Tax Payers Pay Twice for Solyndra’s Financial Collapse

The Wall Street Journal reported in its Solyndra Memorial Tax Break article October 15 that one of President Obama’s 2008 billionaire campaign donors is trying to sidestep a federal tax bill amounting to hundreds of millions of dollars.

Under Solyndra’s bankruptcy plan, taxpayers will recoup $27 million at most on Obama’s $535 million in tax payer dollars lent to Solyndra in the government’s 2011 bailout effort.

Solyndra has formed two companies, Argonaut Ventures and Madrone Partners, as holding companies that won’t make products or employ workers, but will get the Solyndra tax offsets.