Kowabunga

Obama Political Failure #16

The Washington Times has the latest on the Obama “Cap and Tax” plan.

President Obama’s climate plan could cost industry close to $2 trillion, nearly three times the White House’s initial estimate of the so-called “cap-and-trade” legislation, according to Senate staffers who were briefed by the White House.

The plan calls for forcing a trade between companies that use more CO2 with companies that use less, thus increasing the cost of production, a cost that will be passed on to consumers (that’s us) in the form of higher prices. In a nutshell, it is yet another tax on working Americans struggling to make ends meet, brought to you by the One and the Democratic Party.

Previous estimates for the Cap and Trade tax were placed at $366 Billion by 2015. All of which would be paid for, ultimately, by working class Americans (that be you and me). It was then raised to $646 Billion over eight years, and now is estimated that it will cost us over $1.9 TRILLION.

“The last thing we need is a massive tax increase in a recession, but reportedly that’s what the White House is offering: up to $1.9 trillion in tax hikes on every single American who drives a car, turns on a light switch or buys a product made in the United States,” said Michael Steel, a spokesman for House Minority Leader John A. Boehner. “And since this energy tax won’t affect manufacturers in Mexico, India and China, it will do nothing but drive American jobs overseas.”

Ultimately, I believe that is the plan: Tax us into oblivion and send more jobs to China.

Tags:

Cap and Trade Global Warming CO2

Tags: Obama, Political Failure