Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Dick Young’s Safe America
  • Your Survival Guy’s Super States
  • Critical Race Theory
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money

Making Elon Musk Richer

November 1, 2021 By Debbie Young

SpaceX Chief Engineer Elon Musk answers a question from the press in front of the Crew Dragon that is being prepared for the Demo-2 mission, at SpaceX Headquarters, Thursday, Oct. 10, 2019 in Hawthorne, CA. Photo credit: (NASA/Aubrey Gemignani)

Big media outlets now are acknowledging how humiliating the climate deal loss is for President Biden and congressional progressives, reports Kimberly Strassel in the WSJ:

  • “The Centerpiece of Biden’s Climate Agenda Is All But Dead,” from Mother Jones.
  • “Progressive lawmakers seem resigned to losing their clean energy program,” from Jacobin.
  • “Biden’s Incredible Shrinking Climate Plan,” from the New Republic.
  • Several activists from the Sunrise Movement, an originator of the Green New Deal, are staging a hunger strike outside the White House.

A Boat Load of Pork for Corporate America

Looking to disguise its climate agenda trouncing, the Biden White House is emphasizing its top-line number for climate tax credits and subsidies, Ms. Strassel explains:

The bill is now an even bigger pig trough for any business, big or small, that claims even tenuous involvement in producing solar or wind power or electric vehicles.

The White House brags that money will even go to companies that aren’t in the renewable sector, via “grants, loans, tax credits and procurement” for “existing industries like steel, cement and aluminum” to help them with “decarbonization.”

Progressives want to tax billionaires like Elon Musk. This bill would make them richer.

In the White House’s fairytale, it claims “souped-up subsidies” will largely make up for the loss of enforcement mechanisms. What these subsidies actually will do is level real damage to energy reliability and to the economy.

These “souped-up subsidies” also promise progressives a raft of executive actions and agency regulations that will force companies into carbon compliance, argues KS.

Steamed Behind Closed Doors

At least some congressional Democrats are playing along, proclaiming the framework a climate victory.

But behind closed doors they are unconvinced—and steaming. They know the huge risks of attempting to impose any enforcement mechanisms by executive fiat. President Obama tried the same thing with his Clean Power Plan, only to get blocked by the Supreme Court. Thanks to Donald Trump’s judicial makeover, appellate courts will look skeptically on White House attempts to pre-empt Congress.

Get Drunk and Get Rolled

All this explains why progressives like Sen. Bernie Sanders aren’t yet signing on to the framework. The question is whether climate will prove a deal breaker.

Progressives have said repeatedly they’d never agree to a bill that didn’t give them their climate demands, and they got rolled. We’ll now see if they meant it.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • Elon Musk Is Ditching California
  • Is Elon Musk a Prepper?
  • Elon Musk – Our New ACLU
  • Is Elon Musk Right about the Apocalypse?
  • Author
  • Recent Posts
Debbie Young
Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, driving her Porsche Boxter S through Vermont and Maine, and practicing yoga.
Latest posts by Debbie Young (see all)
  • Breaking News: House Election Update - July 1, 2022
  • Should You Believe Ms. Hutchinson? - June 30, 2022
  • An Assault on America’s Central Core - June 29, 2022

Dick Young’s Must Reads

  • “The Goal”: Strong Families, Resilient Faith, Thriving Middle Class.
  • Escape From the City: You’re Going to Like What You See
  • America’s Colleges Have Become Progressive Liberal Rat Holes
  • Young’s Retirement Compounders Clearly Dominate!
  • America’s Silent Army with 423M Guns
  • You May Be Surprised by America’s “Least Woke City”
  • DEATH SPIRAL: Crime Soars in Democrats’ #DEFUNDTHEPOLICE Cities
  • The Four Most Important Words in Investing
  • The Fed – “Independent” and “Non Political” – Joins The Resistance
  • Democracy & Diversity: Not In the Constitution

Our Most Popular Posts

  • FOOD SHORTAGE: Not "If," But "How Bad?"
  • One Surprising Thing You Should Know About Private Jets
  • Saudi Oil Is Different from U.S. Oil?
  • Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London”
  • Good News for the 2nd Amendment
  • FLORIDA DODGED A BULLET: Elected Superb DeSantis Over Unstable Gillum
  • The Most Controversial Restaurant in Paris?
  • The Great Reset and the COVID Coup D'etat
  • 10th AMENDMENT: Dobbs Decision a Win for States' Rights
  • What Just Happened? Fixing Its Historic Mistake

Disclosure

RSS Youngresearch.com

  • Even Without Food and Gas, Inflation is Soaring
  • Time to Save, Troubles Dining Out, and Intelligence on Yellowstone
  • Purchases of Gaming Chips for Crypto Mining Tailing Off
  • RURAL RENAISSANCE: America Finds the Country Again
  • Are Google, Amazon, and Microsoft About to Crash This Specialized Real Estate Market?
  • Why Work When Taxes Take It All?
  • Regulators’ Bungled Attempts to Cut Emissions Drove Oil Prices Higher
  • Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London”
  • What Happens to Your Passwords When You Die?
  • Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More

For Investors Who Want to Stop Worrying About a Market Crash

Breaking News: House Election Update

WATCH: New York Governor Melts Down When Asked for Facts

Florida Is a Refresher Course in American Greatness

Should You Believe Ms. Hutchinson?

Biden’s Economy Even Weaker than Thought

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives