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Cap and Trade - the tax that will hit, and hurt, all of us

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posted on Mar, 1 2009 @ 06:00 PM
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The proposed carbon emissions taxes being touted by the Obama administration are another step in making America a socialistic economic system. They propose to create a huge energy bureaucracy under the control of the federal gov't which will impose a 'cap and trade' system of allocating carbon credits to industry ( their cap) and allowing them to barter them with other segments of industry (the trade). The cap will be ratcheted down every year, making it more expensive to do business.

The latest budget proposed by Obama in fact counts on revenues from this new system!


WASHINGTON (Reuters) - President Barack Obama's budget includes hundreds of billions of dollars in revenues from a greenhouse gas emissions trading system, an administration official said on Wednesday.

The revenues from the system would be spread out over many years starting in 2012, the official said.

Obama wants to help fight climate change by capping emissions of greenhouse gases such as carbon dioxide, or CO2, from big industries and allowing them to trade rights to pollute. Such systems are commonly called "cap and trade."
uk.reuters.com...


Don't be fooled into thinking this is just a tax on evil corporations.
It will affect everyone that uses electricity, or buys products made by expending energy. As demands to cut back on fossil fuel consumption increases, supply will decrease, and prices will rise. Expect everything from that plastic Pepsi bottle to your electric bill to be more expensive. It is a regressive tax in that it will hurt people with lower incomes harder.

I say it brings us closer to socialism because it in effect puts the energy industry under gov't control. It meets the definition.




posted on Mar, 1 2009 @ 06:45 PM
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reply to post by jsobecky
 


Good post and I agree with you, I think it will also cost jobs, although government jobs will be created. What a joke how can we destroy industrie and grow government

I wonder when we will reach the proverbail straw.



posted on Mar, 1 2009 @ 07:10 PM
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reply to post by frankdatank
 


You are correct about the job losses. According to the Heritage Foundation:


Lost Jobs

The net job losses from S. 2191 are estimated by Charles River Associates to be 1.2 million to 2.3 million by 2015.[9] Some of these jobs will be lost for good, due to the impact of higher energy costs on economic activity. Others, chiefly in the manufacturing sector, will be sent overseas. In the very likely event that S. 2191 significantly raises domestic manufacturing costs and that developing nations refuse to impose similar restrictions, the American economy could experience a substantial outsourcing of manufacturing jobs to those nations with lower energy costs.

www.heritage.org...



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