Diary

Unintended consequences - $8B of your money, gone

Check out this post…turns out to be a great example of why governements aren’t good at giving out our money.

A few years back, the government passed a bill to encourage “greener” transportation by providing tax credits for the use of alternative fuels

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The paper companies are wasting diesel fuel (remember, the whole point of this bill was to decrease the use of such fuels) by adding it to a process even though it’s entirely unnecessary, and then claiming the tax credit. And, boy, is it worth it. The top ten paper companies are likely to take in $8 billion dollars from this tax credit.

I’m betting we’ll repeat this again and again for our bailouts.  Business is smarter than government.  I don’t like the paper companies for “taking” the money.  Then again, they were within the law…so who is really to blame?