The ObamaMotors "VOLT" costs Taxpayers $250,000 Each

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The ObamaMotors "VOLT" costs Taxpayers $250,000 Each

Posted By: LetFreedomRing
Date: Sunday, 5-Aug-2012 06:43:41

http://www.michigancapitolconfidential.com/16192 ((snip)) 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. The Volt subsidies flow through multiple companies involved in production. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle. For example, the Department of Energy awarded a $105.9 million grant to the GM Brownstown plant that assembles the batteries. The company was also awarded approximately $106 million for its Hamtramck assembly plant in state credits to retain jobs. The company that supplies the Volt’s batteries, Compact Power, was awarded up to $100 million in refundable battery credits (combination tax breaks and cash subsidies). These are among many of the subsidies and tax credits for the vehicle. ((comment)) GOVERNMENT fails once more while picking "winners" and "losers". Next time you see those elite few who have purchased a "Volt" and are professing that happiness in a Commercial - think about how we ALL paid for that "happiness". The happiness is EXTREMELY LIMITED as sales are rediculously Low. "Save the planet" Barry - but WHAT ABOUT ALL THOSE COAL PLANTS THAT GENERATE THE ELECTRICITY THAT YOU ARE SHUTTING DOWN - MAKING ELECTRICITY "necessarily" forceed to SKYROCKET for ALL of "we the people". Idjiots !