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Buffet also said, "I will do anything that is basically covered by the law to reduce Berkshire's tax rate.” … “For example, on wind energy, we get a tax credit
by erentz 3y ago
Buffet also said, "I will do anything that is basically covered by the law to reduce Berkshire's tax rate.” … “For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."
- Aachen 3y agoFrom what I heard, they also make sense without subsidies (about the same as solar panels which everyone is throwing onto their roofs now, except an efficient unit doesn't cost millions to get started), but I suppose this guy's logic for "worth it" includes outperforming sticking his money into an index fund Also, what surprised me to learn is how much money goes into subsidies for fossil fuel companies. I really didn't think they needed that
- SamBam 3y agoOil also doesn't make sense without subsidies. If renewables are going to compete, they currently need subsidies. He's simply saying that they wouldn't cover their own costs without the credits. Not that the credits somehow pay for more than the price of the wind farm.