Oct 162012

There is no possibility now of my voting for President Obama, but I might actually prefer his energy and environmental policies to Romney’s if he could figure out how to implement them without massive corruption, lawbreaking, and cronyism.

But this is little more than an ex post facto double-cross. Energy created the tax avoidance problem in the first place by gifting Argonaut and Madrone the net operating losses to delay the Solyndra crack-up that was fast becoming inevitable. That left taxpayers worse off than if they simply let Solyndra fail.

This raises a question or two for the President who once called Solyndra a “testament to American ingenuity and dynamism” and who keeps accusing Mitt Romney of supporting tax breaks for outsourcing and corporate jets, which he doesn’t. Here one of Mr. Obama’s own billionaire pals is trying to sidestep a federal tax bill amounting to hundreds of millions of dollars as a result of an epic crony capitalist fiasco.

via Review & Outlook: The Solyndra Memorial Tax Break – WSJ.com.