For This, They Want a Bailout?
Virginia Governor Tim Kaine (D) announce this week a series of proposed grants and tax incentives to encourage solar energy, biofuel use, and other environmental initiatives. State Senator and Democratic Gubernatorial hopeful Creigh Deeds accompanied the Governor as he made his statements. While the Commonwealth is mired in a multibillion dollar deficit due to overspending, the Governor still seems to think that he can use tax dollars to pick winners in order to please left-wing constituency groups.
Of course, if tax incentives are so good for business development, why doesn’t the Governor support cutting taxes on everyone in order to promote jobs? Then again, if the biofuel and solar energy technologies are so promising, why not let the producers market their wares at a competitive price in order to make money from sales of these obviously fashionable products? Now I for one am not against solar energy or alternative fuel technologies, but government at too many levels has spent untold billions with very little (and sometimes with a lot of counterproductive) result.
It’s funny how the Democrats are always denouncing Republicans for supporting tax cuts that allegedly benefit only “the rich.” Does anyone really think that poor people will benefit from this corporate welfare?
It will be interesting to see how much these proposed “incentives” are estimated to cost the Commonwealth, or what kind of tax revenue the Commonwealth expects to realize should this legislation pass the General Assembly.