Reprise - Medicare Savings Used to Fund EVs and "Green Energy" Initiatives

Seniors left holding the bag, upper classes get the green

---

Tuco’s Child Preface

Not a day goes by without another stunning debacle courtesy of the most corrupt and incompetent administration in the history of the USA. In my meanderings, I was flabbergasted to discover that the Inane Inflation Reduction Act (IRA) uses Medicare drug savings to fund EVs and “green energy” initiatives, instead of putting the money back into Medicare to help people in need. This latest cluster was apparently hidden in the obscure recesses of the Inane IRA Debacle.

Rots of Ruck with that.

---

From the Federalist and Grand Canyon Times: Medicare Savings Used to Fund EVs and "Green Energy" Initiatives

According to a report from Americans for Tax Reform (ATR), under the IRA, roughly $280 billion in savings from Medicare's prescription drug provisions went to fund green energy programs and tax credits. These provisions included a $7,500 tax credit for luxury EVs, a $4,000 credit for pre-owned EVs, and an annual $1,200 credit for "energy-efficient" doors and windows, among others.

The report from ATR notes that the primary source of revenue for the IRA was Medicare savings, and instead of being used to help lower the costs of prescription drugs for enrollees, the funding was instead diverted to green energy subsidies.

In a column in the Wall Street Journal, “Why Is Medicare Saving Paying for Teslas?” Mark Merritt, an expert in the healthcare industry, noted that Medicare will keep only about 15% of overall savings for some relatively inexpensive benefits, while Medicare's costs are expected to expand considerably from costing about $1 trillion this year to a projected $1.8 trillion in 2031.

Merritt further noted that the typical buyer of a Tesla EV is half the age of a Medicare enrollee and makes about $150,000 per year, while enrollees earn less than $30,000 per year. Additionally, while the prospective buyer of a Tesla could enjoy up to $7500 in subsidies under the IRA, Medicare enrollees typically spend almost that amount, or about $6,500 per year, on out-of-pocket health costs alone.

Me not so blight

---

The US Department of the Treasury proudly announces that more taxpayer money is going up in smoke for EVs and Green Garbage:

Treasury Releases Initial Information on Electric Vehicle Tax Credit Under Newly Enacted Inflation Reduction Act

FACT SHEET: How the Inflation Reduction Act’s Tax Incentives Are Ensuring All Americans Benefit from the Growth of the Clean Energy Economy

---

Many seniors face a tough road ahead

Except one senior - unless justice is served…