CAP AND TRADE-- A HIDDEN TAX INCREASE ON ALL AMERICANS

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In a Wall Street Journal opinion article about President Obama's tax & spend ways (nearly $11,000.00 in spending for every person in the U.S.A.), the editorialist makes the following essential point about "cap and trade" limits on carbon emissions:

[I]t's unclear why Mr. Obama thinks his climate-change scheme won't hit all Americans with higher taxes. Selling the right to emit greenhouse gases amounts to a steep new tax on most types of energy and, therefore, on all Americans who use energy. There's a reason that Charlie Rangel's Ways and Means panel, which writes tax law, is holding hearings this week on cap-and-trade regulation.

So much for the lie that Obama and the Democrats will only confiscate more money from the top 2% of earners.

And cap and trade will cost some big coin.

The [Washington] Post cited testimony to Congress in September by Peter Orszag, currently Obama's budget director, estimating that revenue from a cap-and-trade scheme could reach 112 billion dollars by 2012.

According to Orszag, who at the time was director of the Congressional Budget Office, the program -- which would force companies to buy permits if they exceed pollution emission limits -- could generate between 50 and 300 billion dollars a year by 2020.

Cap and trade will adversely affect all automotive sectors. It will lead to inflated prices and fewer product choices. It will cut into revenues that could otherwise be used for more productive purposes. It will fuel huge increases in the size and scope of the federal government. It will dramatically increase the costs of our automotive liberty.

Cap and trade is nothing more than another tax scheme based upon the speculative, quasi-religious beliefs of an alleged "consensus" of mostly politically-motivated "scientists."

Reduced to its simplest: Cap and Trade = regressive tax on everyone.