A fair amount of politicians possess the trait of pomposity. However, certain politicians display their own pompousness at the expense of intelligence, common sense and rational thought. One politician, Sen. Edward Markey (D-Mass.), shunned common sense in order to rally young, impressionable minds towards socialism.
Markey spoke at Howard University in Washington D.C. Monday evening, alongside Green New Deal co-author Rep. Alexandria Ocasio-Cortez (D-N.Y.) and socialist Sen. Bernie Sanders (I-Vt.), to speak about how awesome the Green New Deal is going to be when it’s implemented, as if its implementation is a foregone conclusion.
The senator took aim at the oil and gas industry and at those who have justifiably criticized the Green New Deal, which seems less about climate change and more about pushing socialism to Americans, particularly younger people. Markey even went so far as to say at one point, “give us some of that socialism.”
What about the oil and gas industry tax breaks that are a permanent part of the tax code? Some of which have been on the books for over 100 years? Republicans only call it socialism when we [Democrats] try to help the things we like. Here’s what I say for wind and solar and all electric vehicles and clean energy, ‘Give us some of that socialism that the oil and gas industry has had for a century!
Watch Markey’s comments below:
Markey is essentially saying that he wants green energy companies and people that ascribe to the clean energy doctrine to receive the same kind of tax breaks that oil and gas companies do. The problem with Markey’s statement, and why it’s so incredibly misleading, is that tax credits for individuals who “go green” already exist, as well as some breaks for green companies.
I won’t list them all, but we can begin with the Business Energy Investment Tax Credit (ITC). ITC is classified as a “Corporate Tax Credit” that gives companies a 30 percent “rebate” for “solar, fuel cells, wind,” as well as a 10 percent “rebate” for “geothermal, micro turbines and CHP [Combined Heat & Power].”
There’s the Commercial Buildings Energy Efficiency Tax Deduction, also known as 179D:
A tax deduction of $1.80 per square foot is available to owners of new or existing buildings who install (1) interior lighting; (2) building envelope, or (3) heating, cooling, ventilation, or hot water systems that reduce the building’s total energy and power cost by 50% or more in comparison to a building meeting minimum requirements set by ASHRAE [American Society of Heating, Refrigerating and Air-Conditioning Engineers] Standard 90.1-2001 (for buildings and systems placed in service before January 1, 2016) or 90.1-2007 (for buildings and systems placed in service before January 1, 2017).
As far as individuals, there’s the Residential Renewable Energy Tax Credit, which is classified as a “Personal Tax Credit.” The “rebate” amount is listed at 30 percent for “a system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer.” Tax credits can be claimed by individuals who install any of following onto their property: solar-electric, solar water-heating, fuel cell, small wind-energy or geothermal heat pumps.
You get the point. Markey can claim that “green” energies don’t receive tax breaks, but they do. He may want “some of that socialism,” but it will be the American people who suffer from politicians promoting an ideology that has always, historically, failed.