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Should Taxpayers Back Cars Only the Rich Can Afford?
theodp writes "The NY Times questions the $400M in low-interest federal loans requested by Tesla Motors as part of the $25B loan package for the auto industry passed by Congress last year. 'The program is intended to encourage automakers to improve fuel efficiency, but should it be used for a purpose like this, as the 2008 Bailout of Very, Very High-Net-Worth Individuals Who Invested in Tesla Motors Act?' Tesla says it is assembling about 15 cars a week and has delivered about 80 of its $109,000 base-price Roadsters to date, many of which have gone to the Valley's billionaires and centimillionaires who are Tesla investors as well as early customers. We discussed the company's financial difficulties last month."
I don't know how it works in the USA, but here in Canada we don't measure electricity in gallons.
many of which have gone to the Valley's billionaires and centimillionaires
Usually, a centimillionaire only has enough cash to buy a used car. Making this high-end car available to these people sounds like a huge benefit to me.
It's the energy you can get from as many 9v batteries as you can fit in a gallon milk jug. It's about 4% smaller than the imperial electrogallon, which uses a gallon-sized pail. You may remember the story a few years back when an MIT mathematician proved that an ideal battery configuration would hold two additional batteries, without stretching the jug, and we all had to recalculate our electricity bills.
But we stick with it, because we true Americans (as opposed to people in New York, California, and -- in a shocking turn of events -- Indiana) know that the metric system is the first step down the path to socialism.
You want the truthiness? You can't handle the truthiness!
A centimillion only buys one decitesla. I suspect the editors were referring to hectomillionaries, though with the recent gyrations in the market some of them may have dropped an exponent or two.
You can't tell "than" from "then" and still are able to afford a Tesla Roadster?
There's hope for me yet..
Good point though.
Truth arises more readily from error than from confusion. -Francis Bacon
America's rate of corporate tax is among the highest in the world.
I wouldn't say that's entirely correct.
On the Oregon Cost born and raised, On the beach is where I spent most of my days
Big three, would that be GM, Ford, Chrysler and Toyota?
Apocalypse Cancelled, Sorry, No Ticket Refunds
he were often absolutely right. In either case he were no monster...Oh please, throw some stupid quote about the dictatorship of the proletariat on me, it will be so embarassing.
That were be embarrassing.
Calling the financial sector unregulated is like calling purple a squirrel.
I think government regulation is, in many cases, going to be better than the alternative, but that particular example is just horrible.
Nerd rage is the funniest rage.
Yeah...Walmart has it all WRONG.
LOL. You're so precious. Don't ever change.
Counterpoint: Yes, we should be bailing them out.
This has been "completely unjustified point-counterpoint" theater. Tune in next week when we look at whether or not global warming is real. A preview
Point: Yes, it is.
Counterpoint: No, it's not.
Don't label it as fascism just because "Hitler said it."
You may lament the inability to share his true insights simply because they were his....
I lament the fact that I can never even consider wearing the mustache.
Boot Windows, Linux, and ESX over the network for free.