Submitted by Tyler Durden on 09/20/2012 21:51 -0400
Congressional Budget Office
Federal Tax
Reality
Reuters
Sometimes you just have to laugh - for fear of the hysterical crying fit that would ensue from recognizing our shameful pathological reality. To wit: Reuters is reporting on a CBO study that shows the US electric car policy will cost $7.5bn by 2019. The report finds that the government's policy will have 'little to no impact' on overall gasoline consumption. 25% of the cost of the program is going up in Fisker Karma-inspired smoke as part of the $7,500 per vehicle tax credit and the rest of the cost is in grants to such well-deserved and successful operations as GM's Chevy Volt - which will backfire since the more electric vehicles the automakers sell (thanks to government subsidy) the more 'higher-margin' low-fuel-economy guzzlers it can sell and still meet CAFE standards (re-read that - amazing!) In 2012, 13,497 Chevy Volts and 4.228 Nissan Leafs have been sold (all that pent-up demand) as the CBO notes that despite the $7,500 subsidy, the cost-differential to conventional cars remains too wide - inferring a $12,000 tax credit would be more comparable.
Via Reuters: US electric car policy to cost $7.5 bln by 2019-CBO
U.S. government standards mandate that by 2025, automakers to
http://www.zerohedge.com/news/us-will-spend-between-3-and-7-gallon-gasoline-saved-consumers-driving-electric-vehicles?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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