Climate alarmism is disastrous for the poor and middle classes, and benefits only the rich elites who push expensive and ineffective policies. In other words, climate alarmism is a thoroughly Marxist and elitist movement.
“Green” subsidies benefit a relatively small minority of Americans, despite the myth that they can help everyone. Of course, that really shouldn’t be surprising, given how expensive and unreliable “green” energy is. From pricey electric vehicles (EVs) to the war on gas stoves and gas-powered vehicles, from inefficient and toxic wind/solar power to increased regulation, climate alarmism is harmful to everyone but the wealthy.
For instance, as of March, “Electric car prices vary dramatically, from less than $30,000 to well over $100,000 before any tax credits are applied.” And woke states like California are finding out the hard way how much toxic solar and wind power undermines the electric grid’s reliability. The green cult is terrible for the average American.
Climate Change Dispatch recently highlighted the lopsided nature of climate subsidy benefits:
The majority of the $47 billion in green tax credits claimed between 2006 and 2021 went to high-income households, according to a new study published Monday by the National Bureau of Economic Research…
Households in the top 20% of earnings nationally received about 60% of clean energy tax credits, while the bottom 60% of households received just 10%, according to the paper written by Severin Borenstein and Lucas W. Davis, two economists at the University of California, Berkeley… In the case of EVs, the top 20% of earners receive 80% of the credits, while the top 5% of earners receive 50%, according to the study.
And, as Climate Dispatch also noted, this benefit to the top earners has been “relatively constant” even despite a “slight broadening” with 2018 EV credits. Interestingly, there’s reportedly “only a small correlation between greater green tax credits and the adoption of technology such as heat pumps, solar panels, and EVs.” Indeed, in 2023, when the heat pump tax credit increased to 30%, shipments actually decreased!
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Unfortunately, climate alarmists don’t really care how damaging their ideology is. People like Al Gore can grow insanely rich off spreading climate lies while impoverishing other people. Indeed, those same fat cats like Al Gore and John Kerry have energy-sucking, palatial estates, and gas-powered private jets.
You and I are told to do fewer loads of laundry, take no vacations, use public transport, and live in tiny apartments with spotty solar-powered electricity by the only people who financially benefit from the climate lies and subsidies. As the World Economic Forum would say, you will have no property and no privacy — but don’t expect the elites to give up THEIR lifestyles.
Just like every other part of climate hysteria-driven “green” policy, green subsidies largely help only those who are already financially successful and/or powerful. But, unfortunately, considering who makes the decisions on these horrible policies, it was meant to be that way.
