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  • Cap and Trading Your Job In for Unemployment Insurance

    Title IV, Subtitle B, Part 2, Section 426 of the Waxman-Markey cap and trade legislation:

    An eligible worker (specifically, workers who lose their jobs as a result of this measure) may receive a climate change adjustment allowance under this subsection for a period of not longer than 156 weeks…80 percent of the monthly premium of any health insurance coverage…up to a maximum payment of $1,500 in relocation allowance…and job search expenses not exceed[ing] $1,500.”

    Climate change adjustment allowance? Seriously?

    President of the American Energy Alliance Thomas Pyle’s response:

    While the authors of this bill continue to insist that cap-and-tax will be a clear economic winner, several provisions buried deep in the text confirm their true belief that it will massively stimulate the unemployment rolls.

    America is supposed to be a land of opportunity and prosperity – not a land where political elites work behind closed doors to ship jobs offshore,” continued Pyle. “And with only 24 percent of the American people even knowing what cap-and-trade is, I am convinced that when the public learns that the leaders of this government are indeed, purposely and knowingly outsourcing American jobs in the name of global warming, they will demand answers and hold them accountable.”

    Compared to no cap and trade, average unemployment increases to 1,145,000 lost jobs under the latest draft of the bill. Peak-year unemployment losses rise to 2.48 million people. That’s a lot of people to be on the government’s tab for a bill that will make a change in the temperature too small to ever notice.

    For full analysis of the bill’s economic impacts, go here.

    Posted in Energy [slideshow_deploy]

    5 Responses to Cap and Trading Your Job In for Unemployment Insurance

    1. Pingback: » Financial News Update - 05/21/09 NoisyRoom.net: “Extremism in the defense of liberty is no vice. Moderation in the face of tyranny is no virtue.” Barry Goldwater

    2. Barb -mn says:

      What's the definition of "cap" when it comes to thugs?

    3. LW, Newport News VA says:

      Let's "cap" every representative and senator who votes for this ridiculous piece of legislation by selecting the other candidate in the next election. Do it again and again. Then perhaps we'll get the "trade" toward bills favoring business growth, energy development (i.e. off-shore drilling here and opening oil/gas fields on shore to future exploration as well as building more nuclear plants), and lower corporate/personal taxes. Afterwards, stand back and watch this economy hum toward recovery. Works every time. Look at historical data. Irrefutable.

    4. Angel, Ohio says:

      I think the cap represents "knee cap". They will cripple us all with this terrible bill. Knowing that they have a speed reader reading this bill in front of congress — this is a mockery or the American people. Then to top it off non of them understand any of it because it was written by scientist.

      Seems to me the Al Gore and his science buddies will be raking in the buckets with this new tax and if it doesn't work

      Take a look at this post — here are some great questions that Al Gore should answer regarding Global Warming especially question 10. http://www.freerepublic.com/focus/news/2237835/po

    5. Marshall Hill MI. says:

      Waxman is on the list of those who are in the Way,along with Al Gore!

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