Many folks remember the Sputnik on wheels, otherwise known as the (East German) Trabant. Depending upon whose factoids you believe, the Trabant, the world’s worst centrally planned vehicle, is said to (1) have taken as long as 18 years to receive one on order, (2) the price was an equivalent of a year’s salary (3) there was no fuel gauge and the rear windows were glued shut (4) it took 21 days seconds to get from 0 to 62 mph, and (5) it was a pollution monster, with “nine times the amount of hydrocarbons and five times the carbon monoxide emissions of the average European car of 2007.” And then there’s the Chevy Volt.
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.
This article about the cost of each Chevy Volt may seem like a stretch, but the article is based on a study done by the Mackinaw Center for Public Policy, an organization that does not do shoddy work. James Hohman did the study, and he is the Assistant Director of Fiscal Policy at the center. Here is a link to an interview that Hohman did with Lou Dobbs. Hohman remarks that he has not seen anything that has received this level of state support since the days of the Communist bloc.
Rather than repeat previous comments on the atrocity that is the Chevy Trabant, see my blog from October 2010: “Chevy Volt: The Government’s Car” where I wrote about the assorted subsidies, buyer’s tax credits, and the global warming (oops, climate change) scam that is behind the government-corporate state, centrally-planning mechanism that creates jobs in strategic sectors with strategic corporate partners to produce subsidized products that no one wants to buy on the market so the green industry can be well-funded via redistribution schemes, and people can be propagandized into “going green” to prop up these highly-profitable and fascist state-corporate partnerships.8:05 pm on December 21, 2011 Email Karen De Coster