Obama’s Global Warming Plan Cost Poor Americans $44 Billion, Raises Taxes By 166%

A study by the Manhattan Institute is claiming Obama's taxes on CO2 and oil will cause low end income people to be hit harder financially that high income people.

The study only focuses on price increases due to taxes and then sums up a comparison to income tax rates.

Makes sense the middle class and low income brackets will pay for the environmental "savings".

And maybe the actual reduction of CO2 will end up unaffected too.


Obama’s Global Warming Plan Cost Poor Americans $44 Billion, Raises Taxes By 166%

President Obama’s global warming plan would cost America’s poorest families billions annually, according to a report published Thursday by the Manhattan Institute.

The study estimates that Obama’s global warming plan would increase the costs of living for the poorest American families an additional $19 billion per year, equivalent to increasing their taxes by 166 percent. The tax increase would also raise taxes on other poor families by an extra $25 billion, equal to a 33 percent tax increase. Living costs for the richest households would only increase by 4 percent.

Obama wants to implement the Enviromental Protection Agency’s Clean Power Plan, which would effectively tax four-fifths of American carbon dioxide (CO2) emissions and be similar in scope to an economy-wide carbon tax. In addition, Obama has proposed a $10.25-per-barrel oil tax.

Hmmm.

Always pay twice to be sure you get your money's worth !!

a reply to: xuenchen
I cant take any more political BS today. My head is ready to explode after the absurd topics of threads the past few days.

I want to say WTF? shake my head, and start drinking again.

I pray for implosion of our government and a total reset.

It is the ONLY true hope we have left.

Other than providing another slush fund for politicians to dip their nasty fingers into that pays for crony non-profits and upstarts that fail after government money has been used to invest in their pie-in-the-sky endeavors and executive salaries, how exactly are all these new tax dollars on carbon emissions going to be spent?

From the article you posted:

Neither plan would have a large impact on global warming. Data modeling created by the EPA and run by the libertarian Cato Institute shows that the Clean Power Plan would only have adverted 0.019° Celsius of warming by the year 2100, an amount so small it couldn’t be detected.

Cannot wait for ATS environmentalists to commend Obama for this Earth saving legislation.

Then they will acknowledge that people are poorer, starving and die putting blood on their hands.

The results of a study like this was kind of a no brainer.
Any time you raise prices of every day use items like gas, energy and food the poor will suffer the most.

And people want Bernie in the White House to tax us some more on top of this.
When will they get tired of spending our money? Oh, wait...I forgot, it's everyone's money.

a reply to: xuenchen

Wow, just..........Wow, those numbers are stunning.

And, of course, as the article points out, this is the "Democrats" plan, so regardless of which one of them is in office, its probably going to get pushed through. Obama promised to and effectively did kill the coal industry. Now they'll target the oil and gas industry and do whatever else is necessary to make electricity as unaffordable as humanly possible.

I could go on discussing their other plans, but its really rather pointless. All we can do now is embrace the suffering.

a reply to: xuenchen

As far as I can tell this 'report' doesn't actually point to anything, just uses a bunch of words that get Conservatives all triggered.

a reply to: xuenchen

It seems like we have the blind leading the blind. Nobody can see the Big Picture, much less determine how their piecemeal policies can have detrimental effects on those that can least afford them.

We really need leaders that are more than politicians right now.....people that know what the hell to do and HOW to go about doing it.

OP, you're numbers aren't quite right. Costing poor people billions and having my taxes increase by 160%. LOL

If that happened we'd all go under, as in bankrupt, and all programs to get people off the street and out of poverty and to give them enough food and shelter to survive would be fatally overwhelmed. That won't happen.

originally posted by: Kali74
a reply to: xuenchen

As far as I can tell this 'report' doesn't actually point to anything, just uses a bunch of words that get Conservatives all triggered.

So that must mean you support ultra high energy prices that will clearly create a burden on people who can't afford higher prices?

I wonder what the politicians can do to prevent this ?

a reply to: amazing

Well what is going to happen?

a reply to: xuenchen

Going by that study, it amounts to $25 per month. In exchange for getting to use much more sustainable technology. Seems worth it.

a reply to: Aazadan

You should study this .....

Carbon Dioxide Capture from Existing Coal-Fired Power Plants

Ya that is what happens when we allow this idea that corps can socialize their losses, as in pass any tax on to the costumer but privatize the profits.

a reply to: xuenchen

I don't support ultra high energy prices and we aren't going to have them despite what that report tries to imply with it's number and word salad. The report states that Obama raises taxes on the poor to pay for CPP but does nothing to justify their claim. Facts matter?

Obama keeping his promise ....

Uploaded on Mar 18, 2009

Barack Obama: "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket." (January 2008)


www.youtube.com...

a reply to: Kali74

Maybe there's a report somewhere that proves prices will not go up?

a reply to: xuenchen

Burden of proof lies with the one making the claim.

originally posted by: Kali74
a reply to: xuenchen

Burden of proof lies with the one making the claim.

As I thought.

There is no such report or study !!



settled science