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  • What Cap and Trade Energy Tax Would Cost American Households

    Any honest economist will tell you that a carbon cap and trade scheme, if it works perfectly, functions the same as an energy tax. The Waxman-Markey cap and trade bill currently under consideration in Congress is no different. In 2007, MIT did a study on the costs of cap and trade and found that cap and trade proposals that would reduce carbon emission by 50% to 80% below 1990 levels by 2050 would cost the American household $800 a year in economic losses and $3,100 a year in taxes collected by the federal government. That’s a total $3,900 cost for the average American household! How does this cost compare to other household expenses?

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    Posted in Energy [slideshow_deploy]

    23 Responses to What Cap and Trade Energy Tax Would Cost American Households

    1. David Anfinrud, Bell says:

      But will it not push some farmers/ranchers out of the market. Due to increase in costs so they no longer make a profit. There are many aspects that could push cost of food even higher. Besides the cost to deliver the food to market. Taxes I understand can be estimated on the overall cost. But did they look at what production levels will be for food if a percentage of farmers/ranchers no longer adding the fruit of thier labors to our food supply????

    2. Marsha, Wheeling Wes says:

      I know Congress is regulating energy using the Commerce Clause as their right, well… It is one thing to regulate and another thing to extort the energy industry and people for congresses own gain.

      Extortion does not protect the public. They are using false science for a regulating rationale. They are over reaching by extorting money in the name of safety; a form of Tyranny that can not be allowed.

      SAFETY FROM WHAT??? It is strictly a way for certain legislators who are heavily invested in these alternative energies to assist them in padding their portfolios. Look at the Speaker and how much she invested in wind mills.

      It is time to remove these extortionists from office. Pre-emptive punishment can not be used under the constitutional law.

      Regulate does not mean taxing to kill, but it also does not mean regulating under false legal rationales using unproven and faulty scientific models that are known to be flawed to determine future earth temperatures.

      Also, it is time for the industry to turn their backs on Congress and see how many of these congressmen will be re-elected.

      Again, it is time to repeal the 16th amendment using the 5th amendment and force a convention for the 16th amendment (this can be done for only one amendment at a time). Each of the 2/3 of the states need to repeal the 16th amendment demanding the convention for that amendment will then have to be initiated. Amendments can be targeted… 17th as well. Congress will have no other choice, but to be forced to act by the states (congress doesn't have the right to ignore it, they must act). It is time to eliminate these two amendments if Congress won't do it from Washington. The states need to initiate it.

    3. Barb -mn says:

      They'll pick and choose farmers/ranchers for subsidy handouts, while the rest collapse. All part of Obamanomics.

      When will we be freed of these thieves?

    4. Pingback: The Recession is Ending? No, the Hardship is Just Beginning | EVERY THOUGHT CAPTIVE

    5. AntonioSosa says:

      We pray that honest officials — Democrats and Republicans — are able to save us from Obama's destructive and evil schemes, such as cap and trade. Cap and trade would further enrich Obama’s billionaire friends while helping him achieve his goal of transforming the U.S. into another socialist/communist GULAG like Cuba.

      Cap and Trade “would be the equivalent of an atomic bomb directed at the U.S. economy—all without any scientific justification,” says famed climatologist Dr. S. Fred Singer. It would significantly increase taxes and the cost of energy, forcing many companies to close, thus increasing unemployment, poverty and dependence.

      More and more scientists and thinking people all over the world are realizing that man-made global warming is a hoax that threatens our future and the future of our children. More than 700 international scientists dissent over man-made global warming claims. They are now more than 13 times the number of UN scientists (52) who authored the media-hyped IPCC 2007 Summary for Policymakers. http://www.climatechangefraud.com/content/view/35

      Additionally, more than 30,000 American scientists have signed onto a petition that states, "There is no convincing scientific evidence that human release of carbon dioxide, methane, or other greenhouse gases is causing or will, in the foreseeable future, cause catastrophic heating of the Earth's atmosphere and disruption of the Earth's climate." http://www.petitionproject.org

      "Progressive" (communist) politicians like Obama seem determined to force us to swallow the man-made global warming scam. We need to defend ourselves from the United Nations and these politicians, who threaten our future and the future of our children. Based on a lie, they have already wasted billions and plan to increase taxes and increase the cost of energy, which will limit development, destroy our economy and enslave us.

      If not stopped, the global warming scam will enrich the scammers (Gore and Obama's Wall Street friends), increase the power of the United Nations and communists like Obama, and multiply poverty and servitude for the rest of us.

    6. Pingback: » Financial News Update - 05/08/09 NoisyRoom.net: “Extremism in the defense of liberty is no vice. Moderation in the face of tyranny is no virtue.” Barry Goldwater

    7. websquaw says:

      BHO wants to bring poverty to more American families. The figures above are somewhat inaccurate; realistically, living in California, as a middle income family, we also pay 9% state income tax (or about $4K annually), and property taxes for our area (southern CA) are $3.5K vice $1.7. Adding cap & trade taxes will cripple many Californians.

    8. Pingback: Morning Conservative Reading List - May 10, 2009 - AIP Blog - American Issues Project

    9. toomuchgovernment, C says:

      Face it folks–as long as Obama gets 'power and control' and that is all he wants, he could give a rats-rear-end what the costs are and what it costs the 'average US household' or who it puts out of business! Yup, the farmer will be gone and you will be paying more for food grown by Monsanto, et all.

      Obama, Pelosi and Reid are all about government being in total of control of each and everything you do, you own and how it is bought and the next thing will be he will find a way to control the thermostat you have in your house. If it goes above 75 degrees, you will get a fine! Power and control, folks, thats all it is! Called Socialism or CUBA!

      Thats what democrats are all about and the sooner the voters wake up and realize this, the more money we will have left in our pockets! However, there are many now that will be 'on-the-take' and will be voting him back in power. We are looking at a 2 term president unless we unite!

      When one adds all of the little 'goodies' Obama has promised for the normal, taxpayer, we will be looking at atleast 70% in taxes! MINIMUM! Like working for the government??? as you now will be living on 30% of what you make!

      This really stinks and unless we unite and protest, this is what we will have! Blogging and chatting and moaning and groaning without action will NOT solve THIS problem!

    10. Concerned, Raleigh says:

      Geez, Why not just shift to a consumption tax. This will bring our jobs back home and clear out some of the lobbyist. "Cap and trade" will only lead us into a great depression (Part II). Let's look at the facts and get back to really. What ever happened to 'We the People of the United States of America." When was the constitution changed to "We the Government…"

    11. Jim@Redding,CA says:

      My only question is, "How much more of this are HONEST Americans going to put up

      with before they DO SOMETHING TO STOP IT?"

      When are people going awaken to the fact

      that this is all about making us into true

      slaves, working most of our lives to pay

      unfair taxes to a repressive government?

      Answer: "Probably not until it is FAR TOO

      LATE…" Why? In all truth, most of us

      are too lazy and apathetic to get off our

      butts long enough to even make a phone call to our representatives to voice our

      objections to what they seem to be doing

      nothing to prevent…

    12. Pingback: Wonk Room » The WonkLine: May 11, 2009

    13. Lynn B. DeSpain says:

      Remember now, we are dealing with Shiek Obama and his dedicated Tribe in Congress. They do not care what happens to Americans, only how to take care of Illegal Immigrants, placate our Enemies, "Tax the rich to feed the poor, until there are no rich no more", and generaly look good on television.

      So until Elections are held in eighteen months, keep on giving us all the information that you can, so that we all may forward it on and pray that it sticks to some! Otherwise, what's the point?

      Hozro

    14. Conserve, Vermont says:

      I am very concerned about and against any new taxes. But this quoted study and 3900 dollar cost have since been discredited by several people including MIT. Newt looked like a idiot when he tried to refer to these numbers in the hearings last week.

      The truth about the plan, according to Professor John Reilly, one of the authors of the much misquoted and miscalculated cap-and-trade study from the Massachusetts Institute of Technology (MIT), is that the figures are inflated by a factor of ten. The real cost to Americans? More like $340, and that doesn’t even account for an emissions reduction threshold reached (or passed) by 2050, or the fact that all dollar calculations are made at today’s dollar value.

      • Conn Carroll Conn Carroll says:

        Dear Conserve-
        The $3,900 cost is 100% correct. Click through on our link to the study and you'll see that Professor Reilly was trying to pull a fast one on the American people. His study clearly shows that cap and trade would cost American families $3,100 per year in new energy taxes. Now Reilly tries to claim these are not "costs" since the federal government will then get to spend the money, but if you believe that then why don't you just double the FICA withholding out of everyone of your paychecks? After all, accoring to Reilly, and I guess you to, it doesn't actually "cost" you anything.

    15. L. D. Norris says:

      Global Warming – the biggest religious-type scam in human history, propagated by a clique of power-mad politicians and do-gooders. The cost impact on us and our descendants will be immeasurably huge and without benefit. Obama and his cohorts must be voted out of office at the earliest possible moment if our current free-enterprise economy is to continue to survive and prosper. – L. D. Norris

    16. Mary Fresno,CA write says:

      Dear Citizens across America, write your United States Senators and Representatives in the House and voice your opposition to "cape and trade" and every other illegal and immoral law that the Obama administration is trying to force upon us..

      This is how we can begin to fight back, with thousands of letters and e-mails. And if this fails, we will then resort to Plan B. Stay tuned!

    17. Pingback: Only 24% Know What Cap And Trade Is — Tax and Ration energy « Tarpon’s Swamp

    18. NotSheeple says:

      How is it that the Bureau of Labor Statistics managed, in 2007, to publish the dollar impact on the American family of 2009 legislation?

    19. Pingback: Beware Of Cap And Trade! « A Conservative Wanderer

    20. Pingback: Scott Kalbach » Spending Shock and Awe

    21. Pingback: Cap and Trade Will Cost Every Family $3,900 Per Year | reformingjournalism.com

    22. Smarry says:

      In 2007, MIT did a study on the costs of cap and trade and found that cap and trade proposals that would reduce carbon emission by 50% to 80% below 1990 [...]

      ___________________

      Smarry

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