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With All The Volts Counted, Taxpayers Lose Again
Investor's Business Daily ^ | February 15, 2012 | Staff

Posted on 02/15/2012 1:24:23 PM PST by raptor22

Incentives: Doubling down on industrial policy failure, the administration decides to bump up the taxpayer subsidy for Government Motors' touted electric car. Who said its range wasn't enough to drive us to the poor house?

Tucked away in the recesses of President Obama's 2013 budget, a budget that Senate Majority Leader Harry Reid says he will not bring to the Senate floor, is a nugget that speaks volumes about the troubles we're in:

While delaying the Keystone XL pipeline, the administration plans to increase the subsidy for the Chevy Volt and other "new technology" vehicles to $10,000 per car.

"We give consumers the incentive to buy these cars," White House economic chief Gene Sperling said at a budget briefing where he announced the 33% increase from the current $7,500 subsidy. The budget document, titled "Investing in Our Future," includes a goal of putting "1 million advanced technology vehicles on the road (by) 2015."

So, doing the math, we're talking about a $10 billion dollar "incentive" to get people to buy the Chevy Volt and similar vehicles. Can people be bribed to buy Government Motors' electric car? Even with the $7,500 rebate for each buyer, Chevy sold only 7,671 Volts in 2011.

We wonder if people making $170,000, the average income of the relatively few buyers of the $40,000 Volt to date, really need the incentive. It is not your typical family or factory worker's car. So doesn't that make this the functional equivalent of tax credits for the rich?

As the Daily Caller notes, only Mercedes-Benz drivers, at an average $174,000 a year, earn more than Volt drivers. Their high income puts Volt buyers in the top 7% of households, according to census data, and slightly above the rankings held by households with BMWs, Lexuses or Cadillacs.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Editorial; Front Page News; Government
KEYWORDS: automakers; bho44; chevyvolt; electriccars; ener1; enr1; fisker; fiskerkarma; fundingtheleft; generalmotors; ibd; nobama2012; obama; obamatruthfile; stimulus; volt
Extension cord optional.
1 posted on 02/15/2012 1:24:28 PM PST by raptor22
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To: Nachum; markomalley; Clairity; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

Volt ping


2 posted on 02/15/2012 1:27:05 PM PST by raptor22 (Join me on Twitter @gerfingerpoken)
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To: raptor22

I have read that dealers are telling GM to not ship any more Volts because people just don’t want any and they can’t take the inventory hit..............


3 posted on 02/15/2012 1:27:44 PM PST by Red Badger (If you are unemployed long enough, you are no longer unemployed.)
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To: raptor22

We will always loose.

Voting is 100% wasted effort.


4 posted on 02/15/2012 1:28:57 PM PST by NoLibZone (Buffet proves calls for more taxes is to buy votes,not reduce deficits.He pays less than Bush rates.)
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To: raptor22

Even with the $10,000 dollar subsidy the thing is still $10,000 dollars over priced.

Hell: Why not just give them away to anybody with a car that gets less than 20 MPG and then take the old cars and destroy the motors.

HMMMM where did I get that destroy the motors stuff.


5 posted on 02/15/2012 1:29:22 PM PST by Venturer
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To: raptor22

Hey, Obamabutt, sell me one of those Volt turkeys for around $1k, and I’ll gladly buy it.

That way, I can have sufficient funs to repair it after GM goes under again and they pull the warrenty rug out - also again - from those suckers who stupid enough to purchase their MBA designed slugs. (Corvette excepted, of course.)

(Speaking as a consumer who made the same d*mned mistake with GM too many times.)


6 posted on 02/15/2012 1:36:02 PM PST by Da Coyote
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We're also going to try to replace some of our older servers and failing equipment this year so we're going to add a little extra to our FReepathon goals. John is estimating ten to fifteen thousand to do this and I'd like to get it all in place and working before the election cycle is fully heated up, so we'll try to bring in a little more now if we can and the rest next quarter.
Jim Robinson


Click The Server To Donate

Support Activist Free Republic

7 posted on 02/15/2012 1:37:06 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: raptor22; All

A big killer to the Volt is that, if you lease it, you CANNOT take the tax credit. The Leasing Company gets it.

Even at the GMAC/ALLY promo rate of 2.9% for 60 months, that’s a $750 car payment, to get the credit. Not a lot of regular folks are going to be able to afford $750 car payments.

If they could, they’d be buying a Benz that gets almost the same mileage.


8 posted on 02/15/2012 1:41:55 PM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: raptor22
So, doing the math, we're talking about a $10 billion dollar "incentive" to get people to buy the Chevy Volt and similar vehicles.

Well judging by the absolutely dismal sales for these worthless vehicles, hopefully the majority of those funds won't be squandered before it can be ended.

9 posted on 02/15/2012 1:47:01 PM PST by Lazlo in PA (Now living in a newly minted Red State.)
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To: Red Badger

In a related story the City of Manassas, Virginia has purchased a Chevy Volt for a Utilities Department meter technician. The Chevy Volt requires a nightly charge and fill-up of the 10-gallon gas tank once a month – if that. The City vehicle maintenance technician has completed installing emergency lighting and radio equipment. (I wonder how that will affect mileage.)
The Volt will run up to 40 miles on a charge and then switches to gasoline. The City is scheduled to install five charging stations throughout the city – part of a federal grant award from ChargePoint America, a US Department of Energy program through the American Recovery and Reinvestment Act.
No word on cost or break-even point. I suggest you contact the City of Manassas if you want more information.


10 posted on 02/15/2012 1:50:01 PM PST by satan (Plumbing new depths of worthlessness on a daily basis.)
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To: raptor22

11 posted on 02/15/2012 1:55:15 PM PST by freedumb2003 (Spoiler Alert! The secret to Terra Nova: THEY ARE ALL DEAD!!!)
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To: raptor22

If I wanted a golf cart, I could get one a whole lot cheaper than the Volt, and I could get it from an honest company, not from a corrupt organization that stole the assets of their bondholders and then raided the United States Treasury. There is no way I will ever purchase a GM product again, and even if I was willing to deal with that sleazy company, I would not want a Volt. I make fun of Volt owners, but I would never want a vehicle that is that useless.

12 posted on 02/15/2012 1:56:14 PM PST by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: raptor22
With all the limitations on this lemon, they are no where near where they need to be to reach their mass audience of Obama droids. They need to give it to you for free and pay you a monthly fee for the inconvenience of driving one. That’er git er done.
13 posted on 02/15/2012 2:07:38 PM PST by Truth29
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To: satan

Volts and others like it are good for that kind of service...........


14 posted on 02/15/2012 2:10:17 PM PST by Red Badger (If you are unemployed long enough, you are no longer unemployed.)
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To: raptor22
We wonder if people making $170,000, the average income of the relatively few buyers of the $40,000 Volt to date, really need the incentive. It is not your typical family or factory worker's car. So doesn't that make this the functional equivalent of tax credits for the rich?

No, reward for obedience. Absolutely necessary for patronage based governance. Punish the dissidents, reward the faithful. No matter what cost.

15 posted on 02/15/2012 2:13:35 PM PST by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
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To: satan
"The Volt will run up to 40 miles on a charge"

This reporter got 25 miles per charge:

Eric Bolling test drives Chevy Volt

The "40 miles" is another lie courtesy of the treasonous bastard occupying the White House.
16 posted on 02/15/2012 2:21:25 PM PST by Ragnar54 (Obama replaced Osama as America's worst enemy)
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To: raptor22

17 posted on 02/15/2012 2:59:28 PM PST by SnuffaBolshevik (In a tornado, even turkeys can fly.)
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To: Pollster1

Stupid East German Communists sold the crummy Trabant cheap.

Wise American Communists sell the crummy Volt dear.

18 posted on 02/15/2012 3:40:32 PM PST by Jacquerie (No court will save us from ourselves.)
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To: Da Coyote

My Buick has been fantastic. No complaints about it at all.


19 posted on 02/15/2012 4:32:37 PM PST by arrogantsob (Obama must Go.)
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To: raptor22

Its a failure so lets up that subsidy

FAIL


20 posted on 02/15/2012 5:26:12 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: raptor22

The perverse thing is, that this will cause GM to increase the price on the car because they don’t make money on them.

So the consumer isn’t going to get them cheaper, they won’t sell more, and GM will pocket all the money.

Real Smart!


21 posted on 02/15/2012 6:45:18 PM PST by dila813
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To: raptor22
"We give consumers the incentive to buy these cars," White House economic chief Gene Sperling said at a budget briefing where he announced the 33% increase from the current $7,500 subsidy..."

This means, essentially, that you and I pay money NOT to own one of these gems.

(And, it's more than worth it, n'est ce pas?)

.

22 posted on 02/15/2012 11:35:04 PM PST by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Ragnar54

You posted: “The Volt will run up to 40 miles on a charge”

This reporter got 25 miles per charge.
******

I guess 25 mpg is part of UP TO 40 mpg, as would be 10 mpg.


23 posted on 02/16/2012 4:17:28 AM PST by NCLaw441
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To: raptor22

But just today, I read that GM has reported is biggest profit every - some $7.6 billion...

Of course - how much of that is taxpayer subsidies of the Volt (and who knows what else)...?

http://www.forbes.com/sites/michellekrebs/2012/02/16/little-celebration-for-record-gm-profit/


24 posted on 02/17/2012 6:32:40 AM PST by TheBattman (Isn't the lesser evil... still evil?)
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To: raptor22

Increasing the subsidy for the Volt to $10K??? That is the direct-to-consumer subsidy. That isn’t including the subsidy for the manufacture of the car in the first place- aren’t those figures somewhere around $250,000 per car?


25 posted on 02/17/2012 6:59:03 AM PST by TheBattman (Isn't the lesser evil... still evil?)
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