One of the many ways the elitists use your energy to
transfer more of your energy to them as he commented on accelerated
depretiation IRS tax scheme written by lawmakers that have their own self
interests in mind or maybe also that of their friends, buddies, partners in
business, and family who know how to "get ahead" and leave others not only
behind but often in the quicksand. Getting ahead is not all bad, we run a
race and one or a few are ahead leaving others behind, but that's in a fair
race, these tax schemes favor those with money to invest and with renewable
energy schemes, those who invest not only get ahead, they basically start
the race at the finish line. They cannot lose. They always win. They never
start where everyone else starts and what makes these schemes horrible is
that with renewables we are dealing with proven failed systems so what ends
up happening is it's merely $ energy transfer. It may be all legal but it is
immoral.
These are the crafty rules written by those same congressional
lawmakers that recently boasted how they saved taxpayers $1 billion a year
by forcing all able bodied humans to work or they don't get food stamps
because no one should sit around and get free money from government except
of course those who write the laws that make millions pour into their
portfolios as they do nothing. Even though there is not 100% employment in
this country it doesn't matter to them if these able bodied can't find work
what's important is the presentation scheme of making you feel like they are
saving you the taxpayer billion$ when all it is saving you is $.52 per month
by
ripping food stamps away from people who overwhelmingly don't work because
they can't find a fucking job in areas that elitist snobs use tax schemes to
send jobs to other parts of the world while their portfolios skyrocket in
value while government IRS revenues because of these schemes lose $53.2
billion per year.
Vermont is "calling it quits" in allowing new wind
farms to be set up as there is way too much public hostility there now as
the people being screwed by these systems are realizing that it's not at all
like promised and as seen on TV.
They would be even higher, if the
costs of other items were properly allocated to the owners of wind and solar
projects, instead of shifted elsewhere. See below section High Levels of
Wind and Solar Require Energy Storage.
About 2/3 of the financial value of a wind project is due to direct and
indirect subsidies, and the other 1/3 is due to electricity sales.
– Indirect subsidies are due to federal and state tax rebates due to loan
interest deductions from taxable income, and federal and state MARCS
depreciation deductions from taxable income.
– Direct subsidies are up-front federal and state cash grants, the
partial waiving of state sales taxes, the partial waiving of local property,
municipal and school taxes.
Any owner, foreign or domestic, of a wind and/or
solar project, looking to shelter taxable income from their other US
businesses, is allowed to depreciate in 6 years almost the entire cost of a
wind and solar project under the IRS scheme called Modified Accelerated Cost
Recovery System, MARCS. The normal period for other forms of utility
depreciation is about 20 years.
Then, with help of Wall Street financial wizardry
from financial tax shelter advisers, such as BNEF*, JPMorgan, Lazard, etc.,
the owner sells the project to a new owner who is allowed to depreciate,
according to MARCS, almost his entire cost all over again. Over the past 20
years, there now are many thousands of owners of RE projects who are cashing
in on that bonanza.
Loss of Federal and State Tax Revenues: The
loss of tax revenues to federal and state governments due to MARCS was
estimated by the IRS at $266 billion for the 5y period of 2017 – 2021, or
about $53.2 billion/y. The IRS is required to annually provide a 5y-running
estimate to Congress, by law. The next report would be for the 2018 – 2022
period.
The indirect largesse of about $53.2 billion/y, mostly for wind and solar
plants^ that produce expensive, variable/intermittent electricity, does not
show up in electric rates. It likely is added to federal and state debts.
Most of the direct federal subsidies to all energy projects of about $25
billion/y also do not show up in electric rates. They likely were also added
to the federal debt.
Most of the direct state subsidies to RE projects likely were added to
state debts.
The additional costs of state-mandated RPS requirements likely were added
to the utility rate base for electric rates.
* BNEF is Bloomberg New Energy Finance, owned by the pro-RE former Mayor
Bloomberg of New York, which provides financial services to the wealthy of
the world, including providing them with tax avoidance schemes.
^ In New England, wind is near zero for about 30% of the hours of the
year, and solar is minimal or zero for about 70% of the hours of the year.
Often these hours coincide for multi-day periods, which happen at random
throughout the year, per ISO-NE real-time, minute-by-minute generation data
posted on its website. Where would the electricity come from during these
hours; $multi-billion battery storage, insufficient capacity hydro storage?
This explains why we see all of these companies constantly shifting
ownership.
We see this in the trail of ownership of sPower and asset
transfers as well.
Arizona where the Chevelon Canyon Butte wind project sited on massive 49
square miles having received approval by government agencies while there was
high disapproval by residents in the counties it will be placed in has a
SWAMP rating of only 28%
regarding ethics and rules that make sure politicians are not corrupt.
Here is an example of this tax equity financing notice in the 3rd
paragraph "As part of ...... wind generation assets must be transferred inot
a new project company."
"Ashtabula
Wind
I,
LLC is
foreign
limited liability
company
authorized
to
do
business
in North
Dakota
with a
principal
address
of
700
Universe
Blvd,
JunoBeach,
FL,
33408"
Notice the company is foreign owned and that
principle location is tax free state of Florida. This is how money is
channeled from your federal taxes to these rich corporations and their
beneficiaries while these monies are often added to national debts in the
trillions and you watch your taxes go up and your electric and other energy
bills go up and the rich just keep getting richer and richer and richer off
your energy.
HORSEPOWER.NET
1/25/2020
One of the many ways the elitists use your energy to transfer more of your energy to them as he commented on accelerated depretiation IRS tax scheme written by lawmakers that have their own self interests in mind or maybe also that of their friends, buddies, partners in business, and family who know how to "get ahead" and leave others not only behind but often in the quicksand. Getting ahead is not all bad, we run a race and one or a few are ahead leaving others behind, but that's in a fair race, these tax schemes favor those with money to invest and with renewable energy schemes, those who invest not only get ahead, they basically start the race at the finish line. They cannot lose. They always win. They never start where everyone else starts and what makes these schemes horrible is that with renewables we are dealing with proven failed systems so what ends up happening is it's merely $ energy transfer. It may be all legal but it is immoral.
These are the crafty rules written by those same congressional lawmakers that recently boasted how they saved taxpayers $1 billion a year by forcing all able bodied humans to work or they don't get food stamps because no one should sit around and get free money from government except of course those who write the laws that make millions pour into their portfolios as they do nothing. Even though there is not 100% employment in this country it doesn't matter to them if these able bodied can't find work what's important is the presentation scheme of making you feel like they are saving you the taxpayer billion$ when all it is saving you is $.52 per month by ripping food stamps away from people who overwhelmingly don't work because they can't find a fucking job in areas that elitist snobs use tax schemes to send jobs to other parts of the world while their portfolios skyrocket in value while government IRS revenues because of these schemes lose $53.2 billion per year.
Vermont is "calling it quits" in allowing new wind farms to be set up as there is way too much public hostility there now as the people being screwed by these systems are realizing that it's not at all like promised and as seen on TV.
Willem Post wrote the following on January 24, 2020 found here archived at https://web.archive.org/web/20200125101829/http://www.truenorthreports.com/wind-power-industry-leader-calls-quits-for-vermont
Wind and Solar Subsidies Provide a Bonanza for Wall Street and Blittersdorf
This URL shows wind and solar prices per kWh would be at least 50% higher without direct and indirect subsidies.
http://www.windtaskforce.org/profiles/blogs/cost-shifting-is-the-name-of-the-game-regarding-wind-and-solar
They would be even higher, if the costs of other items were properly allocated to the owners of wind and solar projects, instead of shifted elsewhere. See below section High Levels of Wind and Solar Require Energy Storage.
About 2/3 of the financial value of a wind project is due to direct and indirect subsidies, and the other 1/3 is due to electricity sales.
– Indirect subsidies are due to federal and state tax rebates due to loan interest deductions from taxable income, and federal and state MARCS depreciation deductions from taxable income.
– Direct subsidies are up-front federal and state cash grants, the partial waiving of state sales taxes, the partial waiving of local property, municipal and school taxes.
Any owner, foreign or domestic, of a wind and/or solar project, looking to shelter taxable income from their other US businesses, is allowed to depreciate in 6 years almost the entire cost of a wind and solar project under the IRS scheme called Modified Accelerated Cost Recovery System, MARCS. The normal period for other forms of utility depreciation is about 20 years.
Then, with help of Wall Street financial wizardry from financial tax shelter advisers, such as BNEF*, JPMorgan, Lazard, etc., the owner sells the project to a new owner who is allowed to depreciate, according to MARCS, almost his entire cost all over again. Over the past 20 years, there now are many thousands of owners of RE projects who are cashing in on that bonanza.
Loss of Federal and State Tax Revenues: The loss of tax revenues to federal and state governments due to MARCS was estimated by the IRS at $266 billion for the 5y period of 2017 – 2021, or about $53.2 billion/y. The IRS is required to annually provide a 5y-running estimate to Congress, by law. The next report would be for the 2018 – 2022 period.
The indirect largesse of about $53.2 billion/y, mostly for wind and solar plants^ that produce expensive, variable/intermittent electricity, does not show up in electric rates. It likely is added to federal and state debts.
Most of the direct federal subsidies to all energy projects of about $25 billion/y also do not show up in electric rates. They likely were also added to the federal debt.
Most of the direct state subsidies to RE projects likely were added to state debts.
The additional costs of state-mandated RPS requirements likely were added to the utility rate base for electric rates.
* BNEF is Bloomberg New Energy Finance, owned by the pro-RE former Mayor Bloomberg of New York, which provides financial services to the wealthy of the world, including providing them with tax avoidance schemes.
^ In New England, wind is near zero for about 30% of the hours of the year, and solar is minimal or zero for about 70% of the hours of the year. Often these hours coincide for multi-day periods, which happen at random throughout the year, per ISO-NE real-time, minute-by-minute generation data posted on its website. Where would the electricity come from during these hours; $multi-billion battery storage, insufficient capacity hydro storage?
also reference https://www.wind-watch.org/news/2020/01/24/wind-power-industry-leader-calls-quits-for-vermont/
This explains why we see all of these companies constantly shifting ownership.
We see this in the trail of ownership of sPower and asset transfers as well.
Arizona where the Chevelon Canyon Butte wind project sited on massive 49 square miles having received approval by government agencies while there was high disapproval by residents in the counties it will be placed in has a SWAMP rating of only 28% regarding ethics and rules that make sure politicians are not corrupt.
Here is an example of this tax equity financing notice in the 3rd paragraph "As part of ...... wind generation assets must be transferred inot a new project company."
This was found on the North Dakota Public Utilities Commission website under the section of various orders.
"Ashtabula Wind I, LLC is foreign limited liability company authorized to do business in North Dakota with a principal address of 700 Universe Blvd, JunoBeach, FL, 33408"
Notice the company is foreign owned and that principle location is tax free state of Florida. This is how money is channeled from your federal taxes to these rich corporations and their beneficiaries while these monies are often added to national debts in the trillions and you watch your taxes go up and your electric and other energy bills go up and the rich just keep getting richer and richer and richer off your energy.
HORSEPOWER.NET
copyright 2020 Kenneth Wegorowski
quoted materials belong to respective owners and presented for education in fair use principles