"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Wednesday, October 19, 2011

Solyndra's "Green" tax breaks in California

The snouts are deep in the taxpayer trough
  • The state of California gave Solyndra $25,000,000 in "Green" tax breaks.
  • California approved 33 other "Green" tax breaks for approved companies totaling $104,000,000
  • All other companies that make products that are not politically correct must pay taxes

Crony-Socialism gone wild.

The crooked money given to Solyndra by Comrade Obama was bad enough, but at taxpayer's expense California has added some green icing to the cake of corruption.  

In the People's Republic of California if you make politically correct Green Products that no one wants then you are exempt from taxes.  But if you dare to manufacture something that consumers actually want to purchase then you are required to pay taxes.

A little-noticed state of California panel created with bi-partisan legislative support worked briskly to authorize $104 million in tax breaks to help "green" companies in California buy equipment and add jobs.

But the program was halted last month after the bankruptcy of Solyndra, the Fremont solar company that received $25 million in state tax breaks and, more notoriously, a $528 million federal loan guarantee despite its precarious financial state, reports the San Jose Mercury News.

The tax money goes in, but no jobs come out.

The Solyndra debacle is being investigated by Congress.

For qualified "Green Energy" companies the state sales tax was waived when purchasing manufacturing equipment in California.  Then-Republican Governor Arnold Schwarzenegger signed the bill in March 2010, when he was in the midst of an ambitious push to move California to the forefront in developing clean-energy jobs.

The bill authorized the California Alternative Energy and Advanced Transportation Financing Authority to approve sales tax exemptions on the design and manufacture of alternative energy products.

The state approved 33 applications worth $104 million in estimated sales tax exemptions. As of September, 11 of those companies have claimed $31.4 million in exemptions. 

Most of the approved exemptions were for manufacturing equipment purchased by alternative energy companies to build solar panels, to capture gas from the breakdown of organic materials and to develop lithium batteries.

In addition to Solyndra 10 other companies have claimed tax breaks.

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