President Joe Biden says if you are cold and looking for some economic relief, then you just need to spend thousands on retrofitting your home with energy-efficient windows.
Oh, what’s that? You’re saying rent an apartment? Even if you are a homeowner, you’re saying you can barely afford groceries, let alone home upgrades?
Well, Biden doesn’t really care about those concerns. He signed the Inflation Reduction Act and one of the key ways you can save — according to the Democrats — is to take advantage of lucrative tax incentives that require you to spend big chunks of money in the name of climate change.
After bragging about a few different tax rebates offered, Biden told Americans, “If you’re living in a home with drafty windows and doors, starting January 1, you’ll be able to save up to $1,100 on the cost of replacing them. And that’s just on the upgrade.”
The president, the son of a used car salesman, went on to sound exactly like a used car salesman.
“And that’s not all,” he continued. “If you want to install solar panels on your roof, you can get a tax credit for 30 percent of the cost. It’ll bring down the cost of installation by about $7,500.”
How exactly will that help you in the long run?
“And when you get to keep saving money on your electric bills for the remainder of the year, it’s about $300 a year on average,” he noted.
As The Daily Wire has documented, Biden isn’t the only one in his administration constantly bragging about this great economic relief. His energy Secretary Jennifer Granholm is big on this stuff, too.
We’ve done it before, but let’s again estimate the costs of a few of the Biden administration’s suggested home “improvements”:
The average energy-efficient window pane costs anywhere from $325 to $1,110, according to Modernize, a home services website. That price range is per window — not for the entire home. Using those figures, on the lowest end of the spectrum, if you had four windows in your home, you’d need to spend at least $1,300 before any labor or delivery costs are even calculated into it. If you did that, you would get a $390 tax credit.
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Looking at Granholm’s home state of Michigan, the average solar-panel system costs roughly $16,020 — pre-federal incentives — according to Consumer Affairs. Again, with a 30% tax credit, you’d receive $4,806.00 back if you spent that kind of moolah.
So, if you’re somebody who lives in a four-window home and wants to purchase a basic solar-panel system and buy some efficient windows – you’ll need to spend $17,320 to “save” $5,196.00. Of course, four-window homes are hard to come by, and if they do exist, it is doubtful that their occupants can afford to spend that kind of money.
So, it is all nonsense. Spend thousands to save hundreds. But, first, you need to buy a home.
Thirty-five percent of Americans rent, many are bleeding through their savings and living paycheck-to-paycheck, and inflation is still sky-high.
But hey, Biden says “there’s a strong sense from all the leaders of the world of the strength of the American economy” — so we’ve got that going for us, which is nice.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.
Related: You Have To Be A Wealthy, Partially-Deaf, Green Energy Fanatic To Save Money In Biden’s America