Posted by: rotenochsen | May 22, 2009

CAP AND TRADE WILL BE ECONOMIC SUICIDE FOR USA

Friday, May 22, 2009

The push to pass the “Cap and Trade” Bill in Congress is being promoted by those wealthy politicians and the out of touch with the real world academics. Some like Al Gore stand to make hundreds of millions of dollars through his association with World organisations that profit from the marketing/trading of emission credits.
And I suspect there are many more politicians in Washington on both sides of the aisle who will profit from this Bill if it is passed.

On the opposite side of the issue, the average American will have to pay more for driving a car that doesn’t meet the new gas mileage standards, and it is estimated that heating and air conditioning bills for the average household will increase by more than a thousand dollars a year.

These type of free enterprise, private industry destroying measures are based upon a premise that is disputed by over three thousand scientists who study climate change. Yet those academics in Ivy League Schools who think they are so smart that they CAN THINK for the average citizen, In so doing, the law the back will arguably destroy our free enterprise system. to satisfy an EU and UN aspiration to form World government through international laws like “cap and trade” and a World Court that is supreme over all Countries Laws and Courts.

While we are marching toward National Bankruptcy with the massive “spendulus” program that will result is devaluation of our money, and a plethora of Socialism programs. Countries like Brazil, China and India are driving toward economic dominance by giving nothing but lip service to the air emission issue as this quote illustrates.
“While visiting Prague this week, Premier Wen Jiabao(Cina) shrugged off pressure from the European Union for China to commit to cutting greenhouse gas emissions, though he backed EU efforts to reach a new global climate change accord to replace the U.N. Kyoto Protocol, which expires in 2012.
He even went so far as to say this about the so called “developed” nations: ” Wealthy nations, as history’s biggest polluters, should cut greenhouse gas emissions by 40 percent from 1990 levels by 2020 China says in a policy document on climate change. The government also rolled out fresh help for solar power and other “green energy.”
This despite China, which relies on heavily polluting coal for about three-quarters of its electricity, has sought to “spotlight” its efforts to improve energy efficiency and cut emissions, but has not committed to specific targets in climate talks.

The reductions China is calling for are based on the principles of “historical responsibility and fairness,” the position paper says, and sets a hard line ahead of international negotiations on addressing global warming. Talk is cheep, especially when the Communist nation wants to see our Country and any free-enterprise Country to reduce their capability to compete with the growing economic “giant” of China! A country that will be making more and more cars for General Motors and Chrysler that will be shipped to the USA for sale, because their totalitarian State only allows the workers who make the cars only three dollars an hour!
And by the way, China has welcomed President Barack Obama’s commitment to tackle climate change and re-engage in the international negotiations to come to an agreement in December. Of course they will cheer for everything that Obamna does to destroy the free enterprise system and productivity of the USA.Which is what I think is his hidden agenda!

The cap-and-trade tax is potentially the largest tax increase ever imposed. According to the Administration’s own budget document, the cost will be at least $646 billion over an eight-year period.
And the Bill is so long that the Democrats are talking about having speed reader read the Bill to Congress to satisfy the Promise, broken already many times, that Obama made that his administration will be open. The latest estimate of how long will it take to have a speed reader, read the Bill, is nine Hours!
I can remember when I was in College studying Political Science, that the average Congressional Bill was 30 pages long. Today the Bills are many hundreds,some Bills are more than a thousand pages. These massive Bills are filled with things that are inserted to hide from the public, and are never read by the Congressional staff much less the Congress person!

This quote from The “Right Side News” illustrates the impact this dastardly Bill will have on US taxpayers and business in general.
“Memorial Day was the target date set by Democrats Henry Waxman (D-CA) and Ed Markey (D-MA) for passage of a cap-and-trade bill that promises economic hardship for all. The Waxman-Markey “American Clean Energy and Security Act of 2009” (HR 2454) would raise taxes on American families by nearly $3,100 a year, lead to huge job losses, and dramatically raise the energy expenditures of American households.

Under a cap-and-trade policy, companies would be forced to raise energy prices. This would unleash a series of adverse economic consequences and hardships for Americans, as numerous studies dictate.

“The Heritage Foundation’s Center for Data Analysis determined that Waxman-Markey would reduce aggregate GDP by $7.4 trillion, kill 844,00 jobs and raise the energy bill paid by a typical family by about $1,500 annually.

A study by the National Association of Manufacturers projected that emissions caps, similar to those previously rejected by the U.S. Senate calling for a 63% cut in emissions by 2050, would reduce GDP by up to $269 billion and cost 850,000 jobs.

A study conducted by researchers at the Massachusetts Institute of Technology determined the restrictions could raise gasoline prices by 29%, electricity prices by 55% and natural gas prices by 15% by 2015.
And a 2007 report by the Congressional Budget Office examining the costs of cutting carbon emissions just 15% noted that customers “would face persistently higher prices for products such as electricity and gasoline. Those price increases would be regressive in that poorer households would bear a larger burden relative to their income than wealthier households would.”

Given these dire consequences, some may be surprised that some of the nation’s largest corporations are lobbying for this bill. Companies participating in the United States Climate Action Partnership, a lobbying group of over thirty corporations(notably GE) and environmental activist organizations, are trying to profit from a government-mandated “cap and trade” anti-global warming policy by selling so-called carbon credits from reductions in greenhouse gases”. So to make special interest groups and many politicians more wealthy. A Bill will be passed that not only hurts the private free enterprise system, but taxes all of us in this country who do not have the elected officials working for us anymore!

 
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