President Obama Flouts His Harvard Education And Hails Michigan Battery Plant Which Cost $500,000 Of Taxpayer Money For Each Permanent Job Created
I'm in a chipper mood so let's end the week on an uplifting note. That being new jobs. Our chief economic planner, President Obama, went to Michigan this week to hail the opening of a battery plant funded by taxpayer dollars. Why is the U.S. government investing in this battery plant? Because some bureaucrat thought it was a political winner that would garner the President some political capital to use a famous Bushism.
I guess someone didn't inform the President that hybrid vehicles have a substantially more negative impact on the environment than gasoline powered cars. Maybe he should have talked to America's top scientist and inventor of the Internet, Algore, before deciding to fund this factory. Not only do they have a larger carbon footprint but they are more unreliable and given that they have two powertrains (internal combustion plus electric) they are too expensive for most Americans to buy. We may have some type of electric cars in the future and they may or may not be powered by the batteries being produced in this plant or current battery technology in general. (Highly unlikely) But, we won't have hybrid vehicles in ten years. Of that I am quite certain.
But here is the best part about our brand new factory. First off the taxpayer money went to a foreign firm. I'm more than fine with foreign investment but not so fine with taxpayer money funding it. It gets much better. For every permanent job it creates, the government spent $500,000 of your money. Those jobs will probably pay about $50,000 per year on average. So the taxes collected annually by the federal government would be what? I suspect about $5,000. So that means the government's return on invested capital would be about 1oo years. Don't get excited yet. It gets even better. So we could re-employ all of the unemployed and underemployed people in this country if our President would raise our taxes by $17 trillion a year. That's on top of the $3 trillion in spending they already account for. So, all you need to do is work for free, live in a cardboard box, have no money to eat and spend your free time foraging for bugs.
Hey, what can I say? I wanted to spread some cheer going into the weekend and improve the President's approval ratings. It's quite obvious why he is a politician and not the founder of Intel. His business and economic acumen needs a little fine tuning. But then he's simply listening to his economics team. Maybe they are the ones who should be out foraging for bugs. At least they would learn something about economics in the process.
I guess someone didn't inform the President that hybrid vehicles have a substantially more negative impact on the environment than gasoline powered cars. Maybe he should have talked to America's top scientist and inventor of the Internet, Algore, before deciding to fund this factory. Not only do they have a larger carbon footprint but they are more unreliable and given that they have two powertrains (internal combustion plus electric) they are too expensive for most Americans to buy. We may have some type of electric cars in the future and they may or may not be powered by the batteries being produced in this plant or current battery technology in general. (Highly unlikely) But, we won't have hybrid vehicles in ten years. Of that I am quite certain.
But here is the best part about our brand new factory. First off the taxpayer money went to a foreign firm. I'm more than fine with foreign investment but not so fine with taxpayer money funding it. It gets much better. For every permanent job it creates, the government spent $500,000 of your money. Those jobs will probably pay about $50,000 per year on average. So the taxes collected annually by the federal government would be what? I suspect about $5,000. So that means the government's return on invested capital would be about 1oo years. Don't get excited yet. It gets even better. So we could re-employ all of the unemployed and underemployed people in this country if our President would raise our taxes by $17 trillion a year. That's on top of the $3 trillion in spending they already account for. So, all you need to do is work for free, live in a cardboard box, have no money to eat and spend your free time foraging for bugs.
Hey, what can I say? I wanted to spread some cheer going into the weekend and improve the President's approval ratings. It's quite obvious why he is a politician and not the founder of Intel. His business and economic acumen needs a little fine tuning. But then he's simply listening to his economics team. Maybe they are the ones who should be out foraging for bugs. At least they would learn something about economics in the process.
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