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Posts Tagged ‘Great Depression’

DOE Proposes 27 “Energy Efficiency” Penalties

Chinese, Japanese, Korean firms accused of not certifying compliance with U.S. efficiency or conservation rules.

by on Sep.13, 2010

DOE has been severely criticized for its lack of enforcement of U.S. regulations.

The Department of Energy today announced 27 new proposed penalties against companies selling products in the United States without certifying that they comply with energy efficiency or water conservation standards.

The legally required certifications are said to ensure that products sold in the U.S. deliver significant energy and cost savings to buyers. Prior to the Obama Administration, the Department had never systematically enforced DOE’s 35-year-old energy efficiency standards. Lax enforcement of energy efficiency standards undermines the goal of increased energy efficiency – now clearly a national security issue.

There are other implications as well. While not directly automotive industry related, today’s enforcement actions – coming on top of a newly activist Department of Transportation in automotive safety matters and the  U.S. Trade Representatives’ duties on Chinese tire imports, among other well-publicized examples –  are the latest indications that an industrial policy of sorts to protect manufacturing jobs is underway across the Obama Administration.

The U.S. is alone among industrial nations – either communist run or elected democracies – to lack formal policies to protect U.S. jobs, now a contentious mid-term election year issue with record high unemployment levels not seen since the Great Depression.

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IRS Cuts Mileage Deductibility Rate.

Raising taxes during the Great Recession is latest political and economic gaff out of an "out of touch" Washington.

by on Dec.04, 2009

While the Obama administration was blaming businesses yesterday for what is in our view an understandable lack of hiring as the Great Recession drags on, the Internal Revenue Service made things worse by cutting the tax deductible mileage rates for firms.

Wathing Your Wallet!

Watching Your Wallet!

In effect, this is a tax increase for all those businesses that are struggling to stay afloat during the worst economic climate since the Great Depression. Is it really that hard to figure out why there is no hiring underway?

Beginning on January 1, 2010, the new standard mileage rates for the use of a car, van, pickup or panel truck will be:

  • 50 cents per mile for business miles driven
  • 16.5 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The new rates for business, medical and moving purposes are lower than last year’s by roughly ten percent. The mileage rates for 2010 reflect, according to the IRS, “generally lower transportation costs compared to a year ago.”

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