Friday, March 20, 2009

Cap and Trade will Increase Prices of Everything

I found this great story on the Heritage Foundation blog, The Foundry. In Obama Will Shock Consumers with Higher Electric Bills, they have some information that will make even more upset at Cap and Trade and the farce of Global Climate Change.

Cap and Trade will tax energy producers and any company that emits “greenhouse gases” (which do not exist). These companies will then pass these additional costs of these taxes on to their customers.

However, what this post does not mention how these taxes will affect businesses. Businesses use energy. Their energy costs will going up as well. Businesses will do what they do and pass their additional costs on to their customers, us.

So, not only will our energy costs go up but products and services costs will increase, as well. We will see prices for everything increase due to Cap and Trade.

The Foundary story is below:

“Hold onto your thermostat as well as your wallet! Annual utility bills may rise $1,800 under President Obama’s “cap and trade” energy tax plan. That wipes out his pledge of a $800 a year tax cut for 95% of Americans.

The White House admits low-balling the cost in Obama’s official budget, which claimed that his plan would add $646 billion to energy costs over 8 years.

The new price tag is three times as high, close to $2 trillion in 8 years, according to Jason Furman, deputy director of Obama’s National Economic Council. That’s $250-billion each year to be passed along to consumers, equivalent to adding an extra 50% to what the U.S. Department of Energy estimates we spend on energy each year.

A 50% increase on home utilities would average about $150 per month–$1,800 per year–since the average bill is $297 a month according to the White Fence Index. The White House claims it would offset this with an $800 per year household tax credit (and 42% of it would go to those who don’t even pay income taxes. Even with an $800 rebate, the net loss is $1,000 per family per year.

Obama claims it’s necessary to halt global warming even though the Earth is actually cooling. Americans are about to pay dearly for global warming hysteria. The planet may not be getting hotter, but people will be as they learn about this.

Details are found here at Human Events online.”

1 comment:

  1. This is the biggest scam since fuel from food! We all know what happened when farmers stopped producing corn for food but rather our gas tanks. The shortage to the heavily corn-based U.S. food chain caused everything to increase, from beef (feed) all the way to soft drinks (corn syrup, subsequently leading some around the world to poverty and starvation. If I could come up with the worst thing possible to put in our gas tanks, it would be our food. What dolts thought this was a good idea?

    Bottom line: sometimes the solution can have much worse consequences than the problem. Or lack there of in the case of CO2-based AGW.