Posted on 02/21/2009 5:36:16 PM PST by kristinn
Barack Hussein Obama will propose a massive business tax on greenhouse gases in his FY 2010 federal budget to be presented this week.
The massive tax increase and power grab was buried at the end on article on Obama's forthcoming budget proposal in The New York Times:
On energy policy, Mr. Obama’s budget will show new revenues by 2012 from his proposal to require companies to buy permits from the government for greenhouse gas emissions above a certain cap. The Congressional Budget Office estimates that the permits would raise up to $300 billion a year by 2020.
Since companies would pass their costs on to customers, Mr. Obama would have the government use most of the revenues for relief to families to offset higher utility bills and related expenses. The remaining revenues would cover his proposals for $15 billion a year in spending and tax incentives to develop alternative energy.
The proposal is in keeping with a policy announcement candidate Obama made in 2007, as reported then by The Times:
"No business will be allowed to emit any greenhouse gases for free," Mr. Obama said in Portsmouth, N.H. "Businesses don’t own the sky, the public does, and if we want them to stop polluting it, we have to put a price on all pollution."
Obama famously said in 2008 he would make American citizens' electricity rates skyrocket under his plan:
"What I've said is that we would put a cap-and-trade system in place that is more -- that is as aggressive if not more aggressive than anybody else's out there, so if somebody wants to build a coal-powered plant, they can, it's just that it will bankrupt them because they're going to be charged a huge sum for all that greenhouse gas that's being emitted.
"When I was asked earlier about the issue of coal, uh, you know, under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket.
Regardless of what I say about whether coal is good or bad, because I'm capping greenhouse gases, coal-powered plants, you know, natural gas, whatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money, they will pass that money on to consumers. If you can't persuade the American people that, yes, there's going to be some increase in electricity rates on the front end, but that over the long term because of combinations of more efficient energy usage and changing lightbulbs and more efficient appliances, but also technology improving how we can produce clean energy, that the economy will benefit. If we can't make that argument persuasively enough, you -- you can -- you can be Lyndon Johnson, you can be the master of Washington, you're not gonna get that done."
Obama, of course, has no intention of persuading the American people, he's going to ram his Marxist agenda up their tailpipes.
Does this amount exclude the companies that will be forced to go out of business due to this tax? Or will they need to raise taxes on the remaining companies to reach the $300 billion mark?
It would seem that it’s coming. doesn’t look good. We have an out of control tyrant. I wonder how many more states will file cases this week? It’s up to what? 23 now? Almost half.
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And the bastard has only been in for a MONTH.
I hope you are right. They will push flat out and it will be soon and fast. I hope we can get some cases to SCOTUS soon on the BC. He will destroy this country.
We also have to help get the Repub congressman in NY elected this coming month for Gillibrand’s seat. This will scare the blue dog Dems.
Next time you go assuring ALL that there's nothing to worrit our little heads, best you have your facts at hand. Obama is calling for a cap level only one fifth of what was produced in 1990.
You have nailed it, tax payers will pay the utility bills for his voters though programs already in place. Goggle Energy Assistance.
There are government agencies that have been in place since about 1979. They make payments to companies that sell electricity, natural gas, lp gas, fuel oil (perhaps even coal and wood as well).
Obama will raise taxes on business then give a portion or all of that money to his voters and they will think he is great for paying their bills with your money.
Obama's energy welfare is by no means a “carbon” tax that is spread across the ENTIRE population
I’m with you... I cannot believe our fellow American’s did this to us.
The stock chart says it all. When Hillary was out in May 2008 - the slide in the market started. Wall Street was not crazy about Hillary or even McCain but the market knew they were not a nightmare.
Since May 2008 it has been all downhill.
I doubt it, people are too in love with this man.... they think he walks on water.
DC politicians DO NOT represent their constituencies.
GOP is no better than socialists, they just introduce it more slowly while letting corporations go insane with greed.
The lousy job the GOP did when they had power is directly responsible for the KENYAN MARXIST and BOTOX FACED IMBECILE from San Francisco running the country today.
Need a few leaders to step up, Michael Steele is the same old thing with a different color.
The ONE GOP politician with the balls to call for the expulsion of that SOB Specter and those 2 stupid bitches from "Maine"(you know the state with .3% of the American population but whose senators routinely sabotage the efforts of the senators representing the other 99.7%) will be the one to look to.
the key, is to start out with a regulated industry ....
electricity,
because they can easily pass the costs on to their
hapless customers
watch out
“I fart in your general direction!” -Monty Python and the Holy Grail
The President will be wondering why there are huge protests this summer and a Republican Congress come January 2011.
quitcherbitchin..he’s givin you $13 a week in tax cuts../s (I wish)
Buyt he plans on giving “most of it” back to the consumer. </sarc> Yea, he’ll give it back, but you can guarantee that it will go to people mostly vote for ‘Rats. And we have 3 years and 11 more months of this bastard.
It’s more wealth redistribution. The only ones to get the offsets will be the members of ACORN....
It’s about getting as many people as possible on welfare and dependent on the government. If you aren’t now, he will tax you into poverty and you will be.
Obama's Fifth week in office
Barack Hussein Obama will propose a massive business tax on greenhouse gases in his FY 2010 federal budget to be presented this week. The massive tax increase and power grab was buried at the end on article on Obama's forthcoming budget proposal in The New York Times: (The whole list may viewed at my FR profile page)
So true, Hal.
FReepers are gonna wear out their keyboards! LOL!!
FRegards!
So what? They take in more Co2 during the day than they release at night.
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