CO2 cap and trade is a VERY high price to pay for a big fat lie!
“Cap and trade is the tax that dare not speak its name, and Democrats are hoping in particular that no one notices who would pay for their climate ambitions…
Hit hardest would be the ‘95% of working families’ Mr. Obama keeps mentioning, usually omitting that his no-new-taxes pledge comes with the caveat ‘unless you use energy.’ Putting a price on carbon is regressive by definition because poor and middle-income households spend more of their paychecks on things like gas to drive to work, groceries or home heating…
The Congressional Budget Office… estimates that the price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year. That's about $680, not including the costs of reduced employment and output. The three middle quintiles would see their paychecks cut between $880 and $1,500, or 2.9% to 2.7% of income. The rich would pay 1.7%.”
Obama’s climate czar, & read the rest:
Anyone who falsely hopes that redistributing the cap and trade revenues might ultimately benefit the two very lowest quintiles - as one option in this CBO figure implies - should note that the middle quintile gets screwed in EACH of those redistribution schemes. They should also understand that each blow to the upper quintile has all the effects (and more) described in this cartoon.
When the upper quintile gets punished by class warfare oriented Marxist government bureaucrats, the bottom 4 quintiles ALWAYS suffer the most!
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