WASHINGTON -- President Obama's proposed budget calls for boosting electric-car subsidies to $10,000, up from the present $7,500, even though plug-ins are typically bought by the wealthy.
That's significant because the election-year budget attempts to narrow deficits by increasing taxes on the wealthy.
If 10,000 electrics like the Chevrolet Volt extended-range sedan, a plug-in that qualifies for the subsidy, were sold a year, the program would cost taxpayers another $100 million a year,the Daily Caller points out, via Yahoo News.
Interestingly, the Daily Caller points to General Motors' statements that the cars are bought by individuals with an average family income of $170,000 a year, which would make them among the nation's top earners.
Many Republicans, including radio commentator Rush Limbaugh, have been blasting electric car subsidies, especially as they relate to the Volt.
USA Today