Anyone remember cap and trade? it failed on the federal level but California, being the home to the stupidest politicians, decided to do it anyway.
Companies like natural gas suppliers, electrical generation plants, cement manufacturers have to pay big time to buy credits in order to stay in business.
Who sells them these credits? Companies like tesla, who get a butload of credits they don't need, for FREE!!!!!
They turn around and sell the credits for millions, and they get more each year, nearly doubling the amount in 10 years.
That is nothing more that the ****ing commie government picking favorites.
Hurting legitimate businesses by stealing money from them and giving it to looser companies like solyndra and tesla.
And ANYONE supporting these companies is just as guilty and should feel just as ashamed!
BTW just for those mentally challenged, there is a big difference between a tax write off and a tax credit.
With a tax write off, a person or organization gets to "write off" a certain amount of income so they don't pay taxes on the ammount written off.
Depending on their tax bracket that means they would benefit from between 1/4 and 1/3 of the total write-off.
But with a tax CREDIT, the thieving gubmint just gives that total amount away. Here, buy this over-priced piece of crap and we'll PAY YOU $7500 to do it.
Quote:
Along with the federal loan, Tesla also relies on support from politicians through a complex series of federal and state subsidies. For each purchase of a new Tesla acquired for personal use, the federal government offers a $7,500 federal tax credit. In addition, various states offer additional income-tax credits, including $6,000 in Colorado and $7,500 in West Virginia.
These subsidies have become so central to Tesla's business model that it advertises them to customers as a way to cover the cost of a down payment. And for states that do not yet offer subsidies for electric cars? Tesla's website provides links to help consumers encourage state and local legislators to subsidize the purchase of such vehicles. The company's site even goes so far as to recommend consulting a tax professional.
Even with the support of federal and state politicians, Tesla would still be reporting losses were it not for its ability to profit off of other auto manufacturers in California. In the first quarter of 2013, Tesla reported its first-ever quarterly profit by using special credits from California's Air Resources Board, which rewards auto manufacturers for the production of "zero-emission" vehicles. So far this year, Tesla was able to turn what would have been a $57 million loss into an $11 million gain by selling $68 million worth of these credits to other auto manufacturers in California.
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Thast is $68 million that the government GAVE directly to tesla. $68 million of our tax money. Money taken out of my wallet and given to a POS looser company. And that number will go up every year from now on.