{"id":67257,"date":"2024-04-11T16:05:03","date_gmt":"2024-04-11T21:05:03","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67257"},"modified":"2024-04-11T16:05:03","modified_gmt":"2024-04-11T21:05:03","slug":"biggest-corporate-welfare-scam-of-all-time","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67257","title":{"rendered":"Biggest Corporate Welfare Scam of All Time"},"content":{"rendered":"

Biggest Corporate Welfare Scam of All Time<\/a><\/h3>\n
\n

President Joe 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

But it isn\u2019t Big Tech companies in Silicon Valley 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 President Biden is in bed with: green-energy firms.<\/p>\n

It turns out that despite all of the promises over the past decade about how renewable energy is the future of power production in the United States, 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\u2014what I call the climate-change-industrial complex\u2014hasn\u2019t been paying its fair share. That\u2019s because the vast majority of these companies pay nearly zero income taxes.<\/p>\n

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 $250 billion in subsidies\u2014payments that we\u2019ve been assured over and over would be temporary. 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 CEOs. Except that these companies have never even reached puberty after all these years.<\/p>\n

What\u2019s 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 that the green-energy subsidies\u2014mostly created by Biden policies such as the so-called Inflation Reduction Act\u2014will drain the Treasury of as much as $1.8 trillion over 10 years.\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Biggest Corporate Welfare Scam of All Time President Joe 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. But it isn\u2019t Big Tech companies in Silicon Valley or the Wall Street financial company \u201cfat cats\u201d or […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,4],"tags":[9336,1624,16170,33927,674,5420,34241,16350],"class_list":["post-67257","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-environment","tag-big-tech","tag-corporate-welfare","tag-government-subsidies","tag-non-renewable-renewable-energy-harvesting-technology","tag-renewable-energy","tag-scam","tag-tax-shelter","tag-the-epoch-times"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67257"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67257\/revisions"}],"predecessor-version":[{"id":67258,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67257\/revisions\/67258"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}