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Biggest Corporate Welfare Scam of All Time

Posted on Monday, April 8, 2024
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by Outside Contributor
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Woman calculating her taxes, 1040 individual tax form.

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 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 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% of our energy in America from fossil fuels and nuclear power. Wind and solar are stuck at less than 10%. This is some investment we’re making.

Meanwhile, Biden keeps railing against companies that pay no income tax. He’s advocated a mandatory 15% 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.

Stephen Moore is a visiting fellow at the Heritage Foundation and a senior economic advisor to Donald Trump. His latest book is: “Govzilla: How the Relentless Growth of Government Is Devouring Our Economy.

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David Millikan
David Millikan
1 month ago

Corporate Welfare has been nothing but a SCAM since first implemented. It is just another way of stealing money from consumers and taxpayers. Leave it to democrats to come up with a SCAM to STEAL OUR MONEY with constant tax increases every time they get in the WH to create BIGGER government and MORE Socialist Programs with ALWAYS HIGHER INFLATION.
Thanks to Dictator Beijing biden and the Fascist democrats INFLATION and HIGHER TAXES over a Quarter of Americans are having to to SKIP MEALS while Dictator Beijing biden shuts down the country for 2 years and gives OUR FOOD to his Illegal Alien Terrorist Invasion by using OUR TAX DOLLARS to Feed, House, and give them Medical Care at OUR EXPENSE.
But don’t worry, Corporations get tax breaks while American taxpayers TAXES CONSTANTLY INCREASE with HIGHER INFLATION and MORE of OUR FREEDOMS STOLEN from US by an Illegitimate president from Election Fraud.

Mildred Kanning
Mildred Kanning
1 month ago

The whole so-called “green energy’ (climate change) thing is a SCAM. Look at who it was who started it….. a POLITICIAN….. NOT a scientist. When will people wake up?????

Pat
Pat
1 month ago

The most disgusting part of this is that under the guise of “green” these companies are actually causing more damage than we can imagine. The wind towers are killing thousands of birds as are the solar panels. Then the material itself is an environmental disaster in that it cannot be recycled and is piling up in huge ditches. The wind is also killing whales and dolphins by causing their sonar guidance to misdirect them. The EVs are a total mess with batteries that cannot be recycled and child labor being used to mine the lithium. These idiots want us to live in the dark ages with no power at all and go back to walking and pulling carts.

Thinking
Thinking
1 month ago

The green new deal wasn’t for the environment it was to make the dem politicians rich. O was governing that way and it is still going on. Every dem politician is profiting from these trillions of dollars going to the green industry. And we the people have the privilege to pay for it. While millions of people are starving making a decision to put gas in the car or buy food. Such a good plan the deep state on orders of O have. To bring the white race to extinction. Only they forget. HELL NO WE WONT GO.

Glen
Glen
1 month ago

Green Energy ==== FRAUD, CORRUPTION, GRIFT, & HIGHER ENERGY COSTS!!!!
Brought to you by your friendly GOBALIST POLITICIAN and those politicians who go along to GET ALONG!!!

Robin W Boyd
Robin W Boyd
1 month ago

One of the first things, after closing the borders, we need to do is to stop providing tax dollars to environMENTAList organizations that use a portion of that tax money to fund Progressive Democrats.

Mikey
Mikey
1 month ago

Sad state of our government

Elaine
Elaine
1 month ago

It would be interesting to find out how many of our federal agencies and the elected Legislative pay? Are they paying their fair share of taxes. How much does the President and his appointed cabinet and workers pay, do they pay their fair share?
There needs to be an accountable audit of the grants and other taxpayers funds being used by special appointments. If the funds are being misused then they need to be taxed or refund the money they did not use according to their grant.
Just some of my thoughts how we all are responsible and accountable to pay our fair share.

Melinda
Melinda
1 month ago

They don’t pay taxes, and they get subsidies. I’m not surprised, but I am furious! How often have government programs actually worked? The war on poverty, the war on drugs still continue, despite their ineffectiveness. Plus a myriad of other wasteful programs; money poured down the drain just so someone can get elected. Yuck, and double Yuck!

Scott R L
Scott R L
1 month ago

Government *not* of the people, *not* by the people, *not* for the people.
May it perish from the earth. Soon.
It’s a runaway behemoth, devouring everything in its path, even unto future generations. That means you, your kids, your grandkids.

John Bass
John Bass
1 month ago

Green energy equals scam in my book. It’s not nearly as efficient or as cost effective as they claim. Just look at what happened to all the electric car this past winter. Oh that’s right, nothing happened…because they would not start.

Major
Major
1 month ago

Remember when we were told that big oil wasn’t paying their share, even though they were? Now look who it is, for real! How ironic….

tlang
tlang
1 month ago

Goes on to yet again prove, green energies and the entire climate garbage are an industry. Period. And unless held to account, must be watched the same as any other industry. But, the green industry has done nothing but take loans, grants and government money, and have never paid a dime in taxes. That may suggest that they just need to go away. America ain’t buying.

American.
American.
1 month ago

I am sure I will be long gone by the time they figure out the scam. A word of caution, however, when you are looking for that new Tesla or any other EV, think long and hard about all of the “what if this happens” and remember Murphy’s Law. If you think for one single second there is not someone out there looking forward to a huge compromise of the Electrical Grid to disable all mobility, then you have spent too many years living in a cave. So far the biggest problem has been having to choose between using the EV or the AC.
Good Luck with all of the what if’s and enjoy all the problems you are asking for.

Jeff
Jeff
1 month ago

This has been going on for a decade and Congress does absolutely nothing to correct it.
Recall a company called Solydra, a green engergy company that got a half a billion dollar grant to subsidize the company and then donated millions to the Obama campaign before going bankrupt. Obama made out, corporate management at Solyndra made their millions and the taxpayer foot the bill.
Call me when the people finally wake up to the scam!

Fed up with idiots.
Fed up with idiots.
1 month ago

Just more proof that the problem is the CORRUPT LYING BIDEN ADMINISTRATION, as the pockets of the so called demoRAT controllers of the countries money filling their own pockets and wasting taxpayers money on illegal immigrants and playback wars. OPEN YOUR EYES AND BRAIN AND YOU WILL SEE HOW WE ARE BEING FINANCIALLY RAPED WITH NOTHING IN RETURN, EXCEPT MORE RESTRICTIONS AND LOSS OF FREEDOMS.

Dean Howerton
Dean Howerton
1 month ago

LIE AND DECIEVE THE DEMORAT WAY

Susan
Susan
1 month ago

How could people vote for OBiden and any democrat,?

William Hodge
William Hodge
1 month ago

The entire Obiden regime is a scam. My hope is that he breaks a hip next time he falls.

ButchDG
ButchDG
1 month ago

Clean energy and climate change are the biggest made up hoax/scams to come down the pipe. And these tyrannical crooks are forcing it down our throats by law and weaponizing the government. Wake up!

Robert Zuccaro
Robert Zuccaro
1 month ago

I’m sure the Evil Oil makes my gas cost $4.75/gallon just like the Evil Grocery Consortium makes my food cost 40% more. Its not the Evil Democrat Duplicitous lying hypocrites whom are the same ppl claiming to want to overturn Citizens United but rake in corporate donations in the millions.

Robert Zuccaro
Robert Zuccaro
1 month ago

Bet the 10% they pay to the Big Guy is deductible as well…

PapaYEC
PapaYEC
1 month ago

Notho g has bern worse for the environment than the misnomered “green” organizations.

Rabi
Rabi
1 month ago

Pray Trump 2024 to go after the deep state!!!!!

Bill M.
Bill M.
1 month ago

Reminds us of the American Corporate Donors to Barry’s campaign, who organized a new company purporting to manufacture “Green” Solar Panels… But some months after accepting a Huge Grant of HALF A BILLION US TAXPAYER DOLLARS, the company declared bankruptcy, and laid off its employees (except for a few to tally up the warehouses full of unsold Solar Panels.)
The People’s Republic of China was selling solar panels for substantially less than the American group
Nevertheless and by some miracle of pre-planning, the corporate Executives seem to have walked away in FAR Better financial circumstances than when they started, since the US Treasury $$$ had allowed them to fund their severance packages.
Too damn bad about all those unemployed workers who then had to apply for Taxpayer-funded Unemployment compensation.
Oh, yeah, and too bad about all the un-sold panels that cost WAY MORE than COMMUNIST CHINA could sell them for. Wonder what disintegrating Solar Panels do to the soil of the landfills…

paul
paul
1 month ago

gee what a surprise

marty
marty
1 month ago

The O’Biden Crime Family and the Dims are still pushing the “Green Agenda”, even though it doesn’t work!! The GRIFTER in CHIEF is doing what O’Bumbler had the political sense not to do, mostly. Solyndra was a boondogle solar panel company that took HUGE grants to set-up a factory that never produced a good product, went bankrupt leaving un-recycyliable TOXIC WASTE ! Then They started an EV plant that never panned-out, then an Electric Bus Co. that went belly-up, sticking Denver with in-operable busses they can’t get parts for !! If it’s got “GREEN” in it’s name, throw money at it, IS NOT A PLAN ! Almost $ 35 Trillion in the hole is NOT a PLAN, either ! Aren’t we still waiting for O’Bama’s Infrastructure plan ? Mostly put up signs announcing a project ( bridge, road,, replacing lead water pipes insulating houses, etc), those signs rusted away !! VP Cackles is still talking about LEAD WATER PIPES, If they ever replace the water lines, WHERE WILL NEW DEMOCRATS COME FROM ??????

Steven Alton
Steven Alton
1 month ago

A very good article and I wish more people would speak the truth about how Crooked the Democrats and our President really is. And that the Media would speak the truth also about all the Democratic officials really are and they would quit sleeping with them !!!!!!!!!!!!!!

PITTS
PITTS
1 month ago

Have to agree with you not only is it a CASH COW for Joey’s buddies, but no one says anything about the ecological damage it will do in the way of necessary land, or damage to wildlife.

Westhus092
Westhus092
1 month ago

If there’s any way possible for the Communists to steal money from hardworking Americans, they’ll find it.

George
George
1 month ago

Big scams are Green New Deal and Climate Global change crap!!! are ALL SCAMS!!! This fool in the WH is a scammer!!! and how his stupid freaky ass is supposedly winning ANY polls against his rival DemonratZ is absolutely a scam too!!! “bi-DUNG’s raising money for his campaign SHOULD NOT BE A REASON for winning a poll!!! To hell with that reason for being a winner!!! That is NOT the way to become a winner.. I hate that scheme of things in the way they have been!!!

PapaYEC
PapaYEC
1 month ago

Of course.

Denise
Denise
1 month ago

One more nail in America’s coffin…sadly there are already so many nails in her coffin she’s on life support. But for how long? For far too long politicians have had little to no real accountability from American citizens…vote and walk away. Like writing, e-mailing, calling and visiting in person for those in your area. Holding meet and greets with “in their face” questions that they can’t fudge. Flat out holding them accountable for breaking promises, flat out lying about what they’re doing. Once upon a time in an America far away many citizens were involved in the political system…not just voting for the guy or gal who gives the best speech. Our group in SW Colorado in 2010 looked for a governor candidate. We campaigned him, had meet and greets, did background check and ultimately got him on the state ballot for Governor. Who shafted our state? Sadly a so called “conservative republican” who rode in on his thinly disguised donkey and signed up to run himself. Split the ticket and we lost Colorado. Unfortunately the demorats got their “stronghold” and we’ve been under the gun since…literally. Add east coast money with no doubt “thugs” doing what they’re told. Pay offs and a state that’s fighting now for it’s life and once Constitutional Rights.
We’ve been prosperous and had it good in the land of the free and the home of the brave for over 200 plus years, but maybe our collective bravery has slipped a few notches…changing for the worse almost by the day. This nation is not even mentioned in the end times…Patrick Henry: “When a nation forgets it’s God, tyrants soon forge it’s chains.” If you listen really hard you might hear the clanking. The first order of business; disarm the people…note the placement of the 2nd. Amendment; right behind freedom of speech…how’s that one working out? now under attack like never before in our history…”history” not taught any longer in “public schools”. Ben Franklin was once asked: “What is the best form of government?” His answer: “A Republic IF you can keep it.” amen.

HoraceR
HoraceR
1 month ago

The jig is up for Joe and his cronies. The eclipse signals their demise. Watch all the people who do not survive the next darkness.

Sandra
Sandra
1 month ago

Nobody wants to pay taxes to an out of control tyrannical government.

Marty
Marty
1 month ago

It’s not only Green Energy Farms. What about all the money given to Foreigners interest free and tax free to go into business. Who hasn’t noticed all these people buying up Motels and small grocery stores. I’m a truck driver and these people are buying trucks the same way and the taxpayers are paying for it. These people have cut the freight rates so low that most Companies and Owner Operator’s can’t compete. This needs to stop now.

anna hubert
anna hubert
1 month ago

Let us not forget big banks and all Solyndras

Joanne 4 justiice
Joanne 4 justiice
1 month ago

How very INTRIGUING TAX info! Furthermore, I believe that in addition to valuable tax breaks; Many perps who are advocating total clean energy agenda ASAP are only interested in $$$$$ profits. For themselves !!! They truly care NOT about ecology nor the huge financial investment And sacrifice for American citizens to adopt total green energy. IN this CURRENT critical high inflation AMERICAN CRISIS THERE IS NO MONEY TO SUPPORT their LOFTY personal WISH LISTS!!!!!

L Jones
L Jones
1 month ago

Amen!

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