-Publishers Note: I took a couple of weeks off the blogging to enjoy my summer time off. I will be back into full blogging mode now.-
President Barack Obama has said that he would not sign legislation that would raise taxes on families making under $250,000, yet he has stated he would sign the climate "cap and trade" bill proposed by congressmen Edward Markey (D-Mass), and Henry Waxman (D-Cali). The Heritage Foundation calculated this new proposal would cost American families an additional $1200 a year in energy costs, and predicts energy costs will increase by 90%.
Here is Candidate Obama talking about his Cap and Trade plan:
Mr. Obama even admits that his plan would make energy costs sky rocket and put an overwhelming burden on businesses. Under this plan, companies can buy "carbon credits" to use. In other words, businesses will have to pay the government to pump pollution in the air, and if a business goes over their credited amount, they will receive hefty fines from the federal government. However, businesses can sell their "carbon credits" to other companies for money, making the decrease in pollution very slight.
All these carbon credits will do is put another overwhelming tax on corporations, who will, fully, pass the cost off to consumers. Therefore, costs on goods will rise tremendously and put a hamper on economic growth.
This bill has passed The House already by a margin of seven votes. This bill cannot become law, because if it does: Prosperity will decrease, and Government, Energy Costs, and Living Costs, will increase.
President Barack Obama has said that he would not sign legislation that would raise taxes on families making under $250,000, yet he has stated he would sign the climate "cap and trade" bill proposed by congressmen Edward Markey (D-Mass), and Henry Waxman (D-Cali). The Heritage Foundation calculated this new proposal would cost American families an additional $1200 a year in energy costs, and predicts energy costs will increase by 90%.
Here is Candidate Obama talking about his Cap and Trade plan:
Mr. Obama even admits that his plan would make energy costs sky rocket and put an overwhelming burden on businesses. Under this plan, companies can buy "carbon credits" to use. In other words, businesses will have to pay the government to pump pollution in the air, and if a business goes over their credited amount, they will receive hefty fines from the federal government. However, businesses can sell their "carbon credits" to other companies for money, making the decrease in pollution very slight.
All these carbon credits will do is put another overwhelming tax on corporations, who will, fully, pass the cost off to consumers. Therefore, costs on goods will rise tremendously and put a hamper on economic growth.
This bill has passed The House already by a margin of seven votes. This bill cannot become law, because if it does: Prosperity will decrease, and Government, Energy Costs, and Living Costs, will increase.
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