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  • Joe Barton’s Letter to Secretary Geithner on Cap and Trade

    Congressman Joe Barton

    Can President Obama lead the United States out of the recession? In a word, no. Economist Russ Robert opines, “No man or woman runs the economy. No man or woman or team of people can possibly plan the evolution of the economy in the coming months. America will come out of the recession but the time and pace are unknown. Obama can help. But he can just as easily slow down any recovery. Some part of the current mess we’re in is the result of erratic government policy that has added to the uncertainty facing consumer, investors, and entrepreneurs.”

    The takeaway here is that he can help or he can make things worse. In a letter to Treasury Secretary Timothy Geithner, Congressman Joe Barton (R-Texas) does a very good job explaining how a cap and trade policy will do the latter:

    Dear Secretary Geithner:

    On January 8, 2009, then-President-elect Obama said he would offer working families a tax cut “to get people spending again.” He added that 95 percent of working families could expect to save an average of $1,000, explaining that it would constitute the first stage of a middle-class tax cut that he had promised during last year’s election campaign.

    That level of cut would reduce taxes an estimated $770 billion, but as we know, the effective tax imposed by the Administration’s carbon cap-and-trade proposal would raise them by at least $676 billion. Consequently, the new taxes will absorb 88 percent of the promised tax cut, and maybe more. I am concerned that in real terms, this means the President’s tax cut of $1,000 would shrink, on average, to $120. That amount just doesn’t seem enough to get people spending again.

    That’s not the only difficulty. Examination of the President’s budget reveals that much of the tax cut is not actually intended to assist taxpayers. About $326 billion of the tax cuts are in the form of credits and other mechanisms designed to deliver money to people who don’t pay taxes. Since tax-cut funds flowing to non-taxpayers must come from people who really do pay taxes, the result is that taxpayers will pay their own share of the cap- and-trade tax, and then pay extra to protect the non-taxpayers from cap and trade. If that happens, the everyday taxpayer can anticipate the government taking $522 more instead of $1,000 less.

    America is counting on our new President to reinvigorate the stale economy. Pursuing a carbon cap-and-trade program that puts European-style global warming goals ahead of working taxpayers’ economic health is objectionable under most circumstances, but employing global warming policy to raise people’s taxes after promising to cut their taxes will be calamitous to families who were counting on that money.

    I urge you to use your influence and prevail on the White House to reconsider this unhealthy smorgasbord of global warming radicalism and tax fantasy. The families whose paychecks are financing the trillion-dollar bailout and stimulus packages should be first in line for the help that we can extend to them, especially including a serious effort to reduce government’s appetite for the money people earn by working for it.

    Sincerely,

    Joe Barton Ranking Member”

    Posted in Energy [slideshow_deploy]

    5 Responses to Joe Barton’s Letter to Secretary Geithner on Cap and Trade

    1. Daniel Cabrera,Merri says:

      Hello;good day everyone;

      This is my first time I do write here, I did learn about HERITAGE on the radio presentation of Mr Limbaugh who, in my humble opinnon is a voice of reason for to all americans.

      Anyway,all this problematics I believe is down to one simple thing – LACK OF HONESTY,INTEGRIT AND COMMON SENSE OF THE CURRENT ADMINISTRATION TWOARD THE BEST INTEREST OF WE, THE PEOPLE.

      I would say in short this;

      Obama(tagged as 'president')is THE FRONT MAN OF A GROUP WITH THE AGENDA TO DESTROY OUR BELOVED LAND.

      His purpose is TALK CONVINCING, DPREAD DECEPTION, ENGULF THE MASSES -just like Hitler did in the past.

      These ENEMIES OF THE STATE NEED TO BE IDENTIFIED, AND REMOVED FROM OFFICE – REPLACED WITH INDIVIDUALS/TRUE AMERICANS(NOT TRAITORS) , INDIVIDUALS OF GOOD CHARACTER,INTEGRITY AND HONESTY.

      A strong group of lawyers, journalists, investigators can put together all the factors and information needed to do the task…presented to the public and then CALL FOR A GENERAL CITIZEN REFERENDUM. THAT WILL DO THE TRICK.

      I am inclined to think that I am not too far from realilty.

      sincerely,

      Daniel Cabrera

      Merrillville, Indiana

    2. Helen Helfrich, Palm says:

      I do belive Mr. Carera is right on target. Our Congressmens and Senators have got to come togather and stand up and do what is right for this country. We are heading down the path of Socialism and I think that is what the new President wants for our Country.

      A very concern Citizen,

      Helen Helfrich

      Palm Desert, CA

    3. John Fanning New Hyd says:

      If the Obama train ride continues on its current course our country is heading for a disaster that may take decades before it recovers. This administration is one of the worst I've ever seen,and I have voting since 1952. Thank You

    4. Marcia Picou, Baton says:

      Every American needs to read the book by Brad O'Leary titled The Audacity Of Deceit. It reveals all of Obama's disastrous plans for the USA – when is the American Public going to wake up? I hope it won't be to late. I am very concerned about the direction our country is going. So many people voted for Obama without realizing his ultimate goals, one of which is the absolute bankruptcy of the USA. Another resource is the book by Dick Morris titled Fleeced And for a great direction for taxes, that would hopefully remove some of the power the current tax code gives to politicians, a book called FAIRTAX:The Truth, is worth pursuing. Thanks.

    5. THOMAS GRAY, SC says:

      In the end the den of thieves will loose becouse the pain they are beginning to cause will get the peoples attention, but then may be a long time we have to wait for the change we were lied to about to come.

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