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Cap and trade, it is the good intention lie that ends up being a very large tax increase on the 95% that were being told they weren't going to have their taxes raised. It raises the cost of energy and thus unless you can prove you don't use energy, it is a tax on you.
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HumanEvents.com
Quote:
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.
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.
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1) What this is, of course, is a de facto business tax that will get passed along to workers and consumers. (Not to mention the impact on economic growth.) And not a small tax, at that. Over that same period, the White House expects regular corporate taxes to bring in some $3.8 trillion dollars. So the cap-and-trade auction impose an additional 20 percent tax or cost above that level. And remember that we already have the second highest corporate tax rate in the world.
2) Of that $80 billion, $15 billion would go toward "clean" energy investment. The rest would pay for his Making Work Pay tax credits. So what we have is, in essence, an enormous wealth transfer from job creators to consumers.
2) Of that $80 billion, $15 billion would go toward "clean" energy investment. The rest would pay for his Making Work Pay tax credits. So what we have is, in essence, an enormous wealth transfer from job creators to consumers.
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First, as Al Gore confessed to the Financial Times, going through the front door of a direct energy tax is too risky. Hence the cap-and-trade rationing scheme; its a tax but a non-transparent one, also making it vastly less efficient (more expensive) according to economists at, for example, the Congressional Budget Office. The message to lawmakers is to worry about one job: yours. Hide the tax. The part about also doubling the tax seems to be all Obamas idea.
Second, cap-and-trade shows that business has also learned how to sell its support in return for additional schemes to further pick your pocket, siphoning of some of the cost to themselves. Cap-and-trade provides them billions of your dollars in return for playing along
Second, cap-and-trade shows that business has also learned how to sell its support in return for additional schemes to further pick your pocket, siphoning of some of the cost to themselves. Cap-and-trade provides them billions of your dollars in return for playing along
Cap and trade, it is the good intention lie that ends up being a very large tax increase on the 95% that were being told they weren't going to have their taxes raised. It raises the cost of energy and thus unless you can prove you don't use energy, it is a tax on you.
"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell
"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell
