Tuesday, August 08, 2017

The Crony

It's good to be Elon Musk:
A study published two years ago by The Los Angeles Times revealed that just three of Musk’s ventures – SolarCity Corp. (which manufactured and installed solar energy systems before its 2016 merger with Tesla Motors Inc.), Tesla Motors Inc. (which manufactures electric vehicles), and Space Exploration Technologies Corp., known as SpaceX (which builds rocket ships) – had received $4.9 billion in government subsidies to that point in time. By now, Musk’s various ventures have sucked well over $5 billion from government coffers.
So do you want your tax dollars used to subsidize this guy? Or do you want the federal government to subsidize the purchase of an electric car by providing a $7500 rebate? Set aside the relative merits of electric cars, especially since a lot of electricity comes from fossil fuels, especially coal. Does it seem smart to subsidize the enterprises of one guy with that much money?


Bike Bubba said...

It's worth noting that subsidies to Elon Musk's companies alone exceed the supposed annual subsidies to the petroleum industry--which are mostly the strategic petroleum reserve and heating aid for the poor. So when he says (and he has) that he wants an end to subsidies, that's spectacular theater, but hardly reality.

He's a bulls**tter extraordinaire, for sure. No surprise that politicians fall for his act for that reason.

Gino said...

i wanna know how to sign up for a gig like that.