Cuba
Junior Member
Cap and Tax...
The Cap and Tax Fiction - WSJ.com
The biggest doozy in the CBO analysis was its extraordinary decision to look only at the day-to-day costs of operating a trading program, rather than the wider consequences energy restriction would have on the economy. The CBO acknowledges this in a footnote: "The resource cost does not indicate the potential decrease in gross domestic product (GDP) that could result from the cap."
The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.
With the speed that they are rushing this through you'd almost think it was another "stimulus". They've inexplicably added about 300 pages to the bill this week, and since it is being written behind closed doors, and unilaterally, no one really knows what's in it other than massive increases in production costs for every industry in the United States. I wonder if they will give us, or themselves, a chance to read it and discuss it before voting on something without careful consideration of the MASSIVE consequences of such a move. Obama is still on the board of that carbon trading brokerage isn't he?
The Cap and Tax Fiction - WSJ.com
The biggest doozy in the CBO analysis was its extraordinary decision to look only at the day-to-day costs of operating a trading program, rather than the wider consequences energy restriction would have on the economy. The CBO acknowledges this in a footnote: "The resource cost does not indicate the potential decrease in gross domestic product (GDP) that could result from the cap."
The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.
With the speed that they are rushing this through you'd almost think it was another "stimulus". They've inexplicably added about 300 pages to the bill this week, and since it is being written behind closed doors, and unilaterally, no one really knows what's in it other than massive increases in production costs for every industry in the United States. I wonder if they will give us, or themselves, a chance to read it and discuss it before voting on something without careful consideration of the MASSIVE consequences of such a move. Obama is still on the board of that carbon trading brokerage isn't he?