CAP & TAX

Speaker Pelosi is trying to get a vote on the Waxman-Markey bill as soon as she can - maybe today. The intent of this legislation is to cut carbon emissions. A tax of sorts will be imposed so that those doing the emitting will do less. This most directly effects power companies who will in turn raise the price to consumers (you and me) of gas and electricity. The sponsors of the bill think this will cause Americans to use less of each of these utility items and save us from global warming to boot.

The bill sets a cap or limit on the amount of carbon that the country can emit. Each business emitting carbon (usually as CO2) will have to buy a permit or credits to pay for what they emit. Every year, the amount of permissible carbon emissions will decrease. As a result of this, the price of the permits will increase accordingly. A trading organization will be set up by the government to control the sale of these permits.

Are you with me so far? Well, lets jump to the end. As you can imagine, the extra costs that businesses incur from this bill will be passed on to the consumer. Every business that has a furnace or an air conditioner will pay more. Not only is a new bureaucracy being set up but the effects will be felt all over the economy.

This will be the largest tax ever imposed on the American people. These duplicitous law makers have started the program very slowly so that you wont hardly notice it for the first few years. Things really pick up in 2020 and by 2030, when I am probably dead and they're out of office, it will strangle the country so much that the economy will come to a standstill. Businesses will leave the country...consumers will cut spending...more layoffs and business closures will occur...the costs associated with this bill will be included in everything our children buy. The ruling party has decided that we should have air, cleaner than it has been in more than 100 years, and that there is no limit to what we saddle on future generations to pay for it.
:D