Posted on 07/09/2009 2:07:50 PM PDT by bestintxas
The EPA Is Wrong
False Assumptions: Proponents of cap and trade point to the low cost estimates by the EPA and CBO as a reason to pass Waxman-Markey. The EPA underestimates that the bill would cost households an additional $140 a year. Based on Consumption: The EPA's numbers are based on consumption changes, which are typically less than income changes, as families respond to income losses by saving less. Uses Discounting: Discounting is a reasonable approach for comparing costs and benefits that occur at widely different times. However, costs of climate change rarely use a discounted rate this high. Without discounting, the impact per household is $1,288 in 2050. Adjusting household size to reflect a family of four raises this cost to over $1,900. Assumes Rebates: The EPA assumes all the allowance proceeds will be rebated directly to consumers. This clearly isn't the case, since most of the allowances have been promised to industry. No New Taxes?The loss that the EPA calculates doesn't include the cost of the energy tax to consumers, since the EPA assumes that all of the money is rebated. The cost of the energy tax is actually $4,600 per family of four in 2035.
(Excerpt) Read more at heritage.org ...
If the govt says it will spend the money so it is not tax revenue, they will one day say there will never be taxes and take everything.
The 0bama administration is doing everything possible to re-define “tax” so that it can deny ever raising or collecting taxes.
Those “Carbon Credits” will become the most sought after and expensive items on the trading floor. Any business man wanting to expand his product line will have to bid for credits to do so on the open market. He will be bidding against the largest corporations in the world who will naturally be able to pay more. The price of the credits and hence the price of everything will skyrocket. Its a beautiful scheme to create a monopoly environment for certain businesses and make a ton of money for the brokers who handle the contracts. Guess who will pay??? Madoff was an amateur compared to these hucksters.
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