President Barack Obama’s slide into daffy irrelevance continued this week. In yet another speech on what he’s doing to lower gas prices, the President proposed raising the federal subsidy for buying an electric vehicle from $7,500 to $10,000. And instead of a tax credit, the President wants to give electric vehicle buyers the $10,000 up front at time of purchase.
This should get the cost-to-buyer of new Teslas and Fiskers below $100,000. Dozens or even scores of new electric cars will no doubt be zooming out of showrooms if the Congress enacts President Obama’s proposal. And low-to-middle income Americans struggling to fill their tanks with $3.75 gas can take satisfaction knowing that their tax dollars are doing so much good.