President Biden keeps lecturing corporate America to \u201cpay your fair share\u201d of taxes. It turns out he\u2019s right that some companies really are getting away scot-free from paying taxes.<\/p>\n
It isn\u2019t Big Tech companies in Silicon Valley, though, or the Wall Street financial company \u201cfat cats\u201d or big banks or Walmart. They pay billions in taxes.<\/p>\n
The culprits here are the very companies that Mr. Biden is in bed with: green energy firms.<\/p>\n
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.\u00a0<\/p>\n
Over the past several decades, the green energy lobby \u2014 what I call the climate-change-industrial complex \u2014 isn\u2019t paying its fair share. That\u2019s because the vast majority of these companies pay nearly ZERO income taxes.<\/p>\n
Yet 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 \u2014 payments that we\u2019ve been assured over and over would be temporary.\u00a0<\/p>\n
The argument for these grants, loans, tax abatements and other sweetheart kisses is that these were \u201cinfant industries\u201d in need of a Head Start program for chief executives. Except these companies have never even reached puberty after all these years.<\/p>\n
What\u2019s worse is that Mr. 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 \u2014 mostly created by Biden policies like the so-called Inflation Reduction Act \u2014 will drain the Treasury of as much as $1.8 trillion over 10 years.<\/p>\n
The Cato report finds that since its passage, \u201cthe estimated cost of the IRA\u2019s new and expanded energy tax credits increased dramatically.\u201d<\/p>\n
These tax shelters are just a form of Aid to Dependent Corporations. They never seem to want to cut the umbilical cord.<\/p>\n
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\u2019re making.<\/p>\n
Meanwhile, Mr. Biden keeps railing against companies that pay no income tax. He\u2019s advocated a mandatory 15 percent minimum corporate tax. Guess what industry is explicitly exempt from the minimum, though? The green energy lobby.<\/p>\n
It\u2019s just a reminder that a lot of people are getting really, really rich off climate change hysteria.<\/p>\n
The \u201cgreen\u201d in green energy doesn\u2019t stand for a cleaner environment. It stands for the color of money. Yours and mine.<\/p>\n
Creators.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Some green energy companies in the US are not paying their fair share of taxes, despite receiving billions in subsidies. President Biden, who advocates for fair taxation, is in bed with these companies. The renewable energy lobby has collected over a quarter trillion dollars in subsidies over the past two decades, with little to show for it in terms of energy production. These companies are exempt from a proposed minimum corporate tax, highlighting the hypocrisy in the industry.<\/p>\n","protected":false},"author":6,"featured_media":7453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[122,611,492,248,3348,5292,693,33,4498,5099,358,203,706,4081,5629,2294,3398,4773,1991,67,2753,4074,2628,3138,1004,4843,3360,558,4620,343,1832,1065,3778,4765,4738,1183,973,380,255,444],"class_list":["post-7452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-aid","tag-banks","tag-biden","tag-big-tech","tag-change","tag-children","tag-climate-change","tag-companies","tag-corporate-tax","tag-corporations","tag-energy","tag-environment","tag-fossil-fuels","tag-future","tag-green-energy-subsidies","tag-income","tag-income-tax","tag-income-taxes","tag-industry","tag-inflation","tag-investment","tag-loans","tag-money","tag-performance","tag-power","tag-president","tag-president-biden","tag-renewable-energy","tag-report","tag-scam","tag-subsidies","tag-tax","tag-tax-credits","tag-tax-dodging","tag-taxation","tag-taxes","tag-treasury","tag-us","tag-wall-street","tag-zero"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n