UNREAL … YOUR HARD EARNED TAX DOLLARS HANDED OVER TO SO-CALLED GREEN ENERGY AND NO ACCOUNTABILITY.
The Daily Caller is reporting that the IRS has handed out billions of dollars to support Barack Obama’s green energy projects. You know, those one’s like those unsuccessful and bankrupt companies like Solyndra. And it gets worse, if possible. The IRS is not tracking the money to see how it was being spent. ARE YOU KIDDING, WHEN WILL THIS ALL STOP!!! The IRS, the organization who makes people’s lives miserable for not properly tracking their income, does not have to do the same with tax payer dollars? Talk about the ultimate in hypocrisy. Honestly, the IRS really does need to be abolished and converted into an entity that just counts the tax revenue sent in by Americans from a flat or fair tax and no longer allowed to harass or divvy out monies at the bequest of a president.
A new government watchdog report found that the Internal Revenue service has handed out billions of dollars to support green energy projects, and then failed to mention how the money was spent on building new power generation.
The Government Accountability Office (GAO) reports that IRS tax subsidies to green energy operators “accounted for an estimated $13.7 billion in forgone revenue to the federal government for renewable projects and $1.4 billion for traditional projects” between 2004 and 2013.
That’s a lot of money, but the IRS can’t (or won’t) tell government auditors how much green energy generating capacity their tax subsidies are supporting. The GAO says the IRS “is not required to collect project level data from all taxpayers” who claim an Investment Tax Credit (ITC) or Production Tax Credit (PTC).
“IRS officials stated that IRS is unlikely to collect additional data on these tax credits unless it is directed to do so,” the GAO reported. “Since 1994, GAO has encouraged greater scrutiny of tax expenditures, including data collection. Without project-level data on the ITC and PTC, Congress cannot evaluate their effectiveness as it considers whether to reauthorize or extend them.”