Let’s call cap and trade what it really is, a massive energy tax on every U.S. citizen.
Congress is considering legislation that has the potential to raise your energy bills significantly, along with the price of just about everything you buy.
Estimates on how much the 900-page Waxman-Markey Cap and Trade National Energy Tax legislation could cost vary, but estimates range between $750 and $3,100 per family per year. Washington typically low balls the cost of things, thinking they can get them into law before Americans know the true cost. This bill includes budget gimmicks hiding the full cost.
The plan is for the federal government to limit carbon emissions. The government will auction carbon emission permits to energy producers, refineries and factories (usually through speculators) so they can emit more carbon. Many credits are also given away to special-interest groups. The cost will then be passed onto consumers. The president’s budget included $646 billion in “cap and trade” revenue.
The idea is to purposely increase the cost of energy from fossil fuels like natural gas, coal or petroleum, about 85 percent of electricity produced. The price of everything you buy will go up, even food, because there will be a hidden national energy tax built into the price of everything.
One leading Democrat senator told the Washington Post: “This is the greatest revenue generating (tax) proposal of our time.” In other words, it’s all about taking more money away from everyday Americans so politicians can spend your money on politician’s favorite programs . . .
So, based on this article, that means there would be a tax on the American consumers equivalent to TARP that would repeat every year and likely increase.
Probably the most cynical bill since the Alien and Sedition Acts. It is unreal that Congress may pass this . . . I guess not a lot of people care. By the way, did you hear that Perez Hilton got in another fight and some politicians had affairs? Now that’s news.
