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Administration Preparing More Home(renter) Owner and Builder Subsidies Under The Guise Of "Home Energy Improvements"
The Obama administration, one-upping Helicopter Ben, will next start "accidentally" para-dropping worthless $100 trillion denominated dollars out C5 Galaxy planes. At this point any pretense of fiscal responsibility is dead and buried. The administration is dead set on subsidizing every single part of the economy until the bubble pops. Next up on the agenda Cash For Revolutions/Pitchforks.
From the Wall Street Journal: "The Obama administration is talking to big home improvement retailers about using more federal dollars to encourage homeowners to replace leaky windows and insulate the walls as part of a broader effort to spur hiring."
Administration and congressional aides said the talks are at an early
stage, and are among a variety of ideas for boosting employment under
consideration ahead of a "jobs summit" with business leaders that
President Barack Obama is hosting Thursday. That meeting comes a day
before the release of new employment data.
People familiar with the matter said White House officials are
discussing the use of expanded tax credits or cash rebates to consumers
who agree to conduct energy audits of their homes and subsequently take
specific steps to improve their energy efficiency.
One idea under discussion is raising the dollar value of a tax credit
that home owners making energy-efficiency improvements can qualify for
under an economic stimulus bill passed by Congress and signed into law
in February, people involved with the discussions said. The legislation
authorized a tax credit up to $1,500 for homeowners who add insulation,
energy efficient windows, or more efficient heating and air
conditioning systems. It also included billions of dollars to speed the
weatherization of the homes of low-income Americans.
Basically this is another subsidiy for deadbeats and for the homebuilders:
Scott Mason, vice president of government affairs at Lowe's
Cos., said the retailer has been in talks with Obama administration
officials and Senate staffers about various ways the government could
reward consumers who make energy-efficiency improvements to their
homes. Any new U.S. tax breaks or cash rebates would likely be
contingent on homeowners agreeing to cut their energy use by set
amounts, such as 10% or 20%, to qualify.
"If this can drive sales at Lowe's stores and put contractors and
subcontractors back to work, that could have a very positive effect,"
Mr. Mason said. "We're talking to people on both sides of Pennsylvania
Avenue about our perspective. We have seen home values decline around
the country, and there are things that can be done with energy
efficiency that can help drive home values up again."
Home Depot
Inc., in a statement, expressed support for "any program that provides
incentives to consumers to make their homes more energy-efficient."
Home Depot added that specifics of the proposal aren't final.
The circus in D.C. is in full swing. In the meantime, if you happen to be a member of that rare breed of fiscally responsible, saving, "living within their means" Americans, you are fucked. This time, complaints should be addressed to TheMiddleClassTerminator@federalreserve.gov
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Cool, seems like a nice little hidden tax potential ala cash for crap.
I put in new windows, get the tax credit, then have to PROVE to the government that I used less energy? Yeah, ok, that sounds like it will work. I'm sure if it doesn't I won't have to pay anything back in penalties and taxes.
He is speechless because gold is 1200.20
I know, I know, shocking...
Nah, just thinking discretion is the better part of valor here... and remembering Warren Zevon - "send lawyers guns and money dad, the shit has hit the fan."
Going long on pitchforks and torches seems to be a good position these days.
Um..if you can't afford to do it, the you won't Another epic FAIL.
We ought to have a TEOTWAKI dead pool. I say we're cooked by about 12/2011
Any takers???
And if that doesn't work, there's always the Forever Update and Continue to Keep Erecting Domiciles Act (FUCKED).
This "living within their means" American recommends other "living within their means" Americans use the additional time to prepare while the dream team runs the American Dream off the grand canyon cliffs at Bonneville salt flat record speeds. Picture it. It's not difficult.
Thanks Ben, I needed a few extra months. You are no fool. You know precisely what is upon us.
PS - I need a few more solar panels still, how about you pay us to install them? Maybe a few more "living within their means" will still be "living" on the other side of this event horizon...
Install a distillery
Amen to all of the above.
I wish we could also add, "grow some cannabis", but the "conservatives" who want to "get government out of their lives but not ours" won't let us do that.
The energy-efficiency stuff is exactly what the government should have done in the first place. These tax credits are for work that can be done by lots of small businesses; plus they truly will help America get more "energy self-sufficient". But of course Wall Streeters think hammers and screwdrivers are only for "the little people", and they fail to see how, without hammers and screwdrivers, nobody would be able to get their food to their tables for them.
Have you been reading James Wesley, Rawles www.survivalblog.com?
If not you should.
We live in Alaska, not one of his recommended retreat states, but then we will not have to deal with 300mm of what he calls the "golden horde" and I call a plague of locusts. We have one wood stove and are having a second installed shortly. Alaska is one giant wood lot. We are more that adequately prepared for the 60-75% of the population that will not be able to fend or sustain themselves. My dear wife of 42 years, and a former national retailer manger, is our Logistics Officer, and has us well organized. "Keep your powder dry, and your scalp on tight, pilgrim." George
After renting for years I decided to buy a house this summer. Contrary to what most ZHers believe about housing bubble - it is a PHYSICAL land. You know where you can grow stuff :)
It is in nice sub urban area, half acre lot (I know not much but can sustain a household), plently of rainfall, not far from major port urban city (maybe couple of hours on cycle).
I have got the start. Will learn those things you said as time goes on!
"Install a wood stove"
30% tax rebate as we speak - no need to show any energy stats, just the receipt.
In the meantime, if you happen to be a member of that rare breed of fiscally responsible, saving, "living within their means" Americans, you are fucked.
When in utopia do as the utopians....
Time to jam some credit lines. First up C. Then JPM. Maybe a little CapOne and WFC. This is going to fun. All cash advances go to buy more fookin gold.
F*** 'em all!
Best idea I've heard in awhile! Max out the credit cards and buy physical gold with all of it.
When the whole credit debacle collapses, I will have at least bought some hard assets with all that fake fiat money!
Thanks for the idea!
you sit here and think, oh this has gotten out of hand, and then it just continues, reminds me of how i felt during the internet bubble phase, each week more and more looney shit you just scratch your head at and go, wtf are people thinking
A little Obama love for our illegal alien friends. But seriously, screw the caulk and the windows, what about Christmas presents? Can we get some type of lead credit for buying Chinese toxic waste that's been re-purposed?
"...if you happen to be a member of that rare breed of fiscally responsible, saving, living within their means" Americans, you are fucked."
Typically, the true gems of Tyler's posts, of which there are many, have a sarcastic twist to them knitted together with a few very well chosen words.
This one is a gem of a whole different class in that it is straightforward and quite blunt. Unfortunately, it is bedrock fact and truth.
Slave masters simply upgraded from a whip to a printing press.