October 05, 2009
The Obama administration just blew the whistle on . . . itself: The Treasury Department has reported that Team Obama’s claims about the “nominal” costs of its cap-and-trade bill aren’t really so nominal, after all.
And Team Obama knew it all along.
Nice. In one fell swoop, the Obama folks broke two separate campaign promises:
* No new taxes on anyone making less than $250,000 a year.
* Complete transparency in the legislative process.
How exactly did it break these vows?
Look at the Treasury report.
The report shows that the cap and-trade bill the White House is pushing in Congress — in which companies have to buy “allowances” for carbon emissions — is far more expensive for Americans than advertised.
Sure, everyone knew the firms would pass these costs along to customers. But supporters of the bill claimed that consumers would face only “nominal” increases — barely $200 a year.
Wrong. The Treasury analysis puts the actual nationwide cost of cap-and-trade at some $200 billion a year — or $1,761 per household. That figure is very close to the $1,870 amount estimated by the Heritage Foundation prior to the vote in the House.
Families will be hit with a steep climate-change tax, after all. And that will certainly include working- and middle-class folks who make less than $250,000 a year.
Second, the analysis was kept secret and only recently leaked. That directly violates President Obama’s vows of transparency.
Even so, the bill barely passed in the House, 219-212, with 40 Democrats voting against it. It’s facing difficulty in the Senate, too: Ten Dems there urged that it be dumped in favor of a carbon tariff. (This is called compromise, Democratic-style: Instead of a job-killing cap-and-trade tax, they settle for a job-killing import tax.)
This bill needs to die in the Senate.
More troubling, though, is the wholesale breaking of Obama’s vows.
After all, this is only his first year in office.
Wild Thing's comment........
More spending, more taxes, more power over all of us.
Brace yourself for another round of obama TV appearances with this one too.
Posted by Wild Thing at October 5, 2009 06:40 AM
I imagine they will also figure in a tax on outdoor grilling. A barbecue tax. That won't go here in Texas.
In all seriousness, this cap and trade will put almost every aspect of both individual and business life under the control of the Federal govt. Almost everything we do will be taxed. Much of that taxation will be hidden. It will appear in the form of inflation.
obama's promises hold as much water as a net. He is out for the total control of Americans by the government.
Posted by: TomR at October 5, 2009 03:10 PM
Our POS congressman Scott Murphy (D-NY) voted for this. I got no response from Gillibrand and a non answer from Schumer.
Posted by: Bob A at October 5, 2009 06:26 PM
Tom, LOL they really might do that it is
crazy enough. good one.
Your right they want this so much.
"Almost everything we do will be taxed"
Posted by: Wild Thing at October 6, 2009 12:13 AM
Bob A., same here I feel the same way.
Posted by: Wild Thing at October 6, 2009 12:14 AM