Obama, Hypocrite in Chief, says in one breath, fill in the tax loop holes that target a specific company or industry. In his next breath, he proposes a tax break for his pet project, the fraudulent green energy industry.
From the Washington Times: One week after he called on lawmakers to close tax-code loopholes that benefit specific industries, President Obama proposed one of his own - a tax break aimed at spurring the development of energy-efficient commercial buildings.
In doing so, Mr. Obama underscored the herculean challenge of simplifying the tax system in Washington, where loopholes are in the eye of the beholder.
Even as the president touts preferences for renewable energy, he has called for eliminating tax breaks for oil companies. During a visit to Pennsylvania State University last week, Mr. Obama justified his Better Buildings initiative by saying “it’s time to stop subsidizing yesterday’s energy; it’s time to invest in tomorrow’s.”
Some tax-policy analysts cited the president’s latest proposal as symptomatic of the difficulties involved in tackling the federal tax code.
“All Obama is doing is swapping one set of loopholes for another,” said Dan Mitchell, a senior fellow at the Cato Institute. “This is why our tax code is a 70,000-page monstrosity. Politicians just can’t resist doing this kind of stuff.”
In doing so, Mr. Obama underscored the herculean challenge of simplifying the tax system in Washington, where loopholes are in the eye of the beholder.
Even as the president touts preferences for renewable energy, he has called for eliminating tax breaks for oil companies. During a visit to Pennsylvania State University last week, Mr. Obama justified his Better Buildings initiative by saying “it’s time to stop subsidizing yesterday’s energy; it’s time to invest in tomorrow’s.”
Some tax-policy analysts cited the president’s latest proposal as symptomatic of the difficulties involved in tackling the federal tax code.
“All Obama is doing is swapping one set of loopholes for another,” said Dan Mitchell, a senior fellow at the Cato Institute. “This is why our tax code is a 70,000-page monstrosity. Politicians just can’t resist doing this kind of stuff.”
Green energy has been fraught with fraud and false promises, from Wisconsin Rapids WI. to Boulder City, NV and other cities in between. Green energy is about as fraudulent as Al Gore and climate change/global warming is. Green energy companies know that they can announce that they will build a plant, cities, mainly liberal cities, will rush to embrace them. While the cities are humping the companies in the back end, the companies are stealing tax breaks, grants and other government money in the front.
So, Obama is just adding to the green energy fraud by targeting tax breaks for green energy companies. And who will benefit from the green energy tax breaks. Why, people like Al Gore who has made hundreds of billions off of green energy by has the carbon foot print of a herd of Woolly Mammoths.
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