Tax and Trade Alert!

stockxpertcom-id9516682-size0-us-capital.jpgAs you probably already know, the US House of Representatives approved the Cap and Trade bill last Friday (HR2454).  I’m still reeling over that.

Although I am disappointed that so many Representatives in Congress voted for this blatent tax, I’m not surprised.  I’m never surprised when the powerful in Washington find a new way to separate me from my money, regardless of the method or intermediaries.

There are those who believe that by taxing corporations or the rich, the impact on the rest of society is nil.  But it never is.  Although not always obvious, these taxes still get paid by you and me in the prices we pay for products and services.  Corporations do not absorb millions of dollars in taxation from a mysterious pool of unspent profit.  They factor those taxes into their revenue models to ensure they maintain the profit level expected by their owners (shareholders).  We all end up paying those taxes.

And in the case of taxing energy consumption, there is no motivation provided to improve the consumption model or method of generating energy… the price simply goes up.  The Heritage Foundation has provided an analysis of the impact of the bill on jobs and families, including estimates of gross state product losses, job losses and average family expense increases.  This is not good for America.

Now is the time to contact your Senator.  Updates to the bill should appear in the sidebar under “Cap And Trade Updates”.

Frustrating are the Republicans who support this bill. 

  • Michael Castle, Delaware
  • Mary Bono Mack, California
  • Mark Kirk, Illinois
  • Leonard Lance, New Jersey
  • Frank LoBiondo, New Jersey
  • John McHugh,  New York
  • Dave Reichert, Washington
  • Christopher  Smith, New Jersey

Also interesting are comments from Democrats who opposed this bill:

  • John Dingell (D-MI): “Nobody in this country realizes that cap and trade is a tax, and it’s a great big one.” (Rep. John Dingell, Subcommittee On Energy And Environment, Energy And Commerce Committee, Hearing, 4/24/09)
  • Sen. Evan Bayh (D-IN): “And you also run the risk of taking jobs away and not actually solving global warming.” (MSNBC’s “Hardball,” 3/25/09)
  • Sen. Mary Landrieu (D-LA): “I just don’t think an economy-wide cap and trade works.” (Gerard Shields, “La. Democrats key figures in federal emissions debate,” The Advocate, 5/2/09)
  • Rep. Charlie Melancon (D-LA): “I believe this bill would create an undue burden on families who are already paying too much in energy bills…” (Gerard Shields, “La. Democrats key figures in federal emissions debate,” The Advocate, 5/2/09)
  • Rep. Jason Altmire (D-PA): “Any way you do it, it hurts Pennsylvania, especially western Pennsylvania. I think cap and trade is bad policy.” (Alex Isenstadt, “Cap and trade hits speed bumps,” Politico, 4/27/09)

Below is a video from the Republican National Committee that you also might find helpful.

Props to Bitsblog, IowaGOP, RNC, and various US Government online resources.

About the Author

Mr. Smith is the Publisher of The Conservative Reader. He is Partner/Owner of Ambrosia Web Technology as well as a Systems Architect for Wells Fargo. Art hold a degree in Computer Science from Drake University in Des Moines, Iowa, and is a political blogger at the Des Moines Register. Art's views are purely his own and do not necessarily reflect the views of Wells Fargo.

 

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