10-3-25 - 6am - Colorado EV Tax Credit

Episode Transcript

Speaker 1 (00:00):
Good morning for South Dakota.

Speaker 2 (00:01):
With all that's going on in the world today, the shutdown,
what's going on in the Middle East, the war in Ukraine,
the immigration issues. The one thing I'm most thankful for
is that I wake up at three o'clock in the
morning and go Pete instead of the other way around.
Everyone have a great day.

Speaker 1 (00:20):
Well, I guess that is that it's better to do
it in that order than do it in reverse order. Yeah, yeah, okay,
all right, old.

Speaker 3 (00:29):
Give it a few years and I'm sure that'll change.

Speaker 1 (00:31):
Yes, absolutely, And that's when you get the well it
depends depends. Is this is the way my life goes,
which is very pathetic. Yesterday, I am yesterday afternoon because
I had a dinner with a friend last night. I'm
downstairs sitting in my office perusing the news, local news,

(00:54):
because I'm trying to find a story to do the
Michael Brown Minute that plays over on Freedom to promote
the Ashley Syndic Weekend program, which, by the way, you
can listen to tomorrow on Freedom ninety three seven am, seven
sixty from ten to one Mountain time, or on the
podcast you know wherever your podcast used to be. You
know you can buy my book wherever books are sold,

(01:16):
and now you can listen to my podcast wherever podcasts
are delivered. And one of the places I normally go
first to check for a Michael Brown minute is the
Colorado Colorado Sun, and I go there primarily because you
can depend upon the Colorado Sun whatever the story is,
to have the left leaning view of it, or a
scared view of the story that misleads their readership. And

(01:43):
here's the headline that hit my that got my attention.
Colorado steps into federal gap with boosted cash for clunkers
ev incentives. Yay yay. First paragraph sums it up. Colorado
clean energy officials. That's a thing I just think about that.

(02:09):
You know we have clean energy officials. What are they
doing well. I've got another story about that, also from
the Colorado Sun, which we'll get to in a minute.
I'm going to roll with some state issues today because
wherever you're listening, don't think that this doesn't apply to you.
You just don't have a talk show host that is

(02:30):
pointing out Maybe you do. I hope that, I really
hope you that you do that is pointing out the
absurdity if you live in a blue state like we
do that. They do stupid stuff like this. Here's here.
You know, the leading paragraph should sum up if you're
a good reporter, good writer. The first paragraph should sum

(02:51):
up kind of what the story is about and entice
you to read further. The first paragraph of this story
says Colorado Clean Energy officials are boosting their cash for
Clunkers offer to nine thousand dollars for turning in an
old gasoline car and buying a new electric vehicle, up

(03:11):
from the previous six thousand dollars, in order to bolster
sales after a lucrative federal subsidy ended Tuesday, the end
of the physical year. Wait a minute, so we're going
to boost our tax state tax credit in order to

(03:35):
offset the loss of the federal tax credit, trying to
get people to buy electric vehicles which are sitting on
the lots unsold, because the marketplace, the invisible hand of
the market, has decided we don't want electric vehicles. We
certainly don't want them in the amount that you're trying

(03:56):
to sell them at, the amount and the dollar amount
you're trying to sell them at the price point you're
trying to sell them, and we don't want you know charging.
In fact, in fact, there was a story another story.
Let me just digress for one moment to show you
how I want because I want to get to the
I want you to understand the absurdity of all of this.
I get a notice from Excel Energy, our electric supplier,

(04:21):
about how they've changed the time of use rates, and
buried in the story about the time of use rates,
which is now, I mean the off peak period is
like twenty four hours a day other than from five
to nine pm. So outside that you're paying a lower

(04:44):
energy rate than the energy you use between five pm.
I think it's five pm and nine pm. So if
you're going to use your electric clothes dryer, are you
going to, you know, run the dishwasher or whatever it
might be that consumes electricity, do that outside the hours
of five to nine o'clock. But buried within that was

(05:09):
we're doing that so that it is more economical for
you to recharge your electric vehicle. Now, I did not
dig around to see how many electric vehicles are registered
in the state of Colorado, but that's what they care about. Now,
that's not the only reason they're doing I think they're
doing it primarily because there was a backlash against this.

(05:33):
They had an off peak period, a peak period, and
then a mid peak period, so they had three periods.
It was kind of convoluted, difficult to understand, and I
think the Public Utilities Commission and customers and everybody said, wait, wait,
simplify this. Nonetheless, they simplified it, but they tried to
rationalize it by saying, because that will be more effective

(05:55):
to charge your EV. And I thought, wow, that's a
reason to do it, because I don't know how many
EV's on the road. But whatever. Back to the Colorado Sun, which,
again that tangent was to show you that we still,
we still, for some reason, are embracing EV's. We're out

(06:16):
there hugging our EV's or your EV's because I don't
have one. You're hugging your EV as though that's somehow
going to save humanity. We'll get to it in a minute.
But the person who's going to save humanity is Pope Leo,
who blessed the chunk of ice yesterday. I don't even

(06:38):
get me started on that. We'll do that in a minute.
So back to the Colorado Sun. So the Colorado Sun
is trying to convince me that hey, this is great
news because Colorado has stepped up and they have increased
their state income tax credit that you will get if
you buy an EV. It's up from the previous six

(06:59):
thousand dollars to nine thousand dollars. Do you know what
a tax credit is? I mean, I don't. I'm not
trying to impugne your your intelligence here, but a tax
credit is a direct offset against any taxes ode to
the State of Colorado on your income tax return. So

(07:19):
when you finish your Colorado state income tax return and
you owe you know, fifteen thousand dollars, you can now
only pay the state six thousand dollars because there's now
nine thousand dollars tax credit that you can take against
those income taxes. It's a tax credit. The story says.

(07:41):
The federal EV tax credit of seven five hundred dollars,
taken off at the point of sales, was a victim
of the Summer's Big Beautiful Bill Act by Congress and
state and local officials and car dealers worried the cut
would slow Colorado's progress in transforming from a fossil fuel
fleet to cleaner transportation. Now that caught my The word

(08:04):
fleet caught my attention. Because are they worried about you
and me driving an internal combustion engine, or are they
doing this to somehow get the state vehicles and municipal
and you know, special district vehicles to convert to evs.

(08:25):
Because I don't refer to the cars that Dragon and
I own as a fleet. When I think of a fleet,
I think of a company has a fleet. We have
a fleet of vans in the back parking lot. None
of what you're ev that I know of, shame on us.
The state's three three thousand dollars addition to an existing

(08:47):
vehicle exchange program for income qualified buyers doesn't fill the
whole federal gap, but could make a difference for some
shoppers who missed the September thirty deadline. Then they go
on to site Will to or chief of the Colorado
Energy Office, quote, the federal tax credit has been ended
seven years prematurely by the Trump administration, and at a

(09:09):
time when we are seeing really significant consumer demand for
electric vehicles in Colorado. I didn't look that up, but
I questioned that. He goes on to quote, we thought
that it was important to step up and do what
we can as a state to really help keep that
momentum going and in particular to help make sure that
low and moderate income Colorados can continue to be able

(09:30):
to have access to electric vehicles. Oh yes, that's so very,
very important, The story continues. The expansion will be paid
for with money left in the Vehicle Exchange Fund for
fiscal year twenty twenty six. The exchange, launched in summer

(09:50):
of twenty twenty three, had twenty five twenty five point
six million dollars to operate over the first three years
from the Community Access Enterprise of the state budget. Hmmm,
what the crap is the Community Access Enterprise within the

(10:13):
state budget? Well, the next sentence, the fund accumulates specific
transportation fees. And to make sure you understand this, according
to the Colorada Sun, is not part of the state
general fund spending. Yeah, we're gonna we're gonna counter that

(10:37):
in just a minute. About two thousand, six hundred older
vehicles have been retired. They're at the old Car Home now, Yes,
they're in an assisted living for old cars. About two thousand,
six hundred older vehicles have been retired through the exchange
program so far. Okay, well that doesn't seem like a
lot lot, but whatever. Buyers must be turning in a

(11:01):
car twelve years or older, or one that's failed a
recent emissions test. If your car failed the air Care
air Quality emissions test, you've got a truly old clunker
that really ought to just be burned, just ought to
be taken out to somewhere and just smashed up. Environmental groups.
They write. Environmental groups like the exchange programs because they

(11:24):
take older, higher emitting gasoline engines off the road permanently
while also boosting the EV market. You know, government intervention
boosting a market, it's a fake market. Now. You can
also turn in an old vehicle to buy a used EV,
in which case the exchange in cent even November three,
goes from the existing four grand up to six grand.

(11:46):
The income qualification is pegged at eighty percent of the
area median income in the buyer's home county. The exchange
in cent can be layered on top of the still
in place state tax credit of thirty five hundred dollars
state tax credit a credit of thirty five hundred dollars
plus an extra twenty five hundred dollars from the state
if buying a new EV priced under thirty five thousand

(12:08):
dollars to recap. If you have a qualifying old car
and you're buying a new EV under thirty five thousand
dollars from November three through the rest of twenty twenty five,
your total state discount would be fifteen thousand dollars. Now,
Matthew Graves Groves, I'm sorry, Matthew Groves of the Colorado
Auto Dealers Association quote, We appreciate Colorad's continued commitment to

(12:33):
electric vehicles. The sales number of the last few years
show the consumer interest is stronger than mere tax credits. However,
as we face troubling economic times, programs like the Vehicle
Exchange or instrumental in turning that interest into reality for
everyday Colorado's that sounds like a bullcrap kind of statement
to me. Didn't really say anything, but you know, they
had to get a quote. And of course, the Colorado

(12:53):
Auto Dealers Association represents all auto dealers and the ones
that sell evs, and you know they so they represent Tesla,
but they also represent you know, General Motors or GM
or G or Stalentius or BMW or whatever, so you know,
people that sell all sorts of stuff. Now, of course

(13:14):
POLIS has to get on the story because you know,
you got to have a quote from the governor. By
increasing the vehicle exchange Colorado incentive, my team is helping
families or access and important opportunity to save money. This
is the right thing to do. With the federal government
abandoning support for clean energy. State leadership is more important

(13:35):
now than ever. The Colorado Community Access Enterprise Fund now
they say it's not part of the state budget. So
but does it impact the state budget? You may recall
that we had a one point five billion dollar deficit

(13:58):
that was so bad that Governor Polos had to call
a special session. All of the marksist show up at
the Polot Bureau this summer and they have a special
session and they fill the gap by taking away some
of you know, taking some more of your money, increasing
in some fees, and doing all sorts of stuff. However,

(14:19):
the structural deficit that exists within the Colorado annual state
budget has not been fixed. So stories that I found
in trying to understand where the Colorado Community Access Enterprise
Fund gets its money, which they keep emphasizing does not
come from a state budget. That budget deficit is structural,

(14:41):
as is expected to pop up again next legislative session
and will be eight hundred million dollars and is and
that will continue for the foreseeable future until these are
my words, until we quit spending money on the wrong things.
So back to the Colorado Community Access Enterprise Fund. That

(15:06):
fund has received approximately drum roll, please, three hundred and
ten million dollars over its first decade of operation. That's
a lot of money. Three hundred and ten million dollars.
In fact, that's almost half, about a third to a

(15:28):
half of the budget deficit that we're going to have
structurally in future fiscal years. So where do the where's
the Colorado Community Access Enterprise Fund get Their money? Is
funded primarily by the retail delivery fee. Yes, that's the

(15:51):
primary source of their funding, the retail delivery fee. So
that when you you know, have somebody deliver something from
the grocery restore from home depot, or you get an
Amazon delivery or get you know, or anytime you're ordering
anything and you see, you know, you when you get
ready to pay your bill, you thought you were going

(16:11):
to pay twenty nine to ninety five for some item
from Amazon, and then you see, oh, now I got
to pay state income. I gotta pay state sales tax
on that. Oh and then there's a delivery fee on
top of that, so you're actually paying like, you know,
thirty five bucks or something. Well, some of that money
from the delivery, that delivery fee itself is going to
the Colorado Community Access Enterprise Fund, and that's what they're

(16:35):
using to provide the state tax credit for you to
trade in your you know, this is this is a
cash for cluckers thing, right, This is a cash for cluckers.
So that's where you're gonna that's where the money comes
from for the state to provide you a tax credit

(16:55):
to replace the diminished and outright eliminated federal ev tax credit.
Let's think about this for a minute.

Speaker 3 (17:06):
Now.

Speaker 1 (17:06):
There are some other sources, some federal grants. So that's
taxpayer dollars private of public donations. I dug and I
dug and I dug trying because they have a dashboard.
The Colorado Community Access Enterprise Fund has a dashboard. But
I was trying to find, like, who gives a donation
a public donation on ColorADD Gives Day. Do you think

(17:28):
to yourself, Oh, you know what I could give to
some you know, children's fund to take care of children
to have, you know, handicaps, or you know they've had
a father killed in a war somewhere. No, no, I
think I'll give to the Coloroug Community Access Fund because well,
they got three hundred ten million dollars from the state
delivery as of its first decade. The expected revenue is

(17:49):
three hundred and ten million dollars, averaging roughly thirty one
million dollars per year. Now, let's think about where this
money goes.

Speaker 4 (17:58):
Hey, Mike, I can't tell you how absolutely angry I
am about that tax rebate increase. I don't know what
I can do. I want to get rid of that
governor of ours. I want to storm the capitol. I
know that's not the right thing to do, but.

Speaker 1 (18:15):
No, how do you do by yourself?

Speaker 4 (18:17):
Understand, that's money out of our pockets. I'm a blue
collar I can't afford the extra taxes. Every time he
thinks about something new.

Speaker 1 (18:26):
I'm not laughing at you, I'm laughing with you, and
you actually are laughing too, because the point of the
story is not to make anybody angry, is to show
you the absurd world that we live in and the
Colorado Sun as a Now, look, Colorado Son does not
have a wide circulation. It's it's an online newspaper. It's

(18:49):
all like you can get it delivered to your driveway
every morning, or the CHIE even would if you could.
But this is what liberals read, and this is what
liberals believe. And all I'm trying to do is point
out the absurdity of the claim that somehow this is
going to save the environment. Is it's going to sell

(19:13):
more evs, and then at the end of the day,
it's not going to cost the taxpayers anything, Well, bull crap.
If it's not costing the taxpayers anything, The only way
you can make a legitimate argument that it's not costing
the taxpayers anything is if you have such minimal income
that you don't pay any, say income tax to begin with,
and two that you're so destitute and poor that you

(19:36):
never order anything from Amazon or have anything deliveracy you
never pay the fee. If you're living and breathing in
Colorado and your IQ's above room temperature, and you've ever
ordered anything from Amazon, if anything's ever shown up other
than from the USPS that has shown up on your
front porch, from FedEx or DHLU or ups or anybody else,

(20:00):
you've paid a delivery fee.

Speaker 3 (20:02):
That's increased over the past few years too, but from
twenty six to day.

Speaker 1 (20:06):
We will get to that in a minute.

Speaker 3 (20:07):
Okay, do you mind if I jump to the.

Speaker 1 (20:12):
No, you might while I catch my breath. You certainly so.

Speaker 3 (20:15):
You were reading the article and something that caught my
ear us it does. Yeah, I just had to dive
into it too and figure out, Oh, this sounds kind.

Speaker 1 (20:23):
Of before you say anything, Yeah, let me just say this.
As I was printing out and doing my research for
the stupid give Me Access whatever it is Enterprise mound,
I thought, as I go through the story today, there
are things that I did not I caught my eye too,
and I thought, yeah, but I'll just do the story
and somebody will.

Speaker 3 (20:44):
Jump in and go somebody will say.

Speaker 1 (20:45):
Something that's right. Sure enough, here you are.

Speaker 3 (20:50):
The exchange incentive can be layered on top of the
still in place tax credit of thirty five hundred plus
an extra twenty five hundred from the state if buying
a new EV priced priced under thirty five grand. Yes,
so that got me thinking. I was like, huh, I
wonder how many new evs out there are under thirty

(21:14):
five grand.

Speaker 1 (21:15):
Of course you did So according.

Speaker 3 (21:17):
To cars dot com in an article that was posted
just last month, so this is new and accurate information,
there are four, a total of four evs priced under
thirty five hundred dollars.

Speaker 1 (21:32):
Okay, and of those four, what is priced at what?

Speaker 3 (21:36):
Thirty four nine ninety five.

Speaker 1 (21:38):
So if you wanted, like, oh, I don't know, steering wheels,
it goes over thirty five miles, power windows, oh, you
want seat belts with that? And now thirty grand.

Speaker 3 (21:50):
Just to look at what vehicles these are, the Nissan
Leaf Whoom that looks like a great car, the Fiat
five hundred little lady bug driving down to you yep ye.
Now there is also the Honda Hondai Kona had no idea,
and the Chevy Equinox.

Speaker 1 (22:09):
I think I think I may have may have seemed equinox.

Speaker 3 (22:12):
I don't really know either of those cars, but there
I would have liked to think. They're hopefully not as
dorky as the Nisshan lead for the Fiat five hundred.

Speaker 1 (22:21):
Now, just to further the and again to the talk back,
you're more than welcome to go storm the capitol on
your own. In fact, if you do, be sure and
get one of those handheld selfie sticks and show us
as you storm the capitol and bang on the door
and let us know how that goes for you. The
purpose of this is not to make you angry. The
purpose of this story is to make you realize how

(22:44):
stupid things are and how the liberals, the lefties that
swarm around among us really are. They're true believers, they
believe in this crap. So let's go back to the
to the stupid Colorado Community Access Enterprise Fund. Doesn't that

(23:04):
sound wonderful? The Colorado Community Access Enterprise Fund. Oh my
heart just flutters when I think about that. This was
started to Senate Bill twenty one two sixty back in
twenty twenty one. Formal implementation began in twenty twenty two.

(23:24):
Projected ten year budget three hundred and ten million dollars.
Expenditures from this fund are dedicated to supporting the transition
to EV's and related infrastructure. The categories they can spend
this money on are the following. Grants and rebates for residents, businesses,
local governments. Oh, so they're going to eat the state

(23:45):
is actually going to reimburse local government in that special
and industry partners whatever the crap that means to offset
EV purchase costs. Funding for EV charging infrastructure statewide, including
public workplace, multifamily fast charging clauses, and infrastructure in low
income and disproportionately impacting communities. Oh, it's a DEI program

(24:09):
in that fantastic support for electric alternatives like e bikes,
electric scooters, including incentives and rebased targeting pollutant heavy vehicle
replacement grants for medium and heavy duty electric vehicle charging
such as buses and refrigerated trailers, refers, and operational costs
including board expenses, consulting. Oh there we go. I bet

(24:34):
there's a lot of money going to consultants, administrations, salaries,
salaries and bonuses, technical assistance, whatever the crap. That means,
Oh we need to hire, we need some engineers. Look
at this and public engagement as mandated by law. Oh
so you pay to get propagandized by the Community Access enterprise.

(25:01):
It's all just so fantastic. It's just also wonderful. Now
they're required by law to maintain a public facing dashboard
to track the program's status, the funding allocations, the project
progress and all the total expenditures by category. Now project
details and status by fiscal year, Location, and equity classification,

(25:21):
which is the way they described it, are available via
periodic dashboard updates. In other words, we can't update this
thing every day. We just we're going to do it
every once in a while periodically. Spending is overseen by
a board comprised of four government governor appointed members, with

(25:42):
representation required for disproportionately impacted communities. So we're going to
get a poor, uneducated individual to serve on this board. Wow,
I bet they really are heavy contributors to the intellectual
discussion about how we should be spending this money. Industry professionals,
So the people that are benefiting from this are on

(26:04):
the board too. And sustainability advocates. You know where they
go to get that. They go to twenty third and
Main Street, where the Church of the Climate activists have
their big church and their big temple, and they go
there and they pluck some people out of that congregation
and they get to serve on the board too. So
the very people that are pushing this bull crap on
us get to be on the board. Oh this is

(26:27):
I'm telling you, this has got me so excited, I'm
about to pee my pants. I ask several AI platforms
to analyze and give me the most in depth breakdown available.
These are the main expenditure categories today, the HICGEL grants
and EV rebate programs, Infrastructure deployment for public, workplace and

(26:49):
multifamily charging, fast charging corridors and sendings for replacing high
booting vehicles, Equity focus programs for law income and impact
burden communities. EV alternaty promotions. Those are the E bike
and e ST scooter incentives, medium and heavy duty EV

(27:10):
support for fleets, buses and trailers, and of course year
administrat even operational expenses such as staff, all the consultants,
the board, tossing communications. So then I said, well that's
not good enough. I want you to get more granular.
I want you to get I want you to tell
me spending for example, you know by year my category.
And of course they had a hard time doing it.

(27:34):
In its first fiscal year, the CAE, the Community Access
Enterprise Fund, funded the Vehicle Exchange Colorado program. They issued
more than thirteen hundred rebates with a total budget of
five point seven million. As of June thirty of last year,
sixty eight percent of those rebates were redeemed. The budget

(27:58):
for this program was expanded by nine million dollars last
August twenty four, I'm sorry August twenty four, making total
funding about fourteen and a half million for the first
two years of operation. They're expected to distribute about three
hundred ten million dollars oorth of first decade since its
inception in twenty twenty one, supporting all these stupid, dumbass
programs that I just described for you. But then I

(28:23):
ask several AI platforms dig deeper. I want you to
dig deeper. Here are the results that I get compiled
in my terms, in my language. Specific annual breakdowns of
tax credit equivalent payouts are not publicly detailed, but seem
to be embedded in the broader rebate programs funded by

(28:47):
CAAE the Community Access Enterprise Fund. In other words, all
the four artificial intelligence platforms I asked to research and
dig into that and find me the numbers. Couldn't find
the numbers. What are you hiding, c AE. What are
you hiding? That's what I'd like to know. Now the
the couda gross of this entire story. Well that's next. Hey, Michael,

(29:14):
we run the conas out at the airport. If you
want to come over to Eve us and try a
ConA out.

Speaker 3 (29:19):
That'd be great.

Speaker 1 (29:20):
See then bye? Can I drive it up and down
one of the runways? Can I can I chase a
Dreamliner you know, taking off? Can I can I do that?
Your chat blast would just drive fly the ConA off
into the air.

Speaker 3 (29:36):
Yeah, but you're not a delta flight, so you're not
gonna hit anybody. So it's fine.

Speaker 1 (29:39):
Oh that's true. That's true. I will come out and
do that. We'll come out and try a ConA. All right.
Now here's here's the coudah gross about this story. The
most recent Colorado budget deficit was about one point two
billion dollars for fiscal year twenty five to twenty six.
The budget hole was large was caused to be fair

(30:01):
by a reduction of state revenue following the passage of
the One Big Beautiful Bill, which cut Colorado's income and
corporate tax revenue by about one point two billion dollars. Now,
during the special session August, the Pullit Bureau members took
action to include tax adjustments and some spending cuts to

(30:23):
address roughly seven hundred and fifty to eight hundred million
dollars of that one point two billion dollars gap. Poll
assigned executive orders, cutting an additional two hundred and fifty
two million from the budget to help close the gap.
But despite those actions, the state still faces a structural
deficit forecasted to be nearly eight hundred and fifty million

(30:44):
dollars for the next fiscal year starting next July. First,
that structural deficit is due to ongoing higher costing government
programs like medicaid education, coupled with all the statutory spending
growth limits that are tied to the TABER tax Payer
Bill of Rights, which means they'll be attacking TABER. But

(31:05):
why not attack this? And here's why we face a
structural budget deficit. The Colvado Sun wants you to believe
that this is great, that these rebates and these incentives
and these tax credits are good for Colorado. What they
never tell you anywhere in the story is that every

(31:28):
single tax credit is money that is foregone from collection
by the State of Colorado. So if I get a
tax credit, and let's say I get a full just
let's say I get a full three thousand, five hundred
dollars tax credit in my tax bracket, that means I

(31:49):
probably don't pay three thousand, five hundred dollars in income
tax to the state of Colorado. That's money that is
lost gone, and where did it go to support something
that people don't want to buy? That they have to
provide incentives to try to get people to buy a
product that the people don't want, and in the course

(32:10):
of doing so, further impacts the state budget. But you
will not find that anywhere in the Colorado Sun article.
Why because they want you to believe that the fee
that you pay pays for everything without ever stopping and
thinking that, oh, the fee goes to fund a tax credit,
and the tax credit means that's money that is not

(32:34):
paid in in income taxes. When you fill out your
Colorado form, whatever the form number is, do you see
how stupid this stuff is? Do you see how absolutely
outrageous it is? Now? Maybe again, the purpose was not
to make you mad. The purpose was to make you
to help you understand that all of this bull crap

(32:57):
that they keep shoving down our throats about climate or
EVS or everything else, or anytime they talk about, hey,
we got an INCENTI for you. That's why I get
pissed off when I see somebody driving an ev not
because I cared that you drive an EV but because
I subsidized it, and because it added to our budget deficit,

(33:20):
because you didn't pay any questions, so you didn't pay
any but you paid less state income tax because it
is a tax credit. You know, if we didn't have
such a stupid education program, teenagers might be understanding that,
let alone adults