This type of cronyism is bad enough on principle alone. But it gets worse in the case of EV tax credits.
For one thing, the cost is borne disproportionately by lower- and fixed-income families who can’t afford electric vehicles. Who’s taking advantage of the subsidies? Primarily America’s wealthiest households. They don’t need a tax break to afford an EV, but hey, if it’s there, they’ll take it.
So, in an ironic twist, we have the government taking money from a wide swath of Americans, including those on the low end of the income scale, to put those who are more well off into “green” vehicles.
The Pacific Research Institute found that in 2014, 79 percent of electric vehicle tax credits went to households making over $100,000, while 99 percent of them went to households making at least $50,000.
Auto manufacturers, like any other company, should base their decisions about what to make solely on what customers want — not on what government wants them to want.
If people want EVs, fine. But it should be their free choice, not something they purchase because they get some “free” money.
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