Saturday, October 03, 2015

Environmentalism: an excuse to use tax payers to make the rich richer?

From Reason:

Do poor people drive Tesla roadsters? Not exactly. The average household income of Tesla owners is just shy of $300,000 per year. Low end models begin at $70,000 but rise to over $105,000. Fortunately, the Feds take a bit of the sting out of the price by handing over a $7,500 tax credit to purchasers of electric cars. A new study, "The Distributional Effects of U.S. Clean Energy Tax Credits," by two energy economists at the University of California, Berkeley finds that the rich are the chief beneficiaries of billions in federal tax credits aimed at encouraging people to buy and install energy efficient and low-carbon technologies.

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