July 5, 2017

Wednesday Off-Topic (Moderated) Open Thread (070517)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

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6 Comments

  1. Tax scam revealed, when your profits are NOT from the product or service you are supposedly supplying:

    Oklahoma’s Former Governor: Subsidised Wind Power a Multi-Billion Dollar Mistake

    https://stopthesethings.com/2017/06/27/oklahomas-former-governor-subsidised-wind-power-a-multi-billion-dollar-mistake/

    Signing this legislation was simply a mistake. What was promised to cost the state less than $2 million annually when I was in office has soared to $113 million for the 2014 tax year and is expected to cost billions in the future. Wind farms average 10 to 13 permanent jobs, which hardly lives up to the promised employment growth.

    Because the tax credits weren’t limited or capped, the Zero Emissions Tax Credit has warped into a scam costing taxpayers millions to the detriment of other publicly funded services. In 2014, the credits became directly refundable, meaning the state writes wind companies checks for 85 percent of the value of each credit. That’s essentially a blank check funded by taxpayers that goes to multibillion-dollar corporations based outside of Oklahoma and mostly located in foreign countries. It’s the worst kind of corporate handout.

    I’m shocked and dismayed that taxpayer money has been spent so recklessly and at the cost of funding Oklahoma’s education system, which we know continues to be at risk. Because of power purchase agreements with other states, people outside of Oklahoma enjoy the majority of this discounted power, thanks to the subsidies we fund. Yes, this really happens!

    If you’re not upset yet, just wait because it gets worse. The wind industry will tell you there are already controls in place because the current law sunsets these credits in 2021. However, Oklahoma pays these billion-dollar wind companies for the electricity produced by each turbine for 10 years. Turbines put in operation this year will receive tax credits until 2027. Under current law, payments will continue until Jan. 1, 2031, for turbines placed in operation before Jan. 1, 2021.

    The wind industry is also not telling you about plans to accelerate the pace of construction so it can benefit from these subsidies on more than four times as many turbines as the number that generated the $113 million claimed in 2014. This considerable growth could cost us up to $5.2 billion by the time the last bill is paid.

    The whole point of this exercise is to scam the tax payer for an ultra high profit margin. Wind energy cannot stand on it’s own financially, EVER. It is the model of unsustainability. But what do the unscrupulous care of energy poverty or our children’s children laboring under the public debt created for them by those who live in the lap of luxury today? This greed, pure and simple.

    Comment by dscott — July 5, 2017 @ 7:42 am

  2. Between Inauguration and July President Trump Saved the USA $1 Trillion When Compared to Obama

    http://www.thegatewaypundit.com/2017/07/what-is-wrong-with-us-debt-reporting-the-amount-has-not-materially-changed-since-march-15th/

    So how is this being done? Let’s think about one possibility: As interest rates go up, the face value of the bond goes down in order to maintain PAR VALUE.

    Is the US government spending less money?

    Monthly Treasury Statement

    https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0417.pdf

    Figure 2 of Table 2 indicates we are running a cumulative annual budget deficit.

    So what this indicates to me is the Federal Reserve by manipulating the interest rate is coordinating with the Treasury to stay below the debt ceiling. That’s a short term play and not sustainable.

    Comment by dscott — July 5, 2017 @ 8:24 am

  3. Slightly false.

    The national debt has been frozen at its ceiling since mid-March. The national debt has probably increased by about anouther $100 billion since then, and will skyrocket in July and Aug (lo-revenue months), but the reported value won’t change because of “extraordinary measures” (moving money around) taken by Treasury. Those efforts will get exhausted in mid-October.

    Still, vs. Obama is at the moment about $900 bil better than Obama, and the lead will grow despite deficits occurring in the background.

    The above also excludes TARP, which though it was mostly paid back, led to tens of billions of losses in the GM bailout. (including tax benefits of illegally allowed loss carryforwards from GM’s and IIRC also Chrysler’s bankruptcy).

    Comment by Tom — July 5, 2017 @ 9:14 am

  4. Wind power is a joke, as described.

    Solar power is a joke, because of costs involved and the toxic materials used in production and involved in disposal.

    Comment by Tom — July 5, 2017 @ 9:16 am

  5. Remember Democrats painting Republicans as pushing grandma in her wheelchair over the cliff in their video?

    Well, that was in fact a PROJECTION of what Democrats actually did:

    How A Bogus Claim About Medicaid Made It Into The Los Angeles Times With No Pushback

    http://thefederalist.com/2017/07/05/bogus-claim-medicaid-made-los-angeles-times-no-pushback/

    after Ohio expanded Medicaid to more than 725,000 able-bodied adults under Obamacare, it rolled back eligibility for some 34,000 seniors and individuals with disabilities as a cost-cutting measure.

    Not only was it a cover up for their behavior regarding Medicaid expansion, it was in fact Democrats who threw crippled grandmas over the cliff. EVERY time a Democrat makes an assertion about Republicans doing something evil, it is in fact an admission of Democrats actual evil doings.

    BTW- John Kasich literally sacrificed the most vulnerable of society so he could virtue signal how kind and magnanimous he is. What a jerk! Leave it to a liberal to claim credit for doing something good as a cover up for his disgusting behavior. This is the jerk that says we can’t repeal ObamaCare because people will die!

    Now let’s consider that States right now are tightening work rules on collecting SNAP and what is the result? They are getting out of the program. What do you think would happen IF similar rules were applied on Medicaid expansion? IMO – the bulk of those so called able bodied people are illegal aliens, just like SNAP and ObamaCare itself. It was always about making the middle class pay benefits for greedy skin flint limousine liberals hiring cheap illegal alien labor so they didn’t have to pay those benefits. Did you honestly believe that an underpaid illegal alien was going to pay for their visits to the emergency room when the Law says you can’t turn them away?

    Comment by dscott — July 5, 2017 @ 2:59 pm

  6. Thanks. I will research this further.

    Comment by Tom — July 5, 2017 @ 4:15 pm

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