It’s ironic Elon Musk, one of America’s premier subsidy farmers, is also a perfect example of the difference between the private sector approach to cost and the government’s. Musk differs from earlier entrepreneurs like Thomas Edison and Henry Ford who became wealthy by building a better mousetrap. Musk became wealthy by harvesting government subsidies.
The LA Times ran the numbers and Musk’s Tesla Motors, SolarCity Corp and Space X “have benefited from an estimated $4.9 billion in government support.”
The best part about subsidy farming, as opposed to wheat farming, is that Musk isn’t required to make a profit. Tesla and SolarCity have been in business for ten years and neither has made so much as a dime.
Even more galling, much of Musk’s subsidies go to benefit one–percenter Global Warming hobbyists. Tesla buyers receive a $7,500 federal income tax credit for purchasing a new hummer that costs up…