"Cap-and-Trade"
You have heard of this, I am sure. What you may not know is it is a HUGE tax hike on every single American (so much for "95% of all Americans get a tax break").
This will increase the cost of gasoline, diesel, food, electricity, etc., etc. The Detroit News has a great editorial on this today--from a Michigan-centric view, but it can be applied to each and every one of us...
Some points below from the editorial:
The president's budget projects receipts totaling $646 billion through 2019 from the sale of these greenhouse gas permits.
Doing so will drive up the cost of nearly everything and will amount to a major tax increase for American consumers.
Such a tax will hit the Midwest particularly hard, which is why House Minority Leader John A. Boehner, R-Ohio, told the New York Times, "let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch, pure and simple."
The carbon tax will be paid by energy companies, manufacturers and public utilities, who will pass the cost on to their consumers.The proposed tax would take effect in 2012 and has the very real potential to throw the nation back into recession, if indeed the expected recovery has arrived by then. It's impossible to raise costs for such basics as manufacturing and energy production by more than half a trillion dollars over a decade and not have the effects felt across the economy.
This would be a tax on each household in the US of nearly $6500 over the first seven years of the plan...
Look, people, we CANNOT afford to raise taxes right now...FDR did it in '36 and caused the recession of '37 (in the middle of the Depression) which had unemployment shoot back up to over 19% and the GDP suffer a stronger contraction.
This Congress and Administration are engaged in "GENERATIONAL THEFT" mortgaging my sons' futures. IT IS TIME TO STOP GOVERNMENT'S SPENDING---this "Stimulus" bill is LARGER THAN THE ENTIRE GOVERNMENT BUDGET OF 1982!!!
STOP THIS RIDE---I WANT TO GET OFF!!!
