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What did Mr. Obama say? He said...
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"No American making under $250,000 per year will have a tax increase of any form!" "...any form!"
So now the Victoria Electric Coop has mailed out letters warning of a $100 increase in electricity bills if "cap and trade" passes. Hmmm! Well, it passed! So when do we get this new Obama tax?
Oh and then there's the new tax on all of those buying used cars! Yup, the "cash for clunkers" scam which is robbing from our grandchildren will cause those of us only able to afford used vehickles to pay much more! And it's costing some $8,000 per vehickle to administer this scam! A new Obama tax on us and more debt for our grandchildren!
"Will 'cash for clunkers' tank the used car market? Jim Brown - OneNewsNow - 8/13/2009 6:00:00 AMAn analyst at a conservative think tank in Washington, DC, predicts the "cash for clunkers" program will distort the used car market and harm small business owners.
Now that Congress has approved an additional $2 billion for the cash for clunkers program, the government expects up to 750,000 used cars will be scrapped in exchange for new ones. Some analysts are warning the program will have a detrimental effect on the used car market and low- to middle-income families who buy those vehicles.
Nick Loris, an energy and environment researcher at The Heritage Foundation, calls it a basic issue of supply and demand.
"Because the clunkers have to be destroyed, the program would distort the used car market by reducing the supply and then forcing the prices to increase," he explains. "And to make matters worse, this really affects small business owners the most, because a lot of the clunkers being traded in are used trucks that small business owners will usually pick up -- but they can't afford to buy new ones, even after the $4,500 rebate."
Loris says since the clunkers program has created a glut of new car sales, when the program ends there may be a bursting of the auto industry bubble, much like the recent housing bust."
Anyone who takes advantage of this scam is robbing from his grandchildern and is a thief!
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Global warming is real and the cost of doing nothing is beyond comprehension.
August 14, 2009 at 11:30 a.m.KS and Scrub this is from the WSJ:
http://online.wsj.com/article/SB12458...
An accurate estimate of the cost seems to be impossible. One thing is certain to be effective and actually reduce carbon emissions it has to cause some pain.
Politicians hate pain therefore cap and tax will have no effect on carbon emissions - Europe has been doing it for several years and it has had little effect. But it is a good way to collect revenue because of it's inherent stealth, smoke and mirrors.
August 14, 2009 at 10:18 a.m.The Cap and Trade Bill is an ENERGY TAX and will affect the price of all goods and services. The most obvious is the cost of electricity and fuel (gasoline and diesel).
August 14, 2009 at 8:30 a.m.Scrubber, from the Wall Street Journal.
August 13, 2009 at 10:52 p.m.rollinstone- Where are you getting the $1500 to $2500 figure?
August 13, 2009 at 10:38 p.m.Oh, there is one more thing, that's kind of confusing (really?). Obama's budget shows about 80 billion dollars a year in revenue starting in 2012 from climate taxes (aka crap and tax).
There are about 140 million income tax filers so that comes out to be about $570 per household. But they will tell you that most of this will be paid by corporations, etc - yeah right!!!
August 13, 2009 at 10:35 p.m.The CBO estimate of $175 per household per year was for the year 2020 as stated. It is also a year before the heavy restrictions kick in. After the restrictions kick in the cost per household will be anywhere from $1500 to $2500 per household.
In addition this did not factor in the reduction in GDP and the loss of jobs to China and elsewhere - I guess we don't need no stinking jobs anyway. Oops I forgot Nancy Pelosi is going to create some jobs for us - we are going to need a *@##load of bureaucrats.
August 13, 2009 at 10:22 p.m.From the Congressional Budget Office.....
"The CBO estimates the net annual economywide cost of the cap-and-trade program in 2020 would be $22 billion...or about $175 per household."
That's annual, not monthly....and in the year 2020.
August 13, 2009 at 9:20 p.m.It's a carbon tax, or could be. I know these blogs can be spin zones, but gee whiz.
August 13, 2009 at 9:11 p.m.Kenneth
Just to be clear this is what he actually said.
During the 2008 presidential campaign, Obama said over and over that the middle class -- which he defined as anyone making less than $250,000 -- would not face any tax increase.
"If you make under $250,000, you will not see your taxes increased by a single dime. Not your income tax. Not your payroll tax. Not your capital gains tax. No tax," he said at a campaign event in 2008….Income tax!
http://www.cnn.com/2009/POLITICS/08/0...
An increase in a utility bill would be the action of the utility company..True, cause and effect may come into play but that is a big yard stick. You could call a penalty for not having health insurance (company or employee) a tax, I suppose….You could call repealing the Bush tax cuts a tax increase (which they are going to do) I suppose.
OK,thanks for allowing me my say...:-)
August 13, 2009 at 5:07 p.m.Kenneth ,it barely passed the house with a the very minimum of 218 votes...The senate has not debated or voted on the Cap-in-Trade bill and since Health Care Reform will take up most of September and October,I doubt it will come up this year or voted on...I doubt it will pass ,too many Democrats from coal burning states.
August 13, 2009 at 4:45 p.m.