CAP AND TRADE LARGEST TAX IN HISTORY...don't let it happen here!
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Thread: CAP AND TRADE LARGEST TAX IN HISTORY...don't let it happen here!

  1. #1
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    Exclamation CAP AND TRADE LARGEST TAX IN HISTORY...don't let it happen here!

    House Speaker Nancy Pelosi has put cap-and-trade legislation on a forced march through the House, and the bill may get a full vote as early as Friday. It looks as if the Democrats will have to destroy the discipline of economics to get it done.
    The Cap and Tax Fiction - WSJ.com
    Despite House Energy and Commerce Chairman Henry Waxman's many payoffs to Members, rural and Blue Dog Democrats remain wary of voting for a bill that will impose crushing costs on their home-district businesses and consumers. The leadership's solution to this problem is to simply claim the bill defies the laws of economics.

    Their gambit got a boost this week, when the Congressional Budget Office did an analysis of what has come to be known as the Waxman-Markey bill. According to the CBO, the climate legislation would cost the average household only $175 a year by 2020. Edward Markey, Mr. Waxman's co-author, instantly set to crowing that the cost of upending the entire energy economy would be no more than a postage stamp a day for the average household. Amazing. A closer look at the CBO analysis finds that it contains so many caveats as to render it useless.


    Associated Press

    Henry Waxman
    For starters, the CBO estimate is a one-year snapshot of taxes that will extend to infinity. Under a cap-and-trade system, government sets a cap on the total amount of carbon that can be emitted nationally; companies then buy or sell permits to emit CO2. The cap gets cranked down over time to reduce total carbon emissions.

    To get support for his bill, Mr. Waxman was forced to water down the cap in early years to please rural Democrats, and then severely ratchet it up in later years to please liberal Democrats. The CBO's analysis looks solely at the year 2020, before most of the tough restrictions kick in. As the cap is tightened and companies are stripped of initial opportunities to "offset" their emissions, the price of permits will skyrocket beyond the CBO estimate of $28 per ton of carbon. The corporate costs of buying these expensive permits will be passed to consumers.

    The biggest doozy in the CBO analysis was its extraordinary decision to look only at the day-to-day costs of operating a trading program, rather than the wider consequences energy restriction would have on the economy. The CBO acknowledges this in a footnote: "The resource cost does not indicate the potential decrease in gross domestic product (GDP) that could result from the cap."

    The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.

    When the Heritage Foundation did its analysis of Waxman-Markey, it broadly compared the economy with and without the carbon tax. Under this more comprehensive scenario, it found Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 for a family of four. As the bill's restrictions kick in, that number rises to $6,800 for a family of four by 2035.

    Note also that the CBO analysis is an average for the country as a whole. It doesn't take into account the fact that certain regions and populations will be more severely hit than others -- manufacturing states more than service states; coal producing states more than states that rely on hydro or natural gas. Low-income Americans, who devote more of their disposable income to energy, have more to lose than high-income families.

    Even as Democrats have promised that this cap-and-trade legislation won't pinch wallets, behind the scenes they've acknowledged the energy price tsunami that is coming. During the brief few days in which the bill was debated in the House Energy Committee, Republicans offered three amendments: one to suspend the program if gas hit $5 a gallon; one to suspend the program if electricity prices rose 10% over 2009; and one to suspend the program if unemployment rates hit 15%. Democrats defeated all of them.

    The reality is that cost estimates for climate legislation are as unreliable as the models predicting climate change. What comes out of the computer is a function of what politicians type in. A better indicator might be what other countries are already experiencing. Britain's Taxpayer Alliance estimates the average family there is paying nearly $1,300 a year in green taxes for carbon-cutting programs in effect only a few years.

    Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can't repeal that reality.
    FESTUS
    IN OMNIA PARATUS

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  3. #2
    It looks as if the Democrats will have to destroy the discipline of economics to get it done.

    That should be no problem. Thery are well on the way to destroying everything else with Obama the head of the destruction crew.
    By faith Noah,being warned of God of things not seen as yet, moved with fear,prepared an ark to the saving of his house;by the which he condemned the world,and became heir of the righteousness which is by faith Heb.11:7

  4. #3
    I emalied my Florida and Texas Rep's... my message included below... PLEASE email your Rep's too, let your thoughts about this matter be heard in Washington!

    I'm writing regarding the cap-and-trade legislation (known as Waxman-Markey) that is currently being forced through the House by Speaker Pelosi. Cap-and-trade is a bad piece of legislation for the United States. There have already been 33 Senators who on March 12 voiced their concern regarding this legislation and rejected the idea of forcing a speedy approval.

    The whole point of cap-and-trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created (or higher unemployment). Some companies will instead move their operations overseas, with the same result.

    The US economy and unemployment numbers are bad enough under the weight of this current administration’s bad decisions without adding a destructive piece of legislation like cap-and-trade to make matters worse. The Heritage Foundation did an analysis of Waxman-Markey, broadly comparing the economy with and without the carbon tax. Under this more comprehensive scenario, it found Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 per year for a family of four. As the bill's restrictions kick in, that number rises to $6,800 per year for a family of four by 2035.

    AMERICANS DO NOT NEED ANY MORE TAXES!

    The proponents of this misguided legislation claim these figures generated by the Heritage analysis are too high. The CBO has even suggested lower estimates based on an incomplete data and unrealistic variables. The reality is that cost estimates for climate legislation are as unreliable as the models predicting climate change. What comes out of the computer is a function of what is typed in and who is interpreting the data. A better indicator might be what other countries are already experiencing. Britain's Taxpayer Alliance estimates the average family there is paying nearly $1,300 a year in green taxes for carbon-cutting programs in effect only a few years.

    Please protect Americans from increased taxes! Please say no to legislation built on bad science! Please fight the destructive tendencies of some in American leadership who seemingly won’t be satisfied until the US economy is dead and lifeless.

    I strongly urge you to REJECT cap-and-trade (Waxman-Markey).
    Blessed be my God, my mountain, who trains me to fight fair and well! Psalm 144 (msg)
    ...follow me at twitter.com/matthewaynelson

  5. More Congressional Crap

    It's the highest tax hike in history. VOTE is TOMORROW.

    Call one of these numbers tonight or tomorrow a.m. if you can (they are completely overloaded right now):

    Capitol Switchboard: 202 225 3121

    White House Switchboard 202 456 1414

    White House Comment Line 202 456 1111


    Tell them what you think of this... as if they care.
    Last edited by DebS; 06-25-2009 at 08:31 PM. Reason: Added info.

  6. It Passed

    Just passed the House: 219 - 212.

    Pelosi offered Dove Bars to anyone who would come to her office and talk to her about it before the vote.

    It's a 300 page document that Congress received last night.

    Now, on to the Senate.

  7. #6
    It's still not over - that 300+ page doc is amendments to the 1300-page bill, and the Republicans are making sure that the entire amendment package is gone over thoroughly before any final vote is taken.
    -= Piece Corps =-

  8. #7
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    Quote Originally Posted by Piece Corps View Post
    It's still not over - that 300+ page doc is amendments to the 1300-page bill, and the Republicans are making sure that the entire amendment package is gone over thoroughly before any final vote is taken.
    I only hope there are enough republicans whit a spine to stop this very BAD bill from becoming law.

  9. #8
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    Too Late

    Just another feather in the cap for the Socialist agenda, when this administration gets done with the USA I don’t think we will even recognize it.

    Obama, and old Nancy has a big smile on their faces today.

    The Final Roll Call vote results. 219 Ayes and 212 Noes (8 Republicans voted Aye)

    http://clerk.house.gov/evs/2009/roll477.xml

    I did see my district Democrat Congressman Charlie Wilson voted “Nay” , I am going to email and Thank him. I know he will be shocked, mostly I send him complains about his voting record, but I do want him to know we do pay attention to our representatives voting record.

    Please, everyone should check out how your representative voted and let them know how you feel.

    Find your Representative.

    Member Web Site Listing (by State) - United States House of Representatives, 111th Congress, 1st Session

  10. #9
    Turn the heat up on your Senators !!
    USMC, NRA, SCI, B&C (Micah 6:8)
    I do not carry a gun for any other reason other than to give me options that I would not have without a gun in a life-threatening circumstance.

  11. #10
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    My email to Rep. Charlie Wilson

    I am going to send a copy to my Senate Reps.


    Good Morning Charlie

    I must say I am very proud of you today. I checked the voting record on the Cap and Trade bill that passed in Congress, and I see you voted with the "Noes" Thank You

    No matter what President Obama says when he proclaims this bill is going to punish those that pollute the environment, we all know that the so called punishment will only be passed on to the consumer.

    In this ailing economy the last thing we need is another hurtle to be thrown in front of industry and business.

    The claim that new jobs will be formed, building windmill, and solar panels is great, but what happens to the coal miners in both strip and mine operations, oil rig operators, truck drivers, tug boat operators, power plant operators, ships crewman that transport oil and coal, and the heating fuel delivery drivers.

    Also what about the millions and millions of dollars the EPA just mandated that the power plants spend to update their facilities to stop carbon admissions that is already being passed on to the consumers?

    I do believe this administrations goal is to completely collapse our economy, and turn this great Country into a Socialist Country dependant on the Government, your vote on Cap and Trade proves to me that their goal is not your goal.

    Thank You
    Chuck White

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