Would Tesla Motors be one of the hottest companies in the stock market if it were not for generous government subsidies?
Many jurisdictions worldwide have offered both tax incentives for people who buy electric vehicles and for Elon Musk to open up factories in their locations (just ask China).
In Canada, which is facing enormous fiscal pressure, Prime Minister Justin Trudeau and his Liberal Party have helped fund Tesla with tax dollars.
According to a new study by the Canadian Taxpayers Federation, Tesla received more than $60 million in taxpayer subsidies between May 2019 and March 2020.
Overall, taxpayers have subsidized electric vehicles by approximately $134 million in less than a year.
“Tesla created a base model vehicle only for the Canadian market that was listed at one dollar below the threshold to qualify for taxpayer subsidies,” said CTF Federal Director Aaron Wudrick, in a news release. “The result is that taxpayers have paid out $60 million to this company by subsidizing the sales of its luxury cars.”
Musk is a brilliant fellow for taking advantage of the tax code and politicians’ greed for good public relations.
Relief from taxation of a corporation is not a subsidy. To imply it is twisted.
This claim, and your tone of shaming disapproval, require you to clarify: did Tesla receive a check from taxpayers?
Evan worse: it appears the claim of “subsidies” refers to cash/credits issued to buyers of cars. Goverment is making the payment.
Well, guess what? BigGov/Progressivism created inflation, and a new Honda Accord which I purchased in 1980 for $6000 now costs $27,000. Meanwhile, scientists paid by BigGov have convinced the world that the Earth is burning up due to the release of carbon, largely from vehicle exhaust. BigGov, in an effort to reduce, invented subsidies for “less polluting” vehicles, such as Tesla manufactures. a) Tesla does nothing illegal by fitting into the rebate scheme; b) If you consider companies taking advantage, get rid of the entire ziv/rebate gambit.
Stay Calm and Wait for Elon — he will give the world a $25,000 all electric beauty in a few years.