Solyndra: Tulsa’s George Kaiser on Obama’s Easy and Free Street

Tulsa, my hometown, is also home to George Kaiser. He and Ronald Pelosi, Nancy’s brother-in-law, are chums. Kaiser, a big Obama

George Kaiser

George Kaiser

bundler received $527 million from the Department of Energy (DOE) for the now defunct Solyndra, the solar panel company that went into start-up-mode knowing that China would undersell its panels by half the cost (because our government these days is cool like that). Kaiser was one of the few, and maybe the only one in history, capable of putting himself and his wallet before the taxpayers in the event bankruptcy came along, which it did in little more than months. There is new news today, but here’s some background first:

The story of Solyndra and Kaiser is so sick it will turn your stomach. He has a nasty habit of “taking advantage of the federal tax code in ways that some tax experts – including the IRS – believe to be illegal.”

As Allison describes it in his Sunlight post today, “in one six year period, during which he increased his net worth enough to land him on the Forbes list of the 400 wealthiest Americans, Kaiser reported taxable income to the Internal Revenue Service just once, totaling $11,699–equivalent to a full-time hourly wage of $5.62.”

Great cartoon by Glenn McCoy. Click the graphic for more

Great cartoon by Glenn McCoy. Click the graphic for more

He is a billionaire who paid $0.00 in federal income taxes for years. The George Kaiser Foundation donated only 2 percent of his $4 BILLION in assets to charity.

Did I mention that U.S. taxpayer HAVE TO PAY HIS LEGAL BILLS?

So to the new news today, speaking of BILLIONS, how many of them do you think Kaiser gained in federal tax credits from Solyndra? Read the story at Shaw’s Blog.

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