Posted on 04/10/2024 9:04:17 PM PDT by SeekAndFind
President Joe Biden keeps lecturing corporate America to “pay your fair share” of taxes.
It turns out he’s right that some companies really are getting away scot-free from paying taxes.
But it isn’t Big Tech companies in Silicon Valley or the Wall Street financial company “fat cats” or big banks or Walmart.
They pay billions in taxes.
The culprits here are the very companies that President Biden is in bed with: green energy firms.
It turns out that despite all the promises over the past decade about how renewable energy is the future of power production in America, by far the biggest tax dodgers in the country are the wind and solar power industries.
Over the past several decades, the green energy lobby—what I call the climate-change-industrial complex—isn’t paying its fair share. That’s because the vast majority of these companies pay nearly ZERO income taxes.
But they wade in rivers of federal direct and indirect subsidies that keep these zombie companies alive. Over the past two decades, the renewable energy lobby has collected more than one-quarter trillion dollars in subsidies—payments that we’ve been assured over and over would be temporary. The argument for these grants, loans, tax abatements and other sweetheart kisses is that these were “infant industries” in need of a Head Start program for CEOs.
Except these companies have never even reached puberty after all these years.
What’s worse is that President Biden keeps spoiling the children with lavish gifts for bad performance.
A new report by tax expert Adam Michel at the Cato Institute finds the green energy subsidies—mostly created by Biden policies like the so-called Inflation Reduction Act—will drain the Treasury of as much as $1.8 trillion over 10 years.
The Cato report finds that since its passage, “the estimated cost of the IRA’s new and expanded energy tax credits increased dramatically.”
These tax shelters are just a form of Aid to Dependent Corporations. They never seem to want to cut the umbilical cord.
What have we gotten for this mountain of taxpayer-funded green energy largesse?
Nothing, really.
Today, we still get 80 percent of our energy in America from fossil fuels and nuclear power. Wind and solar are stuck at less than 10 percent. This is some investment we’re making.
Meanwhile, President Biden keeps railing against companies that pay no income tax. He’s advocated a mandatory 15 percent minimum corporate tax. But guess what industry is explicitly exempt from the minimum? The green energy lobby.
It’s just a reminder that a lot of people are getting really, really rich off climate change hysteria.
The “green” in green energy doesn’t stand for a cleaner environment.
It stands for the color of money. Yours and mine.
A radio interview today had someone say the energy utilities give money to the members of legislatures and Congress who perpetuate the members re-appointed to the public utility oversight commissions that let the companies give money to shareholders that came from the public as increased electric bills for “estimates” of future costs such as fighting climate change. Only the public loses.
We want: underground, hardened electric lines and increased capacity from all sources of power.
We get: windmills farms, solar panels and restrictions on coal and oil. Same telephone poles lines breaking down in windstorms, ice, snow and rain with days of power outages.
Stolen elections and puppet dictators come with consequences.
Why government sucks and should butt out of every damn subsidy and private enterprise there is.
That’s right.
green energy firms are a laundering scam like foreign aid, money for nothing and your tricks for free
It is all a scam, every bit of federal government. Billions wasted on Ukraine, climate crap, green crap … you can thank Republicans who fund it all.
Yeah, but the kick-backs are absolutely HUMONGOUS.!!
We need somebody with authority who can stand up & ask Biden the really hard questions about these “green energy” companies and not quit asking them until we start getting some proper answers. I get offers online & in the mail about signing up for some of this crap(usually solar “energy”) that will save me money. The prices they seem to be offering are already more than what I am presently paying. I suppose they are figuring in future inflation...part of which they are responsible for. I’m seeing a need for some possible criminal prosecution here.
“...a mandatory 15% corporate tax.”
I guess inflation just jumped some huge fraction of 15%. The
lack of basic economic education by this and most Americans
is staggering. Maybe that is Trump’s secret super-power.
He understands how economies work.
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