I am so glad to see that the House passed the bailout bill today and that President Bush signed it into law. Why? I sell solar electric systems for a living.
In Bailout 2.0, our fine Senators and Representatives saw fit to extend the 30% solar investment tax credit for eight years. Along with extending it, they removed the $2,000 cap on residential solar electric systems.
Within hours of the signing, I received an email from a customer, "If I put in a $40,000 system, does that me I get a $12,000 tax credit instead of a $2,000 tax credit? When does the credit kick in?" His numbers are correct and the credit kicks in after December 31, 2008. It will be great for business.
So why do I feel so bad, so embarrassed to admit that I got mine?
How can I make this more plain. For at least the last 8 years the "I got mine" attitude has ruled and look what it's gotten us...
I regularly see people driving $40,000-$100,000 cars (I drive a 2004 Prius). They got theirs.
I regularly see people working for $8/hour at some fast food joint. Did they get theirs?
John McCain has
6, 7, 8, homes and 13 cars. He got his.
67,000 foreclosures happened in June of 2008 nationwide. Did they get theirs?
Ted Kennedy lives on an Island and has the best health care in the world. He got his.
40,000,000 Americans don't have health insurance, Did they get theirs?
I met a guy who bragged that he has $2,000,000 home but "earned" so little last year that he will qualify for 50% increase in the solar system grant he'll get from the state. He got his.
How does reckless spending, wealth concentration, rampant consumerism... help the common good? Why have so many lost sight of the common good?
You could argue that the Solar Investment Tax Credit would have passed before the end of the year anyway so why get stressed over it. My answer. $700,000,000,000 wasn't enough? Who's to say that $850,000,000,000 is enough?
I guess I shouldn't feel bad. After all, I got mine.