The Cap and Tax Fiction

Posted: June 26th, 2009 | Author: Adam Macchi | Filed under: Economy, Politics | Tags: , , , , , | No Comments »

cap-and-taxFrom the Wall Street Journal,

“Even as Democrats have promised that this cap-and-trade legislation won’t pinch wallets, behind the scenes they’ve acknowledged the energy price tsunami that is coming. During the brief few days in which the bill was debated in the House Energy Committee, Republicans offered three amendments: one to suspend the program if gas hit $5 a gallon; one to suspend the program if electricity prices rose 10% over 2009; and one to suspend the program if unemployment rates hit 15%. Democrats defeated all of them.

The reality is that cost estimates for climate legislation are as unreliable as the models predicting climate change. What comes out of the computer is a function of what politicians type in. A better indicator might be what other countries are already experiencing. Britain’s Taxpayer Alliance estimates the average family there is paying nearly $1,300 a year in green taxes for carbon-cutting programs in effect only a few years.

Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can’t repeal that reality.”

Part I: How to pay for a multi-trillion dollar stimulus bill without raising Federal Income Tax

Posted: April 17th, 2009 | Author: Adam Macchi | Filed under: Economy, Politics | Tags: , , , , , | No Comments »

This is the first part in a series dedicated to chronicling the means of paying for a trillion dollar stimulus package without raising Federal Income Tax.

Part I: DECLARE GREENHOUSE GASES TO BE A PUBLIC THREAT. Once you’ve declared Greenhouse gases a public threat establish carbon taxes and a cap and trade program.

From the Los Angeles Times,

“The Obama administration will declare greenhouse gases a threat to public health today, sources said, marking a major step — both practically and symbolically — toward federal limits on the carbon dioxide emissions scientists blame for global warming.

The move by the Environmental Protection Agency is prompted by a two-year-old Supreme Court decision. It paves the way for the White House to regulate emissions from vehicles and effectively force the U.S. auto fleet to be cleaner and more efficient – a plan the administration is expected to put in place soon.”

Although not stated in this latest announcement, I cannot help but believe this move is simply laying the groundwork for greater energy taxes which will ultimately be passed on to the consumer.