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Taxpayer dollars: too much spent on alternative energy?

POSTED: Wednesday, January 11, 2012 - 8:17am

UPDATED: Friday, January 13, 2012 - 7:29pm

Another "clean energy" plant closes doors after getting millions of taxpayer dollars.

A failed wood-to-ethanol "clean energy" factory in Georgia sucked up 65 million tax payer dollars. The plant is now closed.

The failed solar panel factory Solyndra wasted another 535 million dollars in federal loan guarantees.

Beacon Power in Massachusetts filed bankruptcy last year but not before using up 43 million dollars in federal money.

East Texans talk back on whether they think Uncle Sam's wasting our hard-earned tax dollars on alternative energy.

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Thank you, tonks, for making my point.

We're spending too much money on enforcing that ridiculous sonogram/vaginal probe law.

But no, green companies add a lot to the economy. We've subsidized agriculture and oil companies for so long. It makes sense to support green companies. I think it's appropriate given the efforts for years by big auto to subjugate any type of electric/alternative fuel car.

We have been spending to much tax dollars on the oil companies for years. So what the difference.

@don, No difference. Stop it all. As long as the government has the power to hand out legislative favors to the economic benefit of his or her donors this stuff will continue. Power corrupts. The only way to avoid corruption is to limit government's power. Until then, each party will continue to peddle influence.

The only proper role of government in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected. All efforts by government to redistribute wealth, or to control or manage trade, are improper.

Less for outright subsides, more for R&D. Less potential for waste that way I think. Plus, these failures listed add up to 643 million in fed funds right? Whereas Exxon ALONE gets 8 billion, twelve times as much as this handful of failed companies... Just thought I'd put that in perspective for ya'. There are thousands of green start-ups out there that are doing just fine (and adding loads of jobs too).

But Exxon Mobil PAID $73,210,000,000.00 in income taxes for years 2008,2009,and 2010. Yes, that is 73 billion (with a "B")! or about 10 times more than you claim they received.
Just thought I would put that 8 billion in perspective for ya'

They also paid in excess of $8,000,000,000.00 (yes, again with a B) to it's shareholders. Just for the year of 2010.

Remember, that is only Federal Income Tax. Does not include all the other taxes including state and local.

Just for the record, the tax bill you cite is paid overseas because Exxon does business in some of the most highly taxed countries in the world. They paid no US income taxes, but did pay sales taxes and duties.

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