Bummer: PRC’s Tax The Rich For EVs Proposition Fails

But, not because it simply would have driven more rich people who create jobs and businesses out of the state. Nope. Californians were initially enthused to slap another tax on the rich

Californians Don’t Want to Tax Rich People to Help Make EVs Affordable

It looks as if the state of California is going to have to find another route to making EVs more affordable. Residents across the state voted down Proposition 30, which would’ve increased income taxes on anyone making over $2 million so EVs could be more affordable for lower-income residents.

Here’s how it would have worked. Residents making over $2 million would have seen their income tax increase by 1.75 percent. That tax revenue in turn would have gone to EV subsidy programs that would have made EVs more affordable for buyers, namely low-income residents. Estimates said that it would have raised some $100 billion over a 20-year period with $3 billion to $5 billion raised annually.

How has that worked out for other tax the rich schemes, such as the carbon taxes?

Initially, the proposition was popular. Summer polls showed two-thirds of state residents in support of it. But this whole election cycle has shown that you shouldn’t always trust polls. Things shifted when critics came out against the proposition, the biggest of which was Governor Gavin Newsom. In a surprising move, he aligned with state Republicans, the Chamber of Commerce, and the Teacher Association in coming out against prop 30. The reason? Ride-share companies.

Newsom called prop 30 a handout funded by the public for Uber and Lyft. The ride-sharing companies are under a state regulated deadline requiring that 90 percent of their drivers miles be zero emission by the end of the decade. Because of this Lyft dumped $48 million into pushing the proposition. Ultimately though the prop failed. As of November 9, 59 percent of California had voted against it.

So, Lyft wanted this because of Government mandating something, then Government decides they don’t want to do anything that would have (potentially) helped. What’s mostly going to happen by 2030 is that Lyft and Uber will stop operating in the People’s Republik Of California.

Some experts are concerned about what this means for similar initiatives across the country. The main concern is EV affordability for low-income residents. As EV prices continue to increase it looks as if more and more low-income people will be left behind in the EV transition simply because they can’t afford the purchase.

The more subsidies, the higher the costs. Welcome to reality. Low income folks will only be able to afford used, high mile, older EVs, which will come with big problems from use and batteries that do not hold as much charge.

And even with subsidies, as Vox pointed out, “EVs may not be affordable enough for most until manufacturers drop prices much further.” Some may argue that manufacturers should just make EVs cheaper, but that’s hard for them to do as their manufacturing costs rise. Some have already admitted that cheap EVs are a long way off. Others may think that the government shouldn’t be subsiding people’s car purchases. As we get closer to gas vehicle bans, one thing is clear: this whole EV transition is turning out to be a lot harder than many thought it would be.

Easy for Vox to say. There are associated costs. Period. Manufacturers aren’t going to sell them for a loss.

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9 Responses to “Bummer: PRC’s Tax The Rich For EVs Proposition Fails”

  1. H says:

    Cheap EVs ? The new Chevy Bolt starts at about 26500$, about 1/2 the cost of the average new car sold in the USA
    Now that Musk has taken control of social media giant Twitter. He might begin “cramming EVs down the throats” of Americans.
    As far as selling at a loss,of course that also might be done in order to grab market share. In fact, it might be one reason for the low price of the Bolt.

    • L.G.Brandon!, L.G.Brandon! says:

      We realize that to rich democommies on the left coast like you $26,000 is cheap but to poor people or even working class folks looking for a second car it’s not cheap at all. The “social media giant” (a term you never used before Musk bought it) Twitter has always been cramming EV’s down people’s throats since day one just like every other leftist medium.

      You do realize Musk is still a leftist, just a more open minded one than you are. You really shouldn’t ear free speech. It makes you appear trivial.

  2. Jl says:

    Why do they need to make them more affordable? We’re constantly being told, erroneously, that unreliables are cheaper than fossil fuels…

    • L.G.Brandon!, L.G.Brandon! says:

      Making EV’s more affordable is a lie. Why would they need to make them more affordable if they intend to make them mandatory? Democommies are cowardly, cunning and corrupt but not stupid. They know they will make you buy them or walk.

  3. Dan says:

    The ultimate goal of the criminals in power is the total and complete end to privately owned and operated transportation. This includes Uber etc. They want ALL of us 100% dependent on the government for ALL transportation. Once they have that THEY decide if, when and where you will be allowed to go. We won’t pose much of a threat to their grasp on power when we are reduced to walking or bicycles to go anywhere.

  4. […] Pirates Cove is in shock. Marxifornia turn down a tax! […]

  5. H says:

    Ahhh yes still strong support for the fossil fuel oligarchs in Russia and Saudi Arabia.
    Each year EVs get cheaper and have better performance the Tesla with the highest mileage is a German taxi it has over 700000 miles on its current battery.

    • L.G.Brandon!, L.G.Brandon! says:

      We don’t give a rat’s ass about the “fossil fuel oligarchs in Russia and Saudi Arabia”. We care about freedom of choice, energy proliferation not limitation, prices and American energy supply and production. You seem to only care about selling EV’s to people. By force if necessary. The motto of the American democommie party is “by any means necessary”. And you commies meant it!

  6. Jl says:

    Carbon boy-what about the “oligarchs in Russia and Saudi Arabia? The US produces almost the same amount of oil as those 2 combined. So, still waiting for your proof that they control the price of oil, as you assert.
    And I’m disappointed-you’re slipping.. you forgot to mention Trump in your post. Did someone hack your email account….?

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