ROMNEY to OBAMA in 2012 Presidential debate: “you don’t just pick the winners and losers, you pick the losers”

ROMNEY to OBAMA in 2012 Presidential debate: “…you don’t just pick the winners and losers, you pick the losers…”

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Romney – click on Romney to hear video

Romney said i n the debate, “And in one year you provided $90 billion in breaks to the green energy world. Now, I like green energy as well, but that’s about 50 year’s worth of what oil and gas receives and you say Exxon Mobil, actually this $2.8 billion goes to small companies, to drilling operators and so forth. If we get the tax rate from 35% to 25%, why that $2.8 billion is on the table.  Of course it’s on the table. That’s probably not going to survive to get the rate down to 25% but don’t forget, you put $90 billion, like 50 years worth of breaks into solar and wind to solar and wind, to Solyndra and Fisker and Tesla and I had a friend who said you don’t just pick the winners and losers, you pick the losers. This is not the kind of policy you want to have to get America energy secure.

While the Obama Administration’s Eric Holder and the DOJ is investigating an illegal $20,000 contribution by Dinesh D’Souza, fierce critic of the President, who has been indicted the Justice Department, you might wonder why the DOJ doesn’t investigate how millions in green energy money got funneled back into Obama’s reelection campaign?

President Obama’s taxpayer-funded trillion-dollar spending spree –– spent over $90 billion earmarked for clean energy.

Harry Reid “led the passage of the $814 billion stimulus bill and worked to include the loan guarantee program to help finance clean-energy projects.

Now the Obama Administration Is Taking Another GO at the FAILED Program That Funded Solyndra.  This must be stopped!

Here is Obama’s GREENTECH FAIL list WHICH HAS LAID WASTE ON TAXPAYER DOLLARS!!!

37. NEW – With the news of another tragic FAIL, Abengoa which received a $1.4 billion loan guarantee in 2010 to build one of the world’s largest parabolic trough solar plants near Phoenix, Ariz.  The following year it received another $1.2 billion in loan guarantees to build another solar plant in California’s Mojave Desert.  The following year it received another $1.2 billion in loan guarantees to build another solar plant in California’s Mojave Desert.

36. NEW – Smith Electric Vehicles – Despite $32 million in federal stimulus funds and status as one of Obama’s favorite “green” companies, the firm has halted production, having built just 439 of the promised 510 vehicles.  Bright Automotive (electric delivery vans)Carbon Motors (clean diesel-powered police cars)Aptera Motors (three-wheeled electric cars)Coda Automotive (inexpensive electric sedans), all bankrupt or near bankruptcy, applied for Government funds but didn’t win the lottery.  Tesla Motors, on the other hand has met with growing success.

35. Ecotality, an electric car charger maker, who won a $99.8 million grant from the U.S. Department of Energy four years ago filed for bankruptcy.

34.  GreenTech Automotive is owned by Capital Wealth Holdings, an investment company incorporated in the tax haven, the British Virgin Islands.  GreenTech president and Chinese businessman, Charles Wang, owns the investment company.  Wang is an expert on the EB-5 visa program and has coached other U.S. companies on how to effectively make use of it.  Virginia Governor, Terry McAuliffe is involved in electric car company.  The U.S. Securities and Exchange commission currently is investigating GreenTech’s use of the federal EB-5 visa-investor program, which raises funds from foreign nationals in exchange for U.S. green cards.

33. A $50-million loan previously award to Vehicle Production Group LLC (VPG)through the Advanced Technology Vehicles Manufacturing loan program (ATVMP) has gone unpaid. VPG, a maker of compressed natural gas-powered wheelchair-accessible vans, shut its doors in May after running out of cash.

32. SoloPower, the startup pitched as the most innovative player in Oregon solar manufacturing, will suspend its Portland operations.  State officials, too, were working to get in touch with the company, which has received a $10 million loan and a $20 million tax credit.  It also is in line for a $197 million federal loan, meant to help fund later stages of growth.

31. Rentech Incorporated For most of its 33-year history, Rentech Inc. tried to make money on green fuel development. But like its plans to sell synthetic diesel to major airlines in 2009, those efforts never really left the ground.  Rentech received $23 million from the DOE for a Colorado refinery turn wood into fuel.

30. SunTech Power, a China owned solar company struggling from a downturn in photovoltaic solar panels, benefited from a combined $84 million in Energy Department tax credits.

29. SolarWorld, a German company received more than $100 million in state and local tax incentives – only to see companies like SolarWorld in Hillsboro and SoloPower in Portland struggle in the wake of fierce competition, especially from Chinese companies. Source: Oregon bet big on this emerging technology

28. VESTAS, A Danish wind turbine company whose subsidiaries received over $50 million in U.S. stimulus dollars. Vestas also reported a net loss of 62 million euros, or $83 million, for the second quarter, compared with a loss of 8 million euros in last year’s comparable period. Revenue declined to 1.2 billion euros, compared with 1.6 billion euros a year earlier.

27. COMPACT POWER Plant that received $150M in taxpayer money to make Volt batteries furloughs workers.

26. CH2M HILL, is embroiled in atime card fraud scheme that took place between 1999 and 2008 when CH2M was servicing a DOE contract worth $2.2 billion, and at the beginning of 2013, it was discovered that CH2M HILL Plateau Remediation Company (CHPRC) “provided inaccurate cost data to support a multi-billion-dollar federal nuclear waste cleanup contract, “reported the Washington Free Beacon. Despite their history of legal and workplace safety violations, in 2009 an additional $1.3 billion was awarded to a different CH2M subsidiary to go toward the Hanford cleanup.

25. Bankrupt Amonix.

24. Bankrupt Babcock & Brown.

23. Bankrupt A123 Systems.

22. Bankrupt EASTERN ENERGY

21.Near Bankrupt 5N Plus The State of Wisconsin handed over $500 thousand to a Canadian company to open a solar panel recycling plant near De Forest.

20. BANKRUPT Fisker Automotive–was awarded a $529 million loan under an Obama admin program designed to spur production of advanced tech.  Fisker drew about $193 million of the Energy Department loan to engineer its Karma luxury plug-in hybrid. AL GORE!  Now the Chinese benefit from our hard earned taxpayer dollars!!!

19. BRIGHTSOURCE — President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company.

18. Bankrupt Solar Trust for America.

17. Bankrupt Energy Conversion Devices.

16. Bankrupt Raser Technologies.

15. Bankrupt First Solar – of course GE’s in the mix.

14. Bankrupt NEVADA N.G.P.

13. ENN Mojave Energy LLC – linked to Harry Reid,

12. Bankrupt Ener1—

11. Tonopah Solar – linked to Harry Reid, Nancy Pelosi and Crescent Dunes

These 10 failed projects ALONE, cost $3.4 billion in taxpayer funds AND COUNTING!

10. Bankrupt SolarReserve,

9. Bankrupt Beacon Power,

8. Bankrupt Geo Thermal,

7. Bankrupt Sempra Energy

6. Bankrupt Evergreen Solar, Inc.

5. Bankrupt SpectraWatt

4. Bankrupt the Crescent Dunes Solar Energy Project.

3. Bankrupt Abound Solar of Loveland, Co. $400 million from Obama

2. Bankrupt SunPower: Twice As Bad As Solyndra.

1. Bankrupt SOLYNDRA

Families will have less disposable income as they spend more to light and heat their homes, with seniors, families on fixed incomes and lower-income Americans being hit the hardest.

NOTE:  I agree much needs to be done (more practical examples abound, like passive shading) regarding pollution and the reduction of CO2 emissions but this post  is about pure politics, corruption and an abusive waste of taxpayer money.  I am not a climate change denier so don’t report me to the good professor.  I still do believe the jury is out on the all the reasons climate change advocates attribute to climate change.  Rather than panic and spend billions MORE of taxpayer dollars on failed Greentech technology, I believe in a pragmatic, limited government approach, such as that espoused by Bjørn Lomborg, author of The Skeptical Environmentalist and Cool It, to lower CO2 emissions.  I believe existing and new technology such as driverless cars will do much more to reduce emissions than government backed wind and solar.  Let the private sector do it’s job, which is to innovate, create jobs and grow the economy.  Let government get out of the way.

Romney Was Right! Small Business Owners Are Getting Screwed!

Help WantedI have been shouting from the roof tops about small business owners getting screwed by the Obama Administration’s “drum beating” campaign of class warfare to tax the rich.  Small businesses without a capital infusion from Venture Capitalists (VC) or angel investors, take many years to grow and become profitable.

Our investment capital comes from our own savings accounts, 2nd mortgages and personal loans.  We work immeasurable hours and spend our own money to build our businesses, while our famous “You Didn’t Build That” president, Obama, is trying to take all that away.

Small business owners are not “rich.”  They are getting screwed by Big Government and Big Business because they pay their taxes as individuals if they file as a Sub Chapter S or LLC corporations that pass all income down to the individual small business owner.

Now, as part of the fiscal cliff deal, higher taxes have become a reality for many small business owners.  Obama has done a great job of pitting the poor against the rich at the expense of the middle class, of which, include most small business owners.

The election’s over. Romney was right! Small Business Owners Are STILL Getting Screwed by Obama and his cronies!

Romney in the first 2012 presidential debate was absolutely right when he said,  “The gap between the rich and the poor has gotten larger. The rich will probably do fine if he (Obama) is reelected,” Romney said. “It is the middle class that is in real trouble. And the poor. I want the poor to get into the middle class. So many have fallen into poverty by virtue of his (Obama’s) policies. So this for me is all about the 100 percent.”

The Business Roundtable comprised of 150 of its corporate titans, in return for various forms of “pork”  threw small business under the bus.  As reported by the Wall Street Journal, Big Business Sells Out Small Business“One million small American business owners who pay individual income taxes shoulder a big rate hike (up to 39.6%, from 35%) while radically lightening the tax load for the Roundtable’s own corporate behemoths (to 28% from 35%).”

Additionally, when a separate bill is passed to lower corporate tax rates, by which any corporate tax reform will hinge upon on closing “loopholes” to pay for a lower corporate rate. Small business owners would lose tax perks along with everyone else—meaning they would pay even more—but they would not benefit from lower corporate rates.

As reported by the Blaze, Who’s Really Selling Out Small Business, “The $625 billion tax increase passed. Big business didn’t get their corporate tax cut…yet. But boy did they get goodies $40 billion in crony capitalism payoffs. The new tax bill gives away $78 million in tax breaks to benefit NASCAR; $62 million in tax credits for companies operating in American Samoa; $222 million of tax rebates to rum companies; $430 million in tax rebates for Hollywood film producers; $12 billion (with a “b”) in tax credits for wind power phonies like GE; $2.2 billion to renewable diesel companies; and $222 million in accelerated tax depreciation for businesses located on Indian reservations. Many of these companies will pay no taxes at all because of these rebates and credits.”

Much of the money small businesses earn, gets taxed as individual income, and would be reinvested in their businesses.  The naysayers would say, the money that is reinvested in the business is tax deductible because it can be expensed and therefore is not taxable.  The problem with that theory is a little thing called cash flow.  Cash flow is the Holy Grail of small business, money held in reserve, money not yet spent, which is essential for a small business, money that fuels business growth.  That money is is taxed as individual income for a small business owner.

Finally, there will be so called experts, that will say change your filing to a “C” Corp.  Without getting into all the details, every small business looks at the pluses and minuses of S Corp. vs. C Corp, vs. LLC etc… and a properly run small business will know best how to file their taxes.  Only they would know, based on their situation, what’s best when it comes to filing their taxes.  If you think you know better, start your own damned business and see how that goes.  I’ll still be shouting from the rooftops, that small business owners are getting screwed!

Here’s a small business owner’s take on how small businesses are being sold down the river by this administration and he voted for Obama.  Gia Pronto owner Marco Lentini on how government policies’ are impacting small business growth.  Is Government Getting in the Way of Small Business?

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