Cap and Trade is a Massive Tax Hike

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TheCatt
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Post by TheCatt »

Administration concludes it will be like a 15% tax increase.
The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.

A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration's estimate, the cost per American household would be an extra $1,761 a year.

A second memorandum, which was prepared for Obama's transition team after the November election, says this about climate change policies: "Economic costs will likely be on the order of 1 percent of GDP, making them equal in scale to all existing environmental regulation."
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Post by GORDON »

You don't say.
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thibodeaux
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Post by thibodeaux »

Ditto.
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Post by Leisher »

Interesting ending to that article.

I wonder why such cover ups aren't bigger news...?
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TheCatt
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Post by TheCatt »

Leisher wrote:Interesting ending to that article.

I wonder why such cover ups aren't bigger news...?
Because ends justify means. Reporters think things are like that are OK cuz it's in support on something they agree with.
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Post by GORDON »

Goodness, that sounds like a fascist philosophy.
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Post by Malcolm »

If you give a shit only about the results, then the ends do justify the means.
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Mommy Dearest
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Post by Mommy Dearest »

Well surprise surprise a tax increase. Like someone finally decided that we better start paying as we spend instead of the new found Republican philosophy to just spend it and not worry where the money would come from.
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Post by Malcolm »

How about not spending so much of my money in the first place?
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Post by TPRJones »

There's a flaw in your statement: the money isn't yours. It says right there on it that it's the property of The United States of America. They just let you keep some of it for them.
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Post by TheCatt »

Mommy Dearest wrote:Well surprise surprise a tax increase. Like someone finally decided that we better start paying as we spend instead of the new found Republican philosophy to just spend it and not worry where the money would come from.
To be fair, I hardly think this is an issue where either party "wins"
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Post by GORDON »

This is an arbitrary tax on energy production based on "carbon production."

A rich person might pay .05% of their income on energy needs.

A poor person might pay 10% of their income on energy needs.

Increase each of those numbers by any percentage, and who does this increase hurt more?

"People who make less than $200k will not pay a dime of extra taxes." I knew at the time he said it he was a lying sack of shit, I said so in these forums, and I have scorn for those who were stupid enough to believe him.




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thibodeaux
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Post by thibodeaux »

Mommy Dearest wrote:Well surprise surprise a tax increase. Like someone finally decided that we better start paying as we spend instead of the new found Republican philosophy to just spend it and not worry where the money would come from.
I know you're not mocking anybody in this forum, because there's not a single person here who advocates government spending.

In fact, this stupid carbon crap isn't about paying for spending; it's about punishing us for our environmental sins.
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Post by TheCatt »

It is indeed regressive, which is why they're doing tax credits for poor people. Yay.
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Post by Mommy Dearest »

GORDON wrote:This is an arbitrary tax on energy production based on "carbon production."

A rich person might pay .05% of their income on energy needs.

A poor person might pay 10% of their income on energy needs.

Increase each of those numbers by any percentage, and who does this increase hurt more?

"People who make less than $200k will not pay a dime of extra taxes." I knew at the time he said it he was a lying sack of shit, I said so in these forums, and I have scorn for those who were stupid enough to believe him.
no a 10% increase in tax may not hurt the poor person so much. I think 0 times 10% still equals ?
Mommy Dearest
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Post by Mommy Dearest »

Mommy Dearest wrote:
GORDON wrote:This is an arbitrary tax on energy production based on "carbon production."

A rich person might pay .05% of their income on energy needs.

A poor person might pay 10% of their income on energy needs.

Increase each of those numbers by any percentage, and who does this increase hurt more?

"People who make less than $200k will not pay a dime of extra taxes." I knew at the time he said it he was a lying sack of shit, I said so in these forums, and I have scorn for those who were stupid enough to believe him.
no a 10% increase in tax may not hurt the poor person so much. I think 0 times 10% still equals ?
But I will go back and read the bill and see what it is all about. And no I am not mocking any single member of this forum. I for one was a Republican before they dropped fiscal responsibilty from the platform.
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Post by Leisher »

I for one was a Republican before they dropped fiscal responsibilty from the platform.


True story, but that doesn't make the Dems better by default.
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Post by GORDON »

Mommy Dearest wrote:
GORDON wrote:This is an arbitrary tax on energy production based on "carbon production."

A rich person might pay .05% of their income on energy needs.

A poor person might pay 10% of their income on energy needs.

Increase each of those numbers by any percentage, and who does this increase hurt more?

"People who make less than $200k will not pay a dime of extra taxes." I knew at the time he said it he was a lying sack of shit, I said so in these forums, and I have scorn for those who were stupid enough to believe him.
no a 10% increase in tax may not hurt the poor person so much. I think 0 times 10% still equals ?
It will equate to an increase on their energy bills, which they still pay.

I don't know why you seem to be a fan of this.
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Post by TPRJones »

But the consumers won't be taxed, those evil energy companies will. So the poor won't pay any more than they are now, silly!
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Post by GORDON »

Riiiight. And people think corporations actually ever pay tax. It makes me sad.
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