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Posted on 03/06/2009 6:51:56 AM PST by reaganaut1
Jim Rogers is not happy with the Obama administration. Ever since the White House unveiled its costly climate program, the CEO of Duke Energy has been arguing the proposals amount to nothing more than a tax. Indeed.
Mr. Rogers belongs to the U.S. Climate Action Partnership, about 30 companies that decided to [cooperate on] global warming legislation. The group demanded a "cap-and-trade" system, figuring they'd craft the rules so as to obtain regulatory certainty, with little upfront cost. At the time, Mr. Rogers explained: "If you don't have a seat at the table, you'll wind up on the menu."
...
"People are learning," says William Kovacs, vice president of environment, technology and regulatory affairs at the U.S. Chamber of Commerce (which has been cautious about embracing a climate plan). "The Obama budget did more to help us consolidate and coalesce the business community than anything we could have done. It's opened eyes to the fact that this is about a social welfare transfer system, not about climate."
Truth is, any cap-and-trade system is a tax, even if Mr. Obama's plan has only started to force business proponents to admit it. The government sets a cap on how much greenhouse gas can be emitted annually. Companies buy and sell permits that allow them to emit. Customers bear the price of those permits.
But the political question was always how that first batch of permits would end up with companies. Corporate support rested on the belief they'd be "allocated," for free. [...]
It didn't take long for the pols to figure out they could auction off permits and spend the loot. President Obama's auction bonanza would earn the feds $650 billion in 10 years, according to the administration's budget estimate -- and that's a low, low, low estimate.
(Excerpt) Read more at online.wsj.com ...
At the time, Mr. Rogers explained: “If you don’t have a seat at the table, you’ll wind up on the menu.”
support Democrats and you are a useful idiot, elect democrats and you are always on the menu
cap and tax
or
opportunity tax.
IOW just for the PURSUIT of happiness (eg property and wealth) obama is going to create an entry tax.
Essentially a poll tax to freedom of speech because money is speech.
Oh great, my electricity comes from Duke Energy. In Indiana, it’s almost all generated from coal.. What is it with these high paid execs that turns their brians to mush?
Duke & GE (BOTH now in trouble with their much-touted “alternate energy suckup (er, plans) announced last year) are listed here as being disappointed with Obama’s energy plans?
If they were not able to see what socialism he was going to bring last year ....
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I do my "learning" before I cast my vote.
I am simply amazed that zero pulled this whole thing off. During the election he didn't even try to hide it (spread the wealth?).
The people that voted for him either had pie in their eyes, or stars, or were just blind. My silly sister-in-law sent me one of those barfy adulating emails about how we have to help elect the candidate of “peace and justice”. She means well, but she has no clue whatsoever.
With all due respect Mr. Rogers, after the political pigs eat every thing on the table, you will still end up on the menu.
He jumped a Great White . . er Great Black Shark. Serves him right for laying down with a shaitan.
I thought that was clearly obvious: the exact same thing that struck the tobacco companies!
Why should they care how much taxes on their product or service rises if all they need to do is collect it for the government, if their profits remain the same or increase?
It's not rocket science.
The legacy of Zero’s energy policy will be $7/gal gasoline and .50/Kwh electricity costs.
Obviously Gumbo here never read the fable of The Frog and the Scorpion.
Nope. Too bad for him.
They come from a corporate political environment that is politically correct in every way, and that translates into "go along to get along".
Their MBAs (Master Bulls**t Artist) degrees teach them this is the way to manage.
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