posted on Jul, 7 2009 @ 05:03 PM
I received a letter today from my Representative in the House. He told me that despite his displease with the Bill, the Cap-and-Tax Bill was passed in
the House of Representatives on June 26. The letter was a good three pages long. Ill spare you some of the mundane stuff and just quote the hard
hitting figures and facts that are associated with the Bill that are present in the letter. BTW, I live in 5th District of Ohio and my Congressman is
Robert E. Latta.
"...Cap-and-Tax is the largest national energy tax in the history of our nation. This tax will increase the cost of electricity, home heating oil,
gasoline, diesel, coal, and natural gas in an effort to force you to use other more expensive forms of energy..."
"...Warren Buffet, considered a close friend to the President, declared this legislation, 'a huge tax and there's no sense in calling it anything
else. I mean it's a huge tax and it's a fairly regressive tax. Very poor people are going to pay a lot more money for electricity.' In addition,
Obama himself said in a meeting with the Editorial Board at the San Francisco Chronicle in January, 2008 that 'under my plan of a cap and trade
system electricity rates would necessarily skyrocket...that will cost money.' Areas that will be hit hardest are the ones the are very
energy-intensive. These include manufacturing, farming, construction, plastics, and retail trade. These industries are northwest and north central
Ohio's main sources of employment."
"...Cap-and-tax is designed to increase the price of 85% of the new energy we use here in America. Under the new bill electricity rates are projected
to rise anywhere from 80-90 percent. The job loss is projected at 2.5 million, while reducing aggregate GDP by $9.6 trillion. Projected personal
income loss for the constituents of the Fifth District in Ohio will be $382.39 million by 2012..."
"...with unemployment rates already above ten percent throughout the district and every county in Ohio with an unemployment rate above 15% lying
within the Fifth District, this legislation will place even further strains on families..."
"...farm income is expected to drop $8 billion in 2012, $25 billion in 2024, and over $50 billion in 2035. These are decreases of 28, 60, and 94
"The burden of cap-and-tax legislation is not evenly distributed throughout the country. States such as Ohio and the rest of the midwest that rely
heavily on manufacturing and coal generation will be hit the hardest with severe job loss and severe GDP losses. Cap-and-tax will be a pure transfer
of wealth from agriculture and manufacturing America to the East and West coasts. Manufacturing jobs produce more revenue for a state than any other
job. Gasoline and diesel fuel prices alone are projected to rise between 55-75 percent. This legislation looks to assess a heavy penalty on Canadian
oil which would make it more expensive than oil in the Middle East. Since the U.S.'s largest importer of oil is Canada, this will continue to be a
troubling affect on reducing our dependency on Middle Eastern oil."
"...according to Paul Cicio, the CEO of Industrial Energy Consumers of America, the high price of natural gas has significantly contributed to the
loss of more than 3,000,000 manufacturing jobs in the U.S. since 2000. Cap-and-tax will significantly drive up the cost of our natural gas because
companies will use it as a substitute of coal for electricity. Meanwhile, Ohio relies on coal for 86% of its energy and is one the the nation's top
generators and importers of electricity. Two-fifths of our energy consumption in Ohio comes from the industrial manufacturing sector, so you can see
how significantly destructive this legislation will be."