Full Thread: Elon Musk's Space Car
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Old February 16th, 2018 #9
Scaramantula
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but then waste their money on nonsense like this.
It's easy to waste money on crap when someone else is picking up the bill.

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Can we wean Elon Musk off government support already?

Tesla’s new Model 3 has finally arrived, and not a moment too soon. The critics seem to love it, and Tesla management says it’s already received deposits for 500,000 of the vehicles. Perhaps now Elon Musk can finally get his hand out of U.S. taxpayers’ wallets?

Musk is, to be sure, an ideas man. Private, commercial space travel? Check. Washington to New York in less than half an hour in what he calls a “hyperloop” train that will travel at 800 miles per hour? Check. A new kind of tunneling engineering? Check. Solar energy? Check. Electric cars? Check, check.

As wide-ranging as these various entrepreneurial ventures may be, they all have one thing in common – not a single one of them would get funding in a competitive private capital market if it weren’t for massive (and I do mean massive) taxpayer-funded government subsidies.

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.

But granting literally billions of dollars in taxpayer subsidies to Musk’s firms isn’t the worst of it. No, that honorific is reserved for this little gem: In order to induce car buyers to spend their money on electric vehicles, the federal government offers a $7,500 rebate on the purchase price.

Some states enhance that rebate with rebates of their own. In California, for instance, purchasers of electric vehicles get a state-funded rebate of $2,500 more.

http://thehill.com/blogs/pundits-blo...upport-already
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