that included loans, rebates, grants and tax credits. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government. …
“This might be the most government-supported car since the Trabant,” said Hohman, referring to the car produced by the former Communist state of East Germany.
At least there is a lesson to be learned from the Volt debacle, for those with enough sense to learn it.
“It just goes to show there are certain folks that will spend anything to get their vision of what people should do,” said State Representative Tom McMillin, R-Rochester Hills. “It’s a glaring example of the failure of central planning trying to force citizens to purchase something they may not want. … They should let the free market make those decisions.”
Even with the massive subsidies, these impractical vehicles are outrageously expensive. Who the hell buys them?
According to GM CEO Dan Akerson, the average Volt owner makes $170,000 per year.
That is, we are breaking our backs to pay taxes that subsidize politically correct toys for rich moonbats. Yet for once I don’t hear Occupy Wall Street commies screeching about the 1%.
On a tip from Mike P.