Obama to raise Chevy Volt subsidy to $10,000 per buyer, increasing Natl Debt by $10 billion

[Little-Acorn]

I guess he figures the National Debt isn't big enough.

You know, if a car is worth having, usually you don't have to pay people to take it.

Will this man EVER stop giving away money we don't have, just to buy votes in swing states?

-----------------------------------------------------------

http://dailycaller.com/2012/02/13/obama-hikes-subsidy-to-wealthy-electric-car-buyers/

Obama hikes subsidy to wealthy electric car buyers

by Neil Munro - The Daily Caller
Published: 2:10 PM 02/13/2012 | Updated: 4:44 PM 02/13/2012

The White House intends to boost government subsidies for wealthy buyers of the Chevy Volt and other new-technology vehicles — to $10,000 per buyer.

That mammoth subsidy would cost taxpayers $100 million each year if it is approved by Congress, presuming only 10,000 new-technology autos are sold each year.

But the administration wants to get 1 million new-tech autos on the road by 2015. The subsidy cost of that goal could reach $10 billion.

The planned giveaway will likely prompt populist protests from GOP legislators, but it will likely also will be welcomed by auto-industry workers in the critical swing state of Michigan.

That welcome is critical for President Barack Obama, who is touting his support for blue-collar manufacturing programs to help offset his low public approval ratings.

The new subsidy level represents a 33 percent jump from the current $7,500 government payout for each Volt buyer, even though the Volt’s buyers are already among the wealthiest Americans. It will be offered to buyers of any new-technology autos, including battery-powered autos and cars powered by natural gas, said a White House official.

The extra money for wealthy buyers will be borrowed funds, eventually paid off by future taxpayers in all income brackets.

 

[dogtowner]

subsidy to be upped to 10k

no this is not the Onion. its BO again buying rich liberal votes.
but if there is any sort of silver lining it applies to lp gas ones too (although they are not new-tech).

The new subsidy level represents a 33 percent jump from the current $7,500 government payout for each Volt buyer, even though the Volt’s buyers are already among the wealthiest Americans. It will be offered to buyers of any new-technology autos, including battery-powered autos and cars powered by natural gas, said a White House official.

beat me to it threads merged.

 

[Alias]

The Govt is in the car business. Well, well, imagine that.

 

[dogtowner]

the question I have is who gets all these credits for the ones sold to Uncle Sam ( huge chunk of them) ? does Sam get a majority owners discount ?

and of course, to all the folks complaining about Wall Street/Big Oil/etc handouts are you equally outraged by this ? its the same thing.

 

[Alias]

the question I have is who gets all these credits for the ones sold to Uncle Sam ( huge chunk of them) ? does Sam get a majority owners discount ?

and of course, to all the folks complaining about Wall Street/Big Oil/etc handouts are you equally outraged by this ? its the same thing.

They don't care. Their double standard takes care of any problem with this.

 

[pocketfullofshells]

This from the people who never paid for a tax break for the wealthy who have a frontrunner whos tax plan raises taxes on the poor and lowers even more on the rich.

Its funny and sad how attacking the Volt is now a passtime for you...its not even a tax break for the Volt...the Volt is one car that can get it...to help push tech..that could help us get off oil and long term help with debt.

Pound Foolish without the Penny wise could be a Republican motto.

 

[dogtowner]

This from the people who never paid for a tax break for the wealthy who have a frontrunner whos tax plan raises taxes on the poor and lowers even more on the rich.

Its funny and sad how attacking the Volt is now a passtime for you...its not even a tax break for the Volt...the Volt is one car that can get it...to help push tech..that could help us get off oil and long term help with debt.

Pound Foolish without the Penny wise could be a Republican motto.

sure you can also get a Tesla or Leaf (always could). trouble is they are expensive impractical toys. like iEdsels. like L-A said if you have to bribe people to buy them.... as opposed to 'build a better mousetrap...'.

I did note that lp gas cars are now in the mix (although they call it natural gas and that requires a tether or a very short trip) though they also call it new tech which of courwse is not new at all. have to wonder what the catch is here.