Obama Raises Volt Subsidies for the 1% by 33%

After providing about $250,000 per vehicle to subsidize the GM Volt, Barack Obama has decided that it was not enough for the buyers, who average $174,000 annual income!
Government Motors Volt Costs Taxpayers $250,000 per Vehicle

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.

Obama hikes subsidy to wealthy electric car buyers

Given what was spent, and what resulted from sales subsidized by taxpayers, this is either a desperation bid to salvage a faulty product or another enormous payoff to Obama cronies.

Why do taxpayers with incomes of $174,000 deserve ANY subsidy at all?

deny ognorance

jw

That is Obamanomics eh? We ARE GOING to have electric cars. We ARE GOING to reduce oil consumption and we ARE GOING to like it or stay quiet. So says one, so says the King...and so it will be done.

Remember when we had a free nation and Government didn't directly subsidize individual car models? Wow... Those were the days... Back when black and white TV was a new invention and.... WAIT a minute. This crap just started under Bush. How about we END it BEFORE it becomes ingrained as precedent and impossible to STOP later!?

Obama and his people suck at economics....They suck at running a car company.... and his Presidential library can stand as a monument to how NOT to handle the U.S. Presidency while in office.

Until then...for the love of our nation..STOP THE SPENDING!!! My KIDS don't deserve it. They did nothing to deserve the crushing future of grinding poverty this madness is leading our whole nation into!

And to think that many people felt for the mantra that Obama was a socialist, while many here including me were screaming that is was nothing but a hoax.

He is corporate whore, but hey, so is all the politicians that are elected in the US and supply by the corporate power running the country.

This so disgusts me. Yeah he's trying to make a few of his promises come true, but only for his rich crony friends. We sacked the electric car after we had a sound WORKING model, and now we try all over again on the taxpayer's dime?

And I agree his cabinet is all Wallstreet banksters yet they do nothing to save our economy or reduce debt. Makes you understand what it means to be part of the Wallstreet machine.

Sharks are born swimming!

Originally posted by Wrabbit2000
That is Obamanomics eh?

Let's try rightwingcrazy stupid economics...

From the article...

The average income of the Chevy Volt’s buyers is $170,000 per year, according to General Motors CEO Dan Akerson. “Some of them — I think roughly half — are either [Toyota] Prius or BMW owners,” Akerson said in a Dec. 16 interview with the Associated Press.

The average income of BMW buyers is nearly $170,000, according to a May 2010 article in Bloomberg Business Week.

Read more: dailycaller.com...

So Volt owners earn 170k or more?...derived from..

Roughly half of volt owners owned EITHER a Toyota Prius or a BMW

And census data shows that BMW owners is NEARLY 170K???

What is the census data for Prius owners?

How many of that HALF of volt owners Owned a Prius...How many a BMW?

And by what insanely stupid math...beyond pure BS spin...does anyone conclude that "average Volt owners" make 170K or more? When all we know is that some portion, less than 25% more than 0% owned a BMW...

The article disproves itself.

It's easy to know who is in the right in this debate when one side can't make an argument without spouting complete BS.

Here is a logic puzzle...

Roughly HALF of Volt buyers owned EITHER a BMW OR PRIUS (MSRP 24k).

BMW owners make NEARLY 170k.

Is it true to conclude that the Average Volt owner makes 170k???

The Volt is a Jolt.

It should be outlawed.

The National Highway Traffic Safety Administration tested three Chevy Volt batteries last week and one of them caught fire. The other two may have overheated. They were investigating the possibility of battery problems due to an incident in May when a Volt battery caught fire three weeks after undergoing a crash safety test. Last week’s NHTSA test attempted to replicate the same conditions of the crash test that caused a Volt’s May battery fire.

In their official statement NHTSA wrote, “This past May, NHTSA crashed a Chevy Volt in an NCAP test designed to measure the vehicle’s ability to protect occupants from injury in a side collision. During that test, the vehicle’s battery was damaged and the coolant line was ruptured. When a fire involving the test vehicle occurred more than three weeks after it was crashed, the agency concluded that the damage to the vehicle’s lithium-ion battery during the crash test led to the fire.” (Source: NHTSA)

They also said it is too soon to know if there should be a recall of any vehicles or parts. General Motors has been offering free cars on loan to concerned Chevy Volt owners. They say they will contact all Volt owners and extend the free loaner offer to them.

It's a moving coffin


Insurance rates are higher and the things can kill you.

Are they providing fire extinguishers with that monstrosity ?

Maybe they should have had some Solyndra engineers take a look

No Wait ..... that would be an indication that GM is going bankrupt (again !!).

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

I Think Obama and Co. should stay out of the energy business !!

reply to post by Indigo5


Do you know the real figures ?

Any help is welcome.

I would love to know for sure.

Ya know what Bob Lutz, Far Right Conservative and Automotive guru has to say about these mocked up numbers and BS stories the right wing media is spinning out?

What on Earth is wrong with the Conservative media movement that it feels it’s OK to spread false information,

OK to damage the reputation of perhaps the finest piece of mechanical technology our country has produced since the space shuttle,
OK to hurt an iconic American company that is roaring back to global preeminence,

OK to hurt American employment in Hamtramck, Mich., as long as it damages the Obama administration’s reputation?

While Lutz says that he shares the Republican's goal of damaging the Obama administration's reputation, he doesn't back destroying "credibility through the expedient spreading of untruths." In fact, Maximum Bob—who infamously described Global Warming as a "crock of #"—says now that he's embarrassed to describe himself as a Conservative.

www.plugincars.com...

Well at least that is one conservative willing to tell the truth...

reply to post by Indigo5

Lutz seems most irked by how attacks aimed at President Obama ultimately undermine American innovation and ingenuity—and domestic production of electric cars as a means for improving the economy and putting Americans back to work.

but when they sell less regular cars, the jobs stay the same

OK to damage the reputation of perhaps the finest piece of mechanical technology our country has produced since the space shuttle

A bit of a long reach there I think


I didn't see anything about those salary verifications in the article.

The Volt is a Jolt !!!!

reply to post by Indigo5

Hmmm... I thought your reply was about one thing, then another...and now I'm kinda confused. First though....This nightmare takes a Democrat, not a Republican. Republicans are greedy scum that live for the dollar and good sense in profits. Imagine the Ferengi.



So the MSRP for the Chevy Volt is $41,000, but actually costs so much more, it might as well be a number someone pulled out of thin air just for laughs. A Republican would CHARGE what it's worth, plus a fair % for that all important profit...or they'd at least sucker some fools into buying on payments to really stick it to them before repossessing it to sell to another sucker and making more than it cost THAT way. This is what everyone is mad about...this profit at any cost mentality. Myself included.

A Democrat, by contrast, looks at this same ungodly experiement in stupidity, sees it costs 6 figures to MAKE..but thinks, what they heck? That is what we have taxpayers for. Hence..it's suddenly SOLD for a fraction of it's true value while the rest of us pay for cars we won't even be allowed to sit in, let alone drive.


Now.. You also seem to be questioning how anyone could know the worth of the buyers. You refer to census data. Umm... Census data isn't even looked at for a report like this. The Chevy Volt isn't a Volkswagon Beetle, either. You don't stroll in, pass a credit check and then drive off the lot with one. You have REAMS of paperwork that need completed by the dealer OR you and by the time it's done, they'll literally know more about you than YOU do. It was the same with the Prius in the early days as well as a couple other early prototype kind of models. So.....They *DO* know how much their customers make....EXACTLY how much.

reply to post by Indigo5

Is it true to conclude that the Average Volt owner makes 170k???

Instead of being blinded by devotion to Barack Obama or unable to see the the real market because of your grasp of the government teat, perhaps you might consider what Barack's Gov't Motors themselves say about their target matrket:

GM officials insist most Volts are sold to ordinary buyers, not to municipal or state governments.

The startling $170,000-per-year earnings number for Volt owners was revealed by General Motors CEO Dan Akerson in a Dec. 16 interview with the Associated Press.

Chevy Volt subsidy amps up wealthy

Care to show us how someone in the lower 99% can afford a $40,000 vehicle on top of rent(up 12 %), food(up 15%), gasoline (up 20$) and other daily costs of living (up 15%)?


Your sell-out is pathetic.

jw

I buy GM anytime the taxpayers co-sign for me.

Changed mind about responding. Debating facts seems silly on this thread. Have at it...

Would I drive a volt? Yes, they are really neat.
Would I buy one? No, because I could get a mercedes or BMW for the price.

I always thought this car was a cool idea, faster than a porsche and safe too! www.commutercars.com...



Just not enough interest to make them available without a huge wait. All the rest of my driving needs (long distance) could be done with a diesel with an aircar retrofit en.wikipedia.org...

reply to post by Aliquandro


Except the Tango is a kit, delivered w/o batteries or drivetrain.

Won't get far like that.