WHAT THEY ARE SAYING: STATE OF THE UNION
House Energy & Commerce Committee:
President Obama Still Singing the Same Tune on Solyndra, Refuses to Accept Responsibility
“Some technologies don’t pan out; some companies fail.” -President Obama, State of the Union Address, 1/24/12
FLASHBACK, October 3, 2011: “No Regrets… There are going to be some failures, and Solyndra is an example... Hindsight is Always 20/20 … It Went Through the Regular Review Process, and People Felt Like this Was a Good Bet.”
If the Obama administration had listened to its own experts who predicted Solyndra’s woes, taxpayers would not be on the hook for over half a billion dollars
On Energy, the Two Words Obama Didn’t Say, Say the Most
President Obama omitted two words from his State of the Union speech, but there’s two words that speak volumes about the president’s direction for America’s energy policy. Keystone and Solyndra…
Obama’s Energy Policies Hurt the Poor and Middle Class the Most
This SOTU, President Obama called for doubling down on the clean energy industry through energy tax credits and a Clean Energy Standard. The President’s focus on costly and unreliable “clean” energy at the expense of more affordable and reliable energy is cutting deep into Americans’ pocketbooks.
Lower-income households who spent a much larger portion of their income on energy, and senior citizens who have the highest per-capita residential energy consumption, are hurt the most by policies that increase the price of energy. Meanwhile, only the better off are able to place taxpayer subsidized solar panels on their roofs.
The President’s latest decision, to reject the permit for the Keystone XL pipeline offers little relief for those who feel the pain of high gas prices at the pump. At record gasoline prices which are only expected to rise even further, it’s difficult to grasp why the President decided against increasing our energy supplies from our Canadian ally, unless it was a ploy to blame Republicans….
Once Again Mr. President, Warren Buffett Doesn’t Pay a Lower Tax Rate than His Secretary
As expected, especially her sitting in the audience, President Obama trotted out again the well-worn trope that Warren Buffett pays a lower tax rate that his secretary. The President did so to defend his new version of the“Buffett Rule” proposal that no millionaire pay less than 30 percent of their income in taxes.
The President can claim success on this one even before he ends his speech tonight because the Buffett Rule is already soundly in place. According to the CBO, the top 1% of income earners pay 30 percent of their income in all federal taxes.
The whole idea of the Buffett Rule is based on a fallacy. One that Warren Buffett himself should know better than to propagate. It originated because Warren Buffett claims he pays a much lower tax rate than his secretary. But he earns his income through capital gains from stock he owns in businesses. He pays a 15 percent rate on those gains when he realizes them. But before he enjoys those gains, the businesses that generate them pay the highest-in-the-world 35 percent corporate income tax rate. In reality, Buffett pays 50 percent on the income he earns- far above the rate his secretary pays…
“If the state of the union is actually stronger, it comes despite the policies of President Obama and not because of them. Tonight, the president claimed credit for ‘opening millions of new acres for oil and gas exploration,’ and he called for his administration to open ‘more than 75 percent of our potential offshore oil and gas resources.’ He also claimed credit for the fact that oil imports are down, even though the drop owes more to the ongoing hardships experienced by millions of Americans who cannot find jobs or afford to drive in the Obama economy.
“Job creators and American consumers should welcome the president’s latest energy promises with suspicion. Indeed, we must not forget that in the past month this administration has imposed one of the most onerous regulations on the American economy through EPA standards it admits will not have a measurable effect on health from the targeted emissions. Similarly, the president single-handedly rejected the Keystone XL pipeline permit and killed the chance for thousands of American blue-collar workers to find good-paying jobs. Tonight the president offered a golden tongue on affordable energy, but for the past three years he’s clenched a green fist.
Consumer Energy Alliance:
“[W]hile the President seemed to acknowledge the need for increased domestic oil production to reduce record-high gasoline and diesel prices, we have seen his Administration shut down the Gulf of Mexico with a moratorium, continue to block permits to allow exploration and production in Alaska and deny a permit for the Keystone XL Pipeline.
"CEA is hopeful that the President’s words tonight will result in federal agency deeds. America needs less regulatory oversight and more domestic energy production. Without a doubt, it will mark a tremendous change of direction for his Administration if he does."