Reply to post: Re: Elon Musk asked for this

Tesla share crash amid Republican bid to kill off electric car tax break

psdrake67

Re: Elon Musk asked for this

Correction: Elon Musk isn't wealthy because of government handouts. He was wealthy long before Tesla and SpaceX. SpaceX saves the government money on each and every launch. They will have saved the government an immense amount of money when all is said and done.

Tesla has received a limited amount of EV subsidies, but more in subsidies for setting up plants in various locations. Subsidies like that are available to anyone setting up a large plant (see Foxconn). The EV subsidies for Tesla haven't gone into corporate profits. They've been directed into more R&D. They don't make a profit but are valued at $50B. If you told any government in the world that if they provided $1.5B in EV subsidies and in return a bunch of investors would have $50B in capital gains then they would say yes. The taxes on the $50B far outweigh the $1.5B, and that's not including business activity, sales and income taxes, and the chance of future business profitability and corporate taxes on income.

A few commenters posted that Musk quit Trump's council because of Charleston. He didn't. He quit earlier because of the Paris Agreement.

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