Tag Archives: FTX

Dec 30 2022

Treasury Dept Makes Rule Determination Undermining Premise of EV Tax Credits Within Inflation Reduction Act


Posted originally on the CTH on December 29, 2022 

Treasury Dept Makes Rule Determination Undermining Premise of EV Tax Credits Within Inflation Reduction Act

December 29, 2022 | sundance | 132 Comments

We accept the named legislation “Inflation Reduction Act” (IRA) is a legislative misnomer intended to obfuscate the true construct of the bill.  The IRA was factually the ‘green new deal’ program packaged under the guise of an ‘inflation reduction’ premise.  However, in order to discuss the outcome of the content we have to play the game of pretending around the purpose of the legislation.

Within the IRA there was a $7,500 tax credit for American made Electric Vehicles.  The intent of the legislation was to provide incentives for U.S. consumers to purchase ‘sustainable’ and environmentally friendly electric cars, trucks, SUV’s etc made in America.

The Congressional Budget Office (CBO) scored the bill with this legislative intent in mind.   However, the Treasury Department is now taking apart the granular details of the legislation in order to qualify foreign made vehicles for the $7,500 credit. The rules interpretation from the Treasury Dept essentially negates the CBO score, and the outcome is going to be much more expensive than initially stated.

Because the $7,500 comes in the form of a tax credit, the IRS (Treasury) is the institution making the determinations for qualification.  Treasury is changing the qualifications to permit basically any EV to qualify, by parsing a difference between a leased vehicle and a purchased vehicle.  Additionally, Treasury is changing the battery sourcing aspect by qualifying essentially any trade agreement as a Free Trade Agreement (FTA), saying the term Free Trade Agreement was undefined in the legislation.

As an outcome & simply cutting to the chase, EV batteries from just about anywhere, inside EV vehicles from basically anywhere, that are purchased as leases from just about any auto manufacturer, will qualify for the $7,500 credit. It’s all a shell game, with the Biden administration determining where the pea is located.

Dec 29 (Reuters) – The U.S. Treasury Department said Thursday that electric vehicles leased by consumers starting Jan. 1 can qualify for up to $7,500 in commercial clean vehicle tax credits, a decision that makes those assembled outside North America eligible.

The announcement is a win for South Korea and some automakers that earlier this month sought approval to use the commercial electric vehicle tax credit to boost consumer EV access. Automakers said the credit could be used to reduce leasing prices.

The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for purchases of electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The new Treasury guidance does not change the definition of what constitutes North American assembly to make more vehicles eligible for EV purchases.

Treasury said it was using “longstanding tax principles” to determine consumer leasing could qualify for the EV tax credit.

The IRA also imposes significant battery minerals and component sourcing restrictions, sets income and price caps for qualifying vehicles and seeks to phase out Chinese battery minerals or components. The commercial credit does not, however, have the sourcing restrictions of the consumer credit.

Senator Joe Manchin, a Democrat who chairs the chamber’s energy panel, urged Treasury to pause implementation of both commercial and new consumer EV tax credits and said they had bent “to the desires of the companies looking for loopholes” and would seek new legislation that “prevents this dangerous interpretation from Treasury from moving forward.” (read more)

From the Wall Street Journal, “One of the documents released Thursday pointed out that because the legislation doesn’t define what a free-trade agreement is, the Treasury Department might consider other types of trade agreements to expand the eligibility. The department didn’t provide examples of such agreements, but trade lawyers have suggested that the 2019 bilateral trade agreement with Japan and the World Trade Organization’s government procurement agreement could be candidates.” (link)

I am reminded of the words from Democrat Congressman Alcee Hastings during the construction of the ObamaCare legislation.  WATCH (10 secs):

.

Dec 29 2022

LET’S DO THIS! Kari Lake, Brendan Miller, Pleb AND MORE! VIVA IS BACK!


vivafrei Published originally on Rumble on December 27, 2022

Katie lake won the election just like President trump won the election in 2020. The Corruption in the political system is now totally out of control and if we can’t fix it the republic is gone.

Dec 29 2022

President Trump – The Interview You Thought You’d Never See


Awaken With JP originally Published on Rumble on  December 27, 2022

Anything JP does is good

Dec 28 2022

Exposing the Real Reasons the RNC Ignores You (Pt. 1) | Harmeet Dhillon | POLITICS | Rubin Report


The Rubin Report Published posted originally on Rumbal on December 26, 2022

Dave Rubin of “The Rubin Report” talks to candidate for RNC Chair Harmeet Dhillon about why the RNC suffered major losses in the 2022 midterm elections under the failed leadership of RNC chairwoman Ronna McDaniel; how she would change the political strategy of the Republican National Committee; why Republicans don’t seem to know how to win an election; and the free speech litigation she has done on the behalf of the Daily Wire and Project Veritas.

Dec 28 2022

Exposing This State’s Secret Enemies List (Pt. 2) | Harmeet Dhillon | POLITICS | Rubin Report


The Rubin Report Published originally on Rumble on December 28, 2022

Dave Rubin of “The Rubin Report” talks to candidate for RNC Chair Harmeet Dhillon about how the Twitter files have confirmed the suspicions of the Center for American Liberty’s lawsuit against Twitter; how she exposed the state of California’s secret enemies list; why she is representing Rogan O’Handley (aka DC Draino) in his fight against big tech censorship; how Republicans dropped the ball in dealing with big tech regulation; how section 230 of the communications decency act needs to be reformed; and why we need a social media bill of rights.

Dec 28 2022

Understanding the Neocons


Armstrong Economics Blog/Uncategorized Re-Posted Dec 28, 2022 by Martin Armstrong

QUESTION: I saw you on TV here in Russia. I think you are more respected in Russia than in the United States. You are the only person ever to say that war is created by politicians and not the people. Do you see any hope of avoiding war?

VR

ANSWER: Unfortunately, no! The only real question is how bad does it get?

As I said at our World Economic Conference, nobody has tried to defeat this model more than me. I have come to see that you really cannot change the long-term because nobody will act for the future. They only react to immediate news and propaganda. Congressman Adam Kinzinger said that NATO could take out Russia in only three days. Kinzinger is the new John McCain. He always advocates war and is clueless. His statement that NATO could take out Russia in 3 days is the most absurd statement I have ever heard.

Kinzinger acts as if NATO could completely destroy Russia in 3 days and they never get a shot off? It is beyond me why these people always preach war and have ZERO regards for the consequences. These people should be barred from ever holding office even for a dog catcher. They live in a delusional world. They also hate China. So they are supposed to wait until NATO destroys Russia in 3 days and then we turn to destroy them in 5 days? Then we also ask North Korea and Iran to please wait their turn for destruction.

The US, Europe, Russia, China, and even Iran all have their Neocons. We should gather them all up, throw then in Madison Square Garden, sell tickets and bet on who is the last one standing. Anyone else who wants to be a Neocon should just be put in the line for the next match.

Dec 28 2022

Treason from The Deep State?


Armstrong Economics Blog/Politics Re-Posted Dec 28, 2022 by Martin Armstrong

I have received a lot of emails asking why just five days after the New York Post revealed the Hunter Biden laptop story that went all the way to the top involving his father, now President Biden, the former CIA Director John Brennan, and former Director of National Intelligence James Clapper announced on October 19th, 2020, a letter stating that this was a product of Russian disinformation and “hacking.” There have been people looking into this pair of Neocons who will say anything to reach their end goal – World War III to wipe Russia off the face of the earth and attempting to investigate what amounts to TREASON. They are insisting on war and were against Trump for he did not want to wage war against Russia. That contributed to the whole RussiaGate nonsense.

It has been clearly established now that both Brennan and Clapper knew the Steel Dossier was fake and created by Hillary. They remained silent propelling the country into wasting millions and creating an image where 70% of Democrats believed that Putin interfered in the 2016 election. Without Putin, Hillary would have won and since Trump was against funding the NeoNazis of Ukraine that John McCain promised in December 2016 even before Trump was sworn in, that was it. He had to be removed to keep the hatred going of the Neocons.

Both of these guys did everything they could to ensure Trump would be removed from office. Why? Because Trump was anti-war the same as John F. Kennedy. The one thing that I was shocked and impressed with about Donald Trump was when I went to dinner at Mara largo in March 2020. He said then that he wanted to pull the troops out of Afghanistan. It was the first time I ever heard ANY head of state express any remorse for those who die in these endless wars.

Trump said he was sick of having to write letters to the parents explaining that their son died for his country with honor. He said that they were fighting there over borders and religion for 1,000s of years – “What difference are we going to make?” That will make those who just hate Trump angry. They listen to all the one-sided propaganda and are incapable of free thought.

Trump discovered that the people in his cabinet were all plants from the establishment. John Bolton never saw a war he did not support. He cared nothing about the boys who die for his Neocon extremes, or of the children whose levels will be forever changed because their father dies for Bolton’s Neocon dreams.

Robert McNamara (1916 – 2009) was a leading Neocon during the 1960s who pushed the country into the Vietnam war.  He was famous for saying:

I met Robert McNamara back in the ’90s. I must say, he was less of a Neocon thirty years later. Before he died in 2009, he wrote a book, which I recommend should be MANDATORY reading for all Neocons. What you think is real is far more dangerous than anything else when you have a settled closed mind. That is the mark of stupidity – not intelligence.

The very thing that destroyed Communism is what they are trying to do with us – end all conversation and accept only what they tell us. It is curiosity that keeps human society advancing. If we are not curious and question our surroundings, we crumble and die. A healthy debate of the issues is vital to our future survival as a society. Shut that down as they are doing right now with government censorship of social media, the end will not be that far behind.

The Deep State is controlled by the Neocons. They cannot sleep at night without an enemy. They NEVER advocate peace – they always want war. Most people believe that JFK was taken out by the CIA because he was against Vietnam. As soon as he was gone, Johnson took us into Vietnam even when the tapes confirm he knew the Vietnamese never attacked us. So much for details. They always need to pretend that they are not the aggressor – it is always the other guy.