WILLisms.com: Trivia Tidbit of the Day: Part 693 -- Cap & Trade A Massive New Tax On People Making Under $250,000.

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Trivia Tidbit of the Day: Part 693 -- Cap & Trade A Massive New Tax On People Making Under $250,000.

Obama Breaking More Promises-

Obama moved the goalposts a couple of times during the campaign, but he said that he would cut taxes for people making under certain levels-- sometimes it was $250,000, sometimes it was lower.

Cap and trade is a major energy tax, and it will harm average middle-class families, not just big mean oil companies:

...consumer prices for electricity, natural gas, and home heating oil increase significantly between 2015 and 2035. Indeed, by 2035, the total energy bill for a family of four is $1,200 higher than it would be otherwise. Between 2012 and 2035, the total increase in expenditure on energy is nearly $20,000. This increase occurs not only after adjusting for inflation, but also after households have adjusted as well as possible to the higher energy prices.

While I am sure certain industries and certain corporations and small businesses would find a way to cope and even flourish under this convoluted scheme, these ideas would take their toll on energy-producing states like Texas. I don't think it is unreasonable to assume that cap and trade would accelerate the move of a lot of American industry overseas.

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Previous Trivia Tidbit: Obama's Decline.

Posted by Will Franklin · 9 November 2009 09:16 AM

Comments

It's not unreasonable. Companies will pass their increased operating costs on to consumers and/or move jobs overseas. Either way, it will hit Americans hard in the form of increased energy costs and lost jobs. Write your Senators at http://tiny.cc/w6KSt and voice opposition to cap and trade legislation.

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