Taypayer Handouts and Ripoffs

Your Money for ‘Green’ Schools

April 23, 2010

William La Jeunesse - A large chunk of your state income taxes goes to education, and schools benefit from a portion of your local property taxes, too.

Now the federal government is considering a big increase in its spending on school construction -- with your money.

Already, as federal taxpayers, we pay $70 billion a year for K-12 education, much of itgoing to teacher salaries and school lunches.

Then last year, Congress approved another $56 billion for school construction, renovation and repairs via the economic stimulus bill.

But now Congress is considering another bill -- the 21st Century Green High-Performing Public School Facilities Act -- sponsored by Rep. Ben Chandler, D-Ky., and 25 other Democrats. They say it would create a "healthier, safer and more energy-efficient teaching environment by requiring schools to use green materials."

Some studies, however, say "green" schools are notoriously over budget and consistenly fail to save the energy they promise.

The House has passed the bill, and it now is under consideration in the Senate. The Congressional Budget Office's estimate puts the 5-year cost of the bill at $32.9 billion.

What do you think? You can estimate how much the bill would cost you over those five years by using FoxNews.com's latest tax calculator.

CLICK HERE FOR FOXNEWS.COM TAX CALCULATOR

For example, people who earn under $15,000 a year would pay an average of $1.41 to fund the bill. Those making $30,000 to $50,000 would average $53 over five years. And the average for people making $100,000 to $200,000 is $406.

Satirical Flashback: $700 Billion Bailout Celebrated with Lavish $800 Billion Executive Party

December 16, 2008

The Onion - Amid the bleak backdrop of imminent economic collapse, worried observers got some good news last October when executives from the nation's top 10 failing companies celebrated the historic $700 billion government bailout with an ultra- extravagant $800 billion party aimed at restoring confidence and bolstering their resolve.

"It's never ideal for private corporations to rely on public funding, but we would not have been able to survive another week without letting loose and throwing this massive bash," Merrill Lynch CEO John Thain said aboard his newly purchased $22 million yacht, the Excelsior. "We can only hope it's not a case of too little too late."

Three thousand guests were reportedly flown on 750 separate private jets to the Caribbean, where they commemorated the last-minute financial aid package—which saved their companies from the subprime mortgage crisis that has left thousands of Americans without homes—with 4-tons of Beluga caviar, $250,000 bottles of vintage Dom Pérignon served over precious gems, a 36-hour fireworks display, an additional loan of $200 billion to cover the costs of the gala, and a private concert for each attendee with rock legend Rod Stewart.

Held October 4–7 on all three of the Cayman Islands, the historic economic-stimulus celebration, spokespeople said, sent an important signal to the world that Wall Street was weathering the crisis in style.

"I'm glad we were all humble enough to recognize that we couldn't do this on our own," said AIG CEO Edward Liddy, sitting in a hot tub filled with Cristal and seven dozen endangered-quail eggs.

"Having come so close to disaster, it is crucial that I eat these 24-karat-gold-leaf-wrapped chocolate truffles to boost stockholder morale and show all the critics and naysayers that we are carrying on just as we always have."

"Do not worry, America," Liddy added. "It's business as usual at AIG."

In a sign of the new era of financial responsibility ushered in by the bailout, the CEOs estimated that they came in a full $100 billion under the party's projected $900 billion budget—a windfall they immediately reinvested in their companies' ailing executive-Christmas-bonus divisions.

FACTBOX: Key Events in the 'Lame Duck' Presidency of George W. Bush

September 7, 2008
The U.S. government places Fannie Mae and Freddie Mac under its control to prevent the institutions from going under and endangering more than half of the country’s mortgages.

October 3, 2008
At the onset of financial crisis, President Bush signs a $700 billion bailout plan for failing bank assets, the largest in U.S. history.

November 25, 2008
The Treasury Department and the Federal Reserve agree to provide another $800 billion in lending programs to buy debt insured by Fannie Mae and Freddie Mac and to provide more small loans to consumers.

December 16, 2008
Federal Reserve cuts interest rates to an all-time low of zero percent, down from 1 percent and 0.25 percent earlier in the year as part of a plan to stimulate the economy.

December 19, 2008
President Bush issues a $17.4-billion auto bailout to General Motors and Chrysler to keep the two American automotive giants from going bankrupt.

SOURCE: Miller Center of Public Affairs, University of Virginia