Beam me to Planet Gore !
Posted on 06/24/2009 7:25:24 AM PDT by yoe
Cap and trade is the tax that dare not speak its name, and Democrats are hoping in particular that no one notices who would pay for their climate ambitions. With President Obama depending on vast new carbon revenues in his budget and Congress promising a bill by May, perhaps Americans would like to know the deeply unequal ways that climate costs would be distributed across regions and income groups.
Politicians love cap and trade because they can claim to be taxing "polluters," not workers. Hardly. Once the government creates a scarce new commodity -- in this case the right to emit carbon -- and then mandates that businesses buy it, the costs would inevitably be passed on to all consumers in the form of higher prices. Stating the obvious, Peter Orszag -- now Mr. Obama's budget director -- told Congress last year that "Those price increases are essential to the success of a cap-and-trade program."
Hit hardest would be the "95% of working families" Mr. Obama keeps mentioning, usually omitting that his no-new-taxes pledge comes with the caveat "unless you use energy." Putting a price on carbon is regressive by definition because poor and middle-income households spend more of their paychecks on things like gas to drive to work, groceries or home heating.
The Congressional Budget Office -- Mr. Orszag's former roost -- estimates that the price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year. That's about $680, not including the costs of reduced employment and output. The three middle quintiles would see their paychecks cut between $880 and $1,500, or 2.9% to 2.7% of income. The rich would pay 1.7%. …
(Excerpt) Read more at online.wsj.com ...
Obama's Cap & Trade hurts the little man also kills jobs across the board....his Health Care Reform does the same. This is the Make-Jobs president but all he has done is trample the free market so government can take over, losing jobs for millions. WAKE UP AMERICA!
Bank on this: Obama will never allow a tax on all people. Those who pay no taxes will continue to pay no taxes because tax credits will be extended to cover any additional cost to them. This is a huge transfer of wealth from the private to the obama sector, but make no mistake, the community of illiterates will not pay a share.
Insanity !
America seems to be in a coma ...
on life support ...
they will pull the plug soon. JMO
Father, please help us in our day. Amen.
Furthermore, this community will vote en banc for the Democrats because of the checks tossed its way marked "United States Government."
This powerful voting block will be rousted every polling season from its slobbering torpor by ACORN, or its reincarnation, courtesy of the tax paying working class, i.e., the credit serfs.
I doubt that any member of congress has even read the bill they are about to pass.
michellemalkinThe climate change e-mails EPA doesn’t want you to see: http://bit.ly/PsNPm | Do your congressional reps know?
You are aware that Nanzi had a closed meeting and is planning on bringing this to a vote on Friday....Here ar numbers to call ASAP.
TAKE ACTION Capitol Switchboard: 202-224-3121
Tole free capital switchboard number are below.
800-828-0498
877-762-8762
List of all congressmen here and their individual phone numbers
http://clerk.house.gov/member_info/mcapdir.html
George Lakoff calls this ‘cap and dividend’.
It IS another ‘redistribution’ scheme. Make no mistake about it.
Businesses that will have to pay will raise their prices on their products/services. The ‘productive’ always pay!
Right now the Government Dependency Index is 60%. (That means 40% of the workers support the 60% that depend on government to sustain them.)
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