Dem's Cap & Trade Bill Is $3.6 Trillion Gas Tax Too
Posted by Jim Hoft on Tuesday, October 27, 2009, 12:09 PM
Here is my latest column at American Issues Project:
Dem’s Cap and Trade Bill Is a 3.6 Trillion Dollar Gas Tax Too
Democrats know their cap and trade energy legislation will cripple the US economy. Barack Obama admitted this on the campaign trail in 2008 saying the program “would cause energy prices to skyrocket.” Obama also promised an audience of supporters that cap and trade would bankrupt the coal industry. White House Budget Director Peter Orszag told George Stephanopoulos in a March 2009 interview that Obama’s proposed cap and trade energy legislation would increase energy costs for everyone. Democratic Congressman John Dingell (D-MI) summed up cap and trade at a Congressional hearing on April 24th saying, “It’s a Great Big Tax.”
Cap and trade policies will likely cost Americans $700 to $1,400 dollars per family per year. The Department of Energy estimated GDP losses would be between $444 billion and $1.308 trillion over the 21-year period. Cap and trade also could cost the US 4 million jobs.
But that’s not all. Cap and trade would also mean a massive new national gas tax on American families and American business. Cap and trade legislation will drive up the prices of gasoline, diesel and jet fuel. Higher fuel costs will feel like a new gas tax that will hit consumers at every income level, in every state, in every field of transportation and manufacturing.
Senators Kit Bond (R-MO) and Kay Bailey Hutchison (R-TX) released a report this week on the massive new national gas tax on American families and businesses as a result of the Waxman-Markey cap and trade legislation…
You can read the rest on the democrat’s $3.6 trillion gas tax here. There is also a list of my recent columns on this page.
The US Senate starts deliberating on the democrat’s junk science tax today in committee.
UPDATE: Sarah Palin wrote about America’s energy future today and asked, “Petroleum is a major part of America’s energy picture. Shall we get it here or abroad?”
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Published May 23, 2012 at 4:57 am - 64 Comments
bg commented:
++
will we ever learn??
will these past several months of ObaMarxism finally wake US up to the crap & trap games those who supposedly represent “we the people” in a
Democratic Congress play??
“you ain’t seen nothin’ yet!” B Hussein O
==
Todd Roth commented:
I can only assume that the Democrat Administration wants to destroy our economy. During the aftermath, the government then will be justified in imposing draconian rules, suspending what little is left of constitutional protections. Logical, yes?
Jean commented:
OT…This was in my email from my local Tea Party:
The Health Reform legislation is moving fast, Reid and Pelosi do not believe the polls about most Americans do NOT want a government run program with or without the public “option”. I’ve emailed Senator Reid and Speaker Pelosi, the below comment. You are free to copy and paste if you desire.
http://reid.senate.gov/contact/index.cfm
http://www.speaker.gov/contact
“Here is a poll from two Americans, I am totally against a Government run Health Care Program.
A few simple reforms could do a lot to bring down costs instead of the Government taking over 18% of our economy, such as:
-Medical liability reform.
-Let families and businesses buy insurance across state lines, provide real choice and competition to lower the cost of health insurance.
-Access to coverage, regardless of preexisting conditions.
-Individuals, small businesses and other groups should be able to join together to get health insurance at lower prices, the same way large businesses and labor unions do.
-Offer incentives for wellness care and prevention.”
Jean commented:
Sorry the 2nd link to Nancy Pelosi does not work but Harry Reid’s link works
web hosting in india commented:
Definitely some simple reforms could do a lot to chance a thing.
Joanne commented:
http://www.youtube.com/watch?v=VebOTc-7shU&feature=player_embedded
This is a must see movie – don’t miss it – the Fall of the Republic. Everything makes a lot of sense when you realize what is going on.
Algore commented:
Sign the Petition @ http://www.M4GW.com
wanumba commented:
Devastating.
The Democrats Cap and Trade:
The New Dark Ages!
aprilnovember811 commented:
Sounds like it’s all going to plan.
olm commented:
It is all going according to plan. The planners have got to be giddy that is has been so easy.
I can live on one tank of gas per month but this will grind the economy to a standstill.
Standstill.
Do you think Obama supporters understand this, because I am positive that they do not.
wanumba commented:
Oh, and for a bit of historical perspective:
When the Barbarians overran the once well-defended, then almost abandoned frontier of the Roman Empire, the “Roman Peace” that Europe had enjoyed for 300 years was destroyed. Villages, towns, cities, libraries, societal records of ownership, citizenship, theatres, the arts, education all trashed, people slaughtered or scattered, farms overrun, trades decimated, much of it for no purpose of war, just wrecked for the pleasure of just smashing. Like the fire of the great library of Alexandria, Egypt, no one knows the totality of what was lost to the world in that distruction.
It took CENTURIES characterized by war, deprivation, disruption and disfunction, to recover: the “Dark Ages.”
When the Democrats finish evicerating America, will they open the gates of the nation to a conquerer? Our prosperity has been the key to our manitaining a strong military. No one can defeat our military on the battlefield, but what army can stand and fight for long when provided with nothing?
gus commented:
Obama is a strong military leader. Trust him.
Sasja commented:
I suppose the dependent class of this nation don’t worry about paying their utility bills because they think there will be enough money in ‘Obama’s stash’ to take care of it for them. There are going to be some long, dark, cold nights for those folks if this gets passed. I, too, can do with a tankful of gas a month.
And you can make book that it will cost much more to the American family than the projected $700 to $1,400 a year.
Bill Mitchell commented:
CNN has just released a new poll showing HUGE MAJORITY SUPPORT for cap and trade. 60% to 37%.
If you find yourself saying, WTF?!, you are not alone. CNN does not tell us the party affiliation of their sample or anything else about the poll. just the one question.
Amazing how we have all of these HUGE swings in favor of liberal positions right before the votes, isn’t it?
P.S., This is the same CNN that gave Democrats a 27 point sampling advatange in a recent poll. They are beyond pathetic.
Bill Mitchell commented:
It’s almost as if the Democrats WANT to be obliterated in the 2010 elections. Unless they have some some of scam fix in, they are going to lose at least 70 seats.
Jean commented:
Next Tuesday should be the start of doom and gloom for the Democrats.
What’s so funny about it is they can’t blame Bush but I’m sure they will find away to do it.
gus commented:
Until this pretend HEALTH INSURANCE reform kabuki dance is over, Commie in Chief Opie, is not going to make a decision on Afghanistan.
He’s that weak.
jomojava commented:
They will ram cap-and-destroy through Congress at their own peril.
bg commented:
++
re: Joanne @1:14 pm #7
i’m believing it more & more.. as i’ve been saying for months now.. Obama
was chosen to be the “transitionalist”, there seems to be no other rationale
to explain the enigma that is Obama..
posted the following in a previous thread..
they are “organizing” a Global UN Force..
“citizens in uniform”
[The armed forces, therefore, according to the decree issued by Chávez last July 22nd, in the practice will be responsible for enforcing by means of arms the failed socialist constitutional reform. To that end, in order to dilute the country into its militia-like organization, will "prepare and organize the people for integral defense." In addition, it will "forge alliances or coalitions with the armed forces of foreign countries." The ongoing military revolution will have not borders. At the end, there is one single purpose -retired military officer Chávez Frías will boast his five-sun insignia appropriate for his new rank of commander in chief, awarded by himself, and not by the grace of God.]
Obama’s ‘Civilian Security Force’
[Advocates of limited government are concerned about comments by Sen. Barack Obama (D-Ill.) regarding his national service plans and views on the "burden of global citizenship."]
Senator Obama, Citizen of the World
[European socialists and Middle Eastern Muslims are wildly enthusiastic about Senator Obama, because he styles himself a citizen of the world who, like all liberal- progressive- socialists, aims for world government.
American liberal- progressive- socialism, in the person of Senator Obama, is a carbon copy of European socialism, and Islamic jihadists recognize that socialism offers no opposition to their ruthless jihad to enslave the entire world.
For historical perspective, let's look to one of France's leading socialist theoreticians, the late Jean- François Revel. As I wrote at the time of M. Revel's death in May, 2006:
Jean- François Revel, who died last week at the age of 82, was that exceedingly rare person: a French intellectual who didn't despise the United States, an intellectual who understood the cancerous prognosis of liberalism.
Revel's 1983 "How Democracies Perish" described liberalism's debilitating effect on confronting the threat of domination by the Soviet Union. His observations apply equally today in our long-term struggle against Islamic jihad.]
RTWT!!
btw: this did not happen overnight, the plans were drawn up years ago, ergo, they found a leader to bring it to fruition, his name is B Hussein O..
==
LilyBart commented:
“junk science tax” excellent name for this travesty.
Joanne commented:
Honestly, many people here seem resigned to the fact that Obama is going to push through whatever he wants, and the American people are just going to have to suck it up. It’s time to organize and come up with plans and solutions. A mustard seed is small, but it growes into a large plant, and so can a grassroots movement to take back America.
bg commented:
++
Joanne @ 4:45 pm #22
the only solution “we the people” have come up
with is “Tea Party” & Becks 9/12.. not enough!!
if anyone breaks the bank on this impostor it seems as if our destiny lies
on GB’s shoulders.. how pathetic is that, one man against the machine..
where are “we the people”??
here’s hoping & praying we EXPLODE before
it comes down to US blood letting.. *sigh*
God i miss Bush, the last American President!!
==
Anonymous commented:
The idea of giving control over all businesses in the nation to Congress is so screwy that one has to assume that the supporters want the nation to collapse or that they are simply too ignorant and foolish to realize what they are doing. So if one should never blame on malice when stupidity is an option…
The leaders on the other hand should be publicly shunned as fascists for these suggestions.
Guess Who commented:
This is silly. It’s $3.6 trillion over the next 35 years, and that assumes accelerating growth in future years. The actual cost in 2015 is less than $50 billion or maybe $100-150 per person per year. Not chump change but not nearly as bad as the screaming headline number.
wanumba commented:
It’s $3.6 trillion over the next 35 years, and that assumes accelerating growth in future years.
………………………
With the American Middle Class evicerated, any prediction of future years “accelerating growth” is either based on ignorance or deception.
And since every single statement about this power grab has been proven to be an outright lie, then “deception” is the answer.
Guess Who commented:
With the American Middle Class evicerated, any prediction of future years “accelerating growth” is either based on ignorance or deception.
And since every single statement about this power grab has been proven to be an outright lie, then “deception” is the answer.
I agree, the report by Senators Kit Bond (R-MO) and Kay Bailey Hutchison (R-TX) is deceptive, as is the post by Gateway Pundit Jim Hoft. Thank you.
Stephen commented:
This is older news, from early 2008, but it has a lot of merit here in that it points to NASA knowingly adjusting the temperature records to make it seem ‘indisputable’ that there is a very large and profound warming and cover up the tempurature decrease since 1998. Some info from the article:
“Two authorities provide us with analysis of long-term surface temperature trends. Both agree on the global temperature trend until 1998, at which time a sharp divergence occurred. The UK Meteorological Office’s Hadley Center for Climate Studies Had-Crut data shows worldwide temperatures declining since 1998. According to Hadley’s data, the earth is not much warmer now than it was than it was in 1878 or 1941.
By contrast, NASA data shows worldwide temperatures increasing at a record pace – and nearly a full degree warmer than 1880.
NASA has been reworking recent temperatures upwards and older temperatures downwards – which creates a greater slope and the appearance of warming. Canadian statistician Steve McIntyre has been tracking the changes closely on his Climate Audit site, and reports that NASA is Rewriting History, Time and Time Again. The recent changes can be seen by comparing the NASA 1999 and 2007 US temperature graphs.
Particularly troubling are the years from 1986-1998. In the 2007 version of the graph, the 1986 data was adjusted upwards by 0.4 degrees relative to the 1999 graph. In fact, every year except one from 1986-1998 was adjusted upwards, by an average of 0.2 degrees. If someone wanted to present a case for a lot of recent warming, adjusting data upwards would be an excellent way to do it.”
http://www.theregister.co.uk/2008/05/02/a_tale_of_two_thermometers/
One can bet that Obama and the hard left are using the revised data, claiming it to be legit as opposed to ‘skewed skeptic data’ that ‘stands in the way of the change we need.’ However the mere fact that NASA would knowingly double the observed global temperature increase, to completely through science out the window and simply spew worthless rot for financial reasons is truly troubling. They have transformed from the data gatherers–from whom others have developed these….’theories’–to willing accomplices providing skewed data that makes those ‘theories’ seem to be in line with reality.
NASA has reverted to being an organ in the propaganda machine, much like the ‘experts’ in Hitler’s Germany or Stalin’s Russia.
Stephen commented:
“and that assumes accelerating growth in future years.”
It’s easier to predict the weather 5 years from now than it is to predict the economy. Assuming something economically 35 years down the road is beyond insane. At least the meteorologists who aren’t pseudo-intellectuals can use long-term cycles to give vague forecasts with regard to temperature and participation levels.
“The actual cost in 2015 is less than $50 billion or maybe $100-150 per person per year”
Actually your wrong. Their math is pathetic. Dividing $3,600,000,000,000.00 by 35 years gets you a figure of roughly 102,857,000,000.00 per year. Now divide that by 1,050.00 and you get a figure of 97,959,000 families. Given that there are 310,000,000 or so people in the US, dividing the population by the average cost gives you $331.80 per person, over twice what you say. Now I strongly believe that the cost would be at least double the ‘average’ I used in that calculation, perhaps even closer to triple or around $3,200.00 per family or $1,000.00 per person.
Guess Who commented:
It’s easier to predict the weather 5 years from now than it is to predict the economy. Assuming something economically 35 years down the road is beyond insane.
To be clear, I don’t know whether they are projecting economic growth–I didn’t read the whole thing. What they are projecting is growth in effective fuel taxes, based on fuel expenditures, which I am guessing is based primarily on population growth, which is actually fairly predictable. My point is that it’s not linear, it’s exponential, which would make sense if it’s based on population growth.
Their math is pathetic. Dividing $3,600,000,000,000.00 by 35 years gets you a figure of roughly 102,857,000,000.00 per year.
Yes, but it’s not a flat amount per year. It starts out much smaller than that and grows as the population grows.
Now divide that by 1,050.00 and you get a figure of 97,959,000 families.
What? Can you please explain why dividing annual tax revenues by 1,050 gives you the number of families?
Given that there are 310,000,000 or so people in the US, dividing the population by the average cost gives you $331.80 per person, over twice what you say.
No, because as I said the annual cost starts out at less than $50 billion. Just look at the chart in the actual report.
danny commented:
its time america took back what obama took away, we need new leadership and we need it fast. businesses are hurting the worst now because of his packages that he calls helping money lol. cash for clunkers closed up several repair shops and dealerships because of him