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If there was one billionaire more excited than George Soros at President Obama's re-election, it was Elon Musk.
The South African born Musk has been a triple recipient of Obama's "green" government investment schemes and the president's re-election appears to keep the taxpayer spigots open for the crony capitalist.
Musk is a three-time winner in the Obama taxpayer giveaways to his cronies and campaign contributors.
Musk's Tesla Motors turned a $465 million loan guarantee from the Department of Energy into a $600 million personal windfall in profits when the company went public. Musk used the loan to lobby Congress for more largess, spending $480,000 from 2007 to 2011 on lobbying Congress, the White House, EPA and DOE on climate and energy issues, the Advanced Technology Vehicles Manufacturing loan program, the Promoting Electric Vehicles Act, and the Recovery Act.
After giving thousands of dollars to the President and the political parties, Musk's company Space-X won $440 million in grants from NASA to design the next American spacecraft capable of launching humans into space.
Refusing to quit while he is ahead, Musk has entered the failing solar space. SolarCity, another of Musk's companies living of the taxpayers, has filed for an IPO as Musk tries to replicate his get rich scheme. But recent filings appear to put a bump in the road for SolarCity.
The company, which awarded the company a $275 million loan guarantee, received a subpoena in July from the Office of the Inspector General of the U.S. Department of Treasury to determine whether the company was part of a scam to inaccurately stated the fair-market value of their PV systems when applying for funds under the Treasury's Section 1603 cash-grant program.
In addition to fleecing the taxpayers to pad his wallet, it appears that Musk's Tesla Motors is also coming under scrutiny. Tesla's own SEC reports that the battery could be unsafe and catch on fire.
The green industry is a racket that hurts taxpayers and makes Obama's cronies rich. Unless Congress acts, we will likely endure another four years of bailouts, handouts and giveaways to the president's supporters.
It's time for conservatives to demand separation of business and state and it should start with Elon Musk.
