And then we'll tax you higher.
Oh
We're gonna rock down to
Electric Avenue
And then we'll tax you higher.
The latest plan the cash-strapped state's working on: $3 billion in subsidies to persuade people to buy plug-in cars.
The Financial Times recently reported that BCA Research, an independent investment research firm, estimated that, excluding subsidies, the cost of an electric car right now is $16,000 more than an equivalent internal combustion engine car.
They don't know where they'd get the money for those subsidies, but you likely do.
Of course, the reason why electrics cost so much more than petrol-powered vehicles is because those incredibly polluting batteries (mining being the big environmental issue, there) cost way more than a standard combustion engine. And the batteries cost around $15,000 to replace when they start losing their ability to hold a charge.
The Prius batteries use nickel from the mine in Sudbury, Ontario, although they plan to move to Lithium-Ion batteries (you know, the ones not allowed on planes because they have a tendency to explode and catch fire).
Here's the environmentally-friendly source from which Toyota has been deriving the nickel for their batteries:
“Right now a used [all-electric] Nissan Leaf that’s coming off a lease is going for like $7,000 or $8,000. So we could have some more incentives, so more people in moderate-income communities could actually afford that car,” Ting said.
Oh-kay...now, if you lease a Honda Civic Si for three years, it's going to have a residual value of $16,000 to $19,000, if not more (depending on mileage, features, etc.). So why would a Green&Sustainable™ Leaf come off a lease at $8,000?
Would that be because the battery's losing its charge capacity and will therefore need to be replaced at a cost of roughly $15,000? Yeah, that's a "moderate income" expense, as far as Democrat politicians are concerned. For most people living in the real world, not so much. Most of us have to actually spend less than we take in; Democratics do the opposite.
Is subsidizing - with tax dollars - politically-correct electric vehicles a core function of government? How many potholes could they repair with $3 billion?