Wednesday, September 16, 2009

Cap And Trade ? Not Really ....

More likely, TAX & TAX & TAX........

The Waxman-Markey cap-and-trade bill passed the House by a mere 7 vote this past June. It passed after House Speaker Nancy Pelosi strode to the chamber floor and claimed that "this legislation means jobs, jobs, jobs and jobs. Let's vote for jobs."


Cap and Trade

The Democrats said Waxman-Markey would cost "less than the price of a postage stamp per day," a small price to pay, they declared, for saving the Earth from global warming. They touted a Congressional Budget Office report that estimated the cost would be $175 per household a year.

Well, that was then....this is now......

A handful of Treasury documents related to cap-and-trade, carbon dioxide and greenhouse gases were made public Tuesday, but only after the Competitive Enterprise Institute's Christopher Horner used the Freedom of Information Act to force its disclosure.

Little did we the public know then (although you would have had to had been born yesterday on a turnip farm to have believed the cost wouldn't be a whopper), that the Treasury Department had an an internal estimate that projected a cap-and-trade law would cost Americans up to $200 billion a year in additional new taxes, paid when power providers and other carbon dioxide producers buy CO2 emission allowances from the federal government and then pass the costs on to customers..

Overall, the costs would be "the equivalent of hiking personal income taxes by about 15%.....At the upper end of the administration's estimate, the cost per American household would be an extra $1,761 a year," McCullagh reported on his "Taking Liberties" blog on CBS news.com.

Had it not been for the efforts of the Competitive Enterprise Institute, the analysis would have likely remained a guarded secret.

A handful of Treasury documents related to cap-and-trade, carbon dioxide and greenhouse gases were made public Tuesday, but only after the Competitive Enterprise Institute's Christopher Horner used the Freedom of Information Act to force its disclosure.

If that is the candor and transparency that Barack Obama promised the American people, and delivering on his Energy Policy, can you imagine how much worse it will be when it comes to Health Care?

And, like all good horror stories...that wasn't the end, just the beginning of the end.

It seems that Horner wasn't able to get all the information in the studies, a mjor amount of the detail was blacked out. One additional bit said that "Economic costs will likely be on the order of 1% of GDP, making them equal in scale to all existing environmental regulation." so our costs under Cap and Trade would double overnight. Horner has requested the additional detail information.....want to bet they release it on Halloween?

More to come....but probably not in the NY Times, or on ABC, CBS, or NBC

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