EV subsidies for the wealthy? “Taycan” pay for it themselves

EV subsidies for the wealthy? “Taycan” pay for it themselves

Porsche recently announced that “owners of the upcoming Porsche Taycan will get three years of free charging at hundreds of Electrify America public stations,” according to Axios. It sounds like a nice gesture, but is actually emblematic of the flaws in providing electric vehicle subsidies, benefits, and goodies—they disproportionately benefit the rich.

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Another EV Fantasy Hits the Road

Another EV Fantasy Hits the Road

Margaret Thatcher once noted, "The trouble with Socialism is that eventually you run out of other people's money."  It seems EV advocates plan to keep pushing until someone yanks their access to taxpayer dollars. Hopefully that will happen before more Americans are left in the dark in order to light wealthy Americans’ EV utopian dream.

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Field of EV Dreams: “If you subsidize it, they will come … but only if you subsidize it.”

Field of EV Dreams: “If you subsidize it, they will come … but only if you subsidize it.”

But the biggest subsidy Tesla enjoys is a $7,500 federal tax credit for those purchasing new EVs. Combined with various state and local subsidies, new Tesla owners in states like California can get up to $13,000 in lavish government subsidies. The problem is that about 90% of these tax credits are going to families with incomes over $100,000, which is essentially “welfare for the rich,” as one Forbes columnist described it.

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