Of all the potential disasters lurking in this administration I believe "cap and trade" legislation to have the greatest potential for negative financial impact.

It may pass the House this week.

It would do nothing to improve the air (how can moving responsibility from one industry to another change the overall pollution) but it WOULD drastically raise prices for virtually everything that we need.

Obama has admitted greatly increased electricity prices, but that would only be the tip of the iceberg.

If you have any influence, you had better use it today to oppose this back door tax. If it passes, you will likely live long enough to greatly regret it.

Another regressive tax brought to you by President Hopenchange.

The Heritage Foundation Review of the Senate proposal is a must read
http://www.heritage.org/Research/Economy/wm1723.cfm

So is Congressman Tom Cole's op-ed

http://www.americanchronicle.com/articles/view/102937


Bottom line... for little return ,$300 and $600 billion will be sucked out of the pockets of American families and businesses every year. The money then goes to the federal government which believes it has better uses for it.

The Republicans are suggesting that Waxman's idiotic cap and trade bill get read before it gets voted on (an obvious reaction to the passing of the bucket list and other massive tax and spend bills the Congress and the President is rushing through this session) .

Waxman responded by saying he would get a speed reader to do the task... ome of his staffers who can do it in 34 seconds. It will still take 9 hours to finish the 946 page proposal.

Buried deep in those pages is recognition of what the National Association of Manufacturers has already warned;that the bill will kill 850,000 jobs. Waxman plans for that with what is called the "Response Guide for Mass Unemployment" (Page 781... Title IV, Subtitle B, Part 2, Section 426 ).


An eligible worker (specifically, workers who lose their jobs as a result of this measure) may receive a climate change adjustment allowance under this subsection for a period of not longer than 156 weeks…80 percent of the monthly premium of any health insurance coverage…up to a maximum payment of $1,500 in relocation allowance…and job search expenses not exceed[ing] $1,500.
http://www.americanenergyalliance.org/index.php?option=com_content&task=view&id=179&Itemid=50
He plans on giving three years of salary and health insurance, plus job training and relocation costs, to displaced workers.

I thought that Cap and Trade was supposed to be a job creator... where are those "green jobs"... sounds more like a "snow job" to me and a "hose job " to the American people.

The National Black Chamber of Commerce objects to the cap-and-tax plan (http://www.nationalbcc.org/index.php?option=com_content&view=article&id=750:nbcc-study-generates-concerns-about-waxmanmarkey-climate-change-bill-costs-are-high-but-benefits-are-uncertain&catid=1:latest-news&Itemid=7). They claim it will cost 2.5 million jobs, reduce earnings and is a "good way to promote corruption." Has anyone told Obama?

In other eco-news, those environmentally friendly re-usable grocery bags could be hazardous to your health (http://network.nationalpost.com/np/blogs/theappetizer/archive/2009/05/20/back-to-plastic-reusable-grocery-bags-may-pose-public-health-risk.aspx).

Recapping, to save the earth we're going to reduce the work force, reduce earnings, promote corruption, spend more on less safe cars and treat everyone injured in those tin boxes and sickened by their earth-friendly bags with free health care. Is that about it?

Waxman : "Well,I certainly don’t claim to know everything that’s in this bill”

He also admitted that he relied on UN Scientists to write it.
Video - Rep. Waxman: "I don't know the details. I rely on the... - Congress (http://beltwayblips.dailyradar.com/video/rep_waxman_i_don_t_know_the_details_i_rely_on_the/)

We know that this cap and trade will be a HUGE tax on EVERYONE.

What ever happened to all that talk about most people gettinga tax cut? More lies, of course.

Here is an excerpt from a Wall Street Journal article that was reprinted and sent out by our state representative. It speaks to the general subject of taxation and how it either helps or hurts states, and therefore the individuals who live there.

Mr. Laffer is president of Laffer Associates. Mr. Moore is senior economics writer for the Wall Street Journal. They are co-authors of “Rich States, Poor States” (American Legislative Exchange Council, 2009).

And the evidence that we discovered in our new study for the American Legislative Exchange Council, "Rich States, Poor States," published in March, shows that Americans are more sensitive to high taxes than ever before. The tax differential between low-tax and high-tax states is widening, meaning that a relocation from high-tax California or Ohio, to no-income tax Texas or Tennessee, is all the more financially profitable both in terms of lower tax bills and more job opportunities.

Updating some research from Richard Vedder of Ohio University, we found that from 1998 to 2007, more than 1,100 people every day including Sundays and holidays moved from the nine highest income-tax states such as California, New Jersey, New York and Ohio and relocated mostly to the nine tax-haven states with no income tax, including Florida, Nevada, New Hampshire and Texas. We also found that over these same years the no-income tax states created 89% more jobs and had 32% faster personal income growth than their high-tax counterparts.

Betty Brown, our Rep goes on to state:

One last point: States aren't simply competing with each other. As Texas Gov. Rick Perry recently told us, "Our state is competing with Germany, France, Japan and China for business. We'd better have a pro-growth tax system or those American jobs will be out-sourced." Gov. Perry and Texas have the jobs and prosperity model exactly right. Texas created more new jobs in 2008 than all other 49 states combined. And Texas is the only state other than Georgia and North Dakota that is cutting taxes this year.

Obama and crew are going in exactly the wrong direction, unless of course, it is their intention to deliberatley wreck our economy.

Yup

We are in a recession and proposals to increase taxes - is this 1929 again ?






G&P