Original post made
on Apr 3, 2013
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I'm so glad that, as a taxpayer, I too get the opportunity to help Tesla's customers purchase their product:
"... federal and state tax guarantees that range from $7,500 to $15,000, depending on each state."
plus the $465 million dollar "loan".
Elon - don't worry about the $11 billion or so in your pocket - I've got you covered.
I'm ambivalent on this whole Tesla project, especially as regards government loans & tax guarantees that make the cars artificially less expensive. Frankly, I think I could do a better job investing my own money than the government can, and am feeling the bite of higher CA taxes right about now.
I'm sure, however, that there are many who support the government intervention in this nascent sector, so I'm wondering if anyone has data on what the financial payback (not environmental, mind you) will be on this investment?
Considering the 50% down Tesla wants just to put your car on order makes this Model S unavailable to almost everyone. Then the remainder would have big payments, like $700/month.
If Elon gives some creative financing, the payments would be humongous or very long-term, which is unhealthy indebtedness.
Musk has stated publicly that he wants to build expensive cars for the upper class so that he does not have to produce a lot of cars, which he would have to due if he built more affordable cars.
Makes his true motivations suspect, no?
"Makes his true motivations suspect, no?"
Actually, here's a good explanation for this new style of financing (nutshell: it's a tax thing): Web Link
When we looked into buying a Model S a few months ago, we were treated like lowlife. Guess we do not dress well enough on a weekend. I thought they were going to take blood samples to get our blood types!
A lot of what I have read indicates that he does not support his six children by his first wife, claiming poverty and inability to pay ( he originally had seven kids, one passed away). His wife is hauling him to court, apparently, after getting pictures of him entertaining his starlet-girlfriend very lavishly.
So it makes sense that he would look for another tax break, rather than simply doing the right thing and bringing electric cars to the masses.
Not Really said :"A lot of what I have read indicates that he does not support his six children by his first wife, claiming poverty and inability to pay ( he originally had seven kids, one passed away). His wife is hauling him to court, apparently, after getting pictures of him entertaining his starlet-girlfriend very lavishly.
So it makes sense that he would look for another tax break, rather than simply doing the right thing and bringing electric cars to the masses."
Looking for an entrepreneur to be a beacon for good morals, ethics, and social/civic responsibility?
And I love it when the majority of taxpayers get to contribute for the rich expensive wheels, first by a big loan to Mr. Musk to start his Tesla firm, and now in the form of "tax breaks" to make it "more affordable".
Who says that there is not welfare for the rich in this Country?
> Musk said that he believes the true net out-of-pocket
> cost of owning a mid-range Model S will drop to less
> than $500 a month when considering the savings from
> using electricity instead of gasoline, depreciation
> benefits and other factors.
Wonder how this scenario of $500/month (does this include insurance) will fit into the monthly budgets of those that are at the bottom of the economic spectrum--
New statistics from the US Census Bureau reveal
that one in every six Americans is living below
the poverty line.
Financial involvement with Tesla, or other questionable “green” business interests is a poor use of taxpayer’s funds. Taxpayer bail outs of GM and AIG was obscene—but this is just more icing on the cake.