Let’s see if we have this straight: Uncle Sam pays the automakers billions of dollars to produce EVs. Then they write a check for $7,500 to consumers who buy an EV and many states kick in up to another $5,000. Now, the government is paying to charge the batteries for the rich people who buy EVs.
On the pages of the NY Post and on the air of Fox Business, CTUP economist EJ Antoni had this alert:
Including the charging equipment, subsidies from governments and utilities and other frequently excluded expenses, the true cost of charging an EV is equivalent to $17.33-per-gallon gasoline — but the EV owner pays less than 7% of that.
Over 10 years, almost $12,000 of costs per EV are transferred to utility ratepayers and taxpayers, effectively socializing the price of recharging an EV while keeping the benefits private.
This is socialism for the rich: a transfer of costs from higher net-worth individuals to middle- and lower-income taxpayers.