Monday, November 2, 2009

What is Cap and Trade?

What is Cap and Trade? I'm glad you asked

It's a tax.

A tax to further income redistribution.

A slick way to move closer to socialism.

Take from the poor and give to the poorer.

A pox on the blue collar worker.

A bane on the energy generation states and a boon to the poor cities.

The Wall Street Journal did the math. The states that would pay the most in cost to buy credits are :

Wyoming, North Dakota, Alaska, West Virginia, Montana, Louisiana, Indiana, Nebraska, Kentucky, and Iowa.

This is based on per capita carbon equivalents in tons. Hardest hit would be working families - the 95% of families that Obama promised would not see a tax increase. They would pay 3.3% of their after tax income for the cap and trade.

Gee, too bad the Republican National Committee doesn't read the Wall Street Journal. Most working people would certainly favor a party that doesn't want to have another 3.3% of their take-home pay stolen.

Maybe they could point out that this breaks another Obama campaign promise. The "making work pay" tax credit ($400 to individuals and $800 for families) for people who don't pay taxes. This won't even cover the carbon tax, especially in high carbon use states. So, the government will make carbon emitters buy credits. They will raise prices. The consumer will pay the extra cost for power. The government will redistribute the money back, but it will not cover the tax credit.

Will less carbon be emitted. Maybe, maybe not. But, more taxes will be collected and returned to people who don't pay taxes.

Sounds like a tax, looks like a tax, smells like a tax. Must be a tax.

It won't be called a tax, it will be called environmental cleanup.

Just another little white lie from Washington. Who cares, I do, and you should too.

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Think I'm making this stuff up again? Well, here is a link to the Wall Street Journal article which has a few more details.

http://online.wsj.com/article/SB123655590609066021.html

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