
by: Bill Dupray posted: 2009-03-20 18:54:00
Viewed 5398 times. 16 Comments.
And that is lowballing it.
From Human Events.
President Obama’s energy tax plan -- a version of the failed European “cap and trade” global warming fiasco -- may cost families $1,800 yearly in higher utility bills, far exceeding his promised $800 a year tax cut for 95% of Americans.While campaigning, Obama admitted that his energy plan would cause electric bills to “skyrocket.”
And lest you think this is partisan spin, the baseline figures are from Obama's own people.
Obama’s official budget claims that his proposed energy tax would add $646 billion to energy costs over 8 years. But that’s low-balling it.
As the Washington Times reported:
President Obama's climate plan could cost industry close to $2 trillion, nearly three times the White House's initial estimate of the so-called "cap-and-trade" legislation, according to Senate staffers who were briefed by the White House. . . . At the meeting, Jason Furman, a top Obama staffer, estimated that the president's cap-and-trade program could cost up to three times as much as the administration's early estimate of $646 billion over eight years.
Put another way, Furman estimates the cap-and-trade scheme will cost, on average, $250 billion annually. That estimate must be taken seriously because Furman is deputy director of Obama’s National Economic Council.
Obama says that these new taxes, which they do not dispute, will be partially offset by tax cuts of $800.00 for 95% of households (and yes, that is another phony use of "tax cut" which is actually a welfare check redistributed from taxpayers to the 42% of Americans who pay no taxes). And even then, everybody is still out at least $1,000.00 per year. All to pay for the hoax of Global Warming.
Is this what people who voted for Obama wanted?
Just curious.
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It is what a lot of people who voted for obama wanted: government intervention in the energy industry. I don't vote democrat, but I'm encouraged by the plan over the alternatives
What are the competing options? Drill our oil until its gone and then buy solar tech from the Chinese? Plow down the Rocky mountains and use all the water in the Colorado River Basin to process tar shale? Use all arable land in the US to produce 'biofuel' and import our food from overseas? The remaining brilliant plan is for ANWAR to give us 0.3% bbl/day over 20 years. yep, going to make a world of a difference, that one. It's also great that major cities have on average about 13day/yr where pollution makes exercise outside give lung damage. Yeah my children [and the republican ones I educate] are excited to inherit a country that has absolutely no future energy plan because I was unwilling to bear the costs of that future.
The 1800 dollar figure is specious. Perhaps people wasting that much energy deserve a lesson in their gluttony. For instance, that would represent a 320% tax rate on my current electricity bill (5people, 2300sq ft). This is another tax lie similar to the one you pushed about the doubling of payroll tax last month.
This is not what people wanted when they voted for Obama. Most independents and all republicans who voted for Obama wanted to see fiscal responsibility. This is not that. It's crippling to our country's economy and disadventagous to American business.
This is government intervention that imposes a nonsensical tax to prevent global warming, something that for all intents and purposes is a scheme cooked up by quasi scientists to direct government money to themselves to study a nonexistent crisis. A scheme that will put the U.S. and other countries that adopt cap and trade at a disadvantage to those countries that rightly ignore the soothsayers. It has little to do with alternative energy or drilling in ANWAR.
Your statement denigrating people who will be burdened by the $1800.00 tax as being wasteful therefore deserving of having to pay the tax shows your true colors. You are not a republican nor are you proud of the exceptionalism of your country.
Well said, Mark -- and I'd add, the comments indicate possible addiction to the two commonly abused liberal drugs - the notion that one is better than, and also smarter than, anyone else.
OK, let me get this straight. You say that the $1800.00 figure is 320% of your energy bill for 5 people living in 2300 sqft.1800 is 320% of 562.5. Keep in mind that both of these figures are for a whole year. Are you seriously telling us that your energy bill is $562.50 a year, or just under $46.88 a month? Either you are living in a 2300 sqft cave or you never turn a light on.
This is the set of massive hidden tax increases that team Obama is going to dump on America.
Much of what Obama will be spending to pay off his political constituents in 2010 will be paid for through inflation. By printing money needed to meet these obligations, the Great One will be taxing everything - including food and heating fuel - by driving up all associated costs through inflation.
Cap and Trade, Universal Health Care and other proposals rely on the economically ignorant voting population that the teachers unions have provided. They will learn this when their heating bills go sky high and fuel supplies dwindle.
I have just had the most insidious thought. Is this pre-planned to annihilate the poor and the elderly. Since they will be the ones most effected by the costs, they will not be able to heat their homes and they will probably die. Is this his intention. They way BO thinks, he would consider that saving money since then they would not have to pay out welfare or social security on these victims.
Maybe I am just paranoid, I don't know. But this has a really creepy feel to it. And no one can deny that the elderly (and most of them are on fixed incomes) are the ones that will suffer the most.
It will not only be the elderly and fixed income people suffering..remember jobs are being lost and people can not be on unemployment forever. About three months into obama's campaign for president I started researching him and at that time knew what kind of a person his is. I have never had a good feeling about him..nor do I think he has this country and its people at heart. Let me put it this way. I don't think he has sleepless nights wondering how he is going to take care of this country and the citizens.
Lorraine, you are paranoid. if BHO screws all the poor people, who will be left to vote for him? Poor people elected him by a wicked majority. The election results are published. He can't get reelected without them and we all know that is what politics is all about, reelection.
Obama lied!!! He said in his campaign that he would give tax cuts to 95% of americans, and also said he would be responsible. He and the lousy democrats(HITLERS) in control right now have increased our debt more in the last 3 months of their reign than all the other administrations put together for over the last 200+years!!!! He and the Hitlers are going to bring this country to it's knees.
As true loving AMERICAN'S we need to get together and call for special a special/emergency elections to vote these democrat loosers in the HOUSE, SENATE, and PRESIDENT out and get someone in there who will know how to be responsible with OUR, yes OUR, money. I don't want to work for the government, they should be working for ME, YOU, and every other AMERICAN in this great country.
Let's get the Hitlers out of washington dc.
Obama lied, liberty died on January 20, 2009.
The negative net worth (according to the Treasury Dept.) of the federal government is $59 trillion and rising rapidly. Federal spending now accounts for 45% of our economy. In 1929, that number stood at 12%. So the private sector (which employs people) has shrunk from 88% to 55% of total spending. 1/2 of our debt is owned by foreign nations - some friendly, some not so friendly. They can sell off that debt in a matter of a few days and collapse the entire economy of this country. Our economic peril won't end until politics is replaced by problem solvers. Yes, I am extremely Conservative. But I'd rather save the country and lose an election than the opposite. I will keep reciting these facts everywhere I go, and with everyone I talk with until someone finally listens.
This website I found is an awesome source of information:
Grandfather Economic Report - Home Page - by MWHodges
"(and yes, that is another phony use of "tax cut" which is actually a welfare check redistributed from taxpayers to the 42% of Americans who pay no taxes)"
Pardon me; you meant to say "pay no *income* taxes". I must confess that I don't understand why payroll taxes simply don't seem to count when folks talk about who does and doesn't pay taxes. Is it just a cheap trick to make the tax system look more progressive than it is? I mean, the money comes out of your paycheck just the same way in either case. Would you argue that the Earned Income Tax Credit program is a welfare check, because it refunds payroll taxes, and since those aren't *real* taxes, it's refunding money that was paid out of *actual* taxes, so it's scary and socialist in a way that refunding income taxes isn't?
As a thought experiment, I'd recommend that you stop paying your self-employment tax (if self-employed), or attempt to convince your employer to give you, rather than the feds, your portion of the Social Security and Medicare taxes from your paycheck, and see how "real" those taxes are.
Hi Grendel! Hey - I'll concede that payroll taxes are "real" taxes just as soon as you acknowledge the net effect on higher earners of the proposed payroll tax increases along with the marginal rate increases.
Of course payroll tax increases on higher earners would count as tax increases. As far as I know, the cap on Social Security taxes hasn't yet been lifted, though it's been proposed--is that actually likely to be put into effect any time soon?
But, sure, any change in payroll taxes should be counted when considering the taxes that the wealthy pay. I'm not, however, aware of any proposal to make the payroll tax rate any higher on the wealthy than it is on the not-so-wealthy (not to mention that wealthy people are more likely to have significant non-payroll income); factoring in payroll taxes, regardless of the proposed lifting of the Social Security cap, will not show a greater effect on higher rate payers. (Payroll taxes are regressive; if the cap were lifted, they would be a flat tax. Factoring them in makes the total tax structure look, respectively, less progressive and the same.)
All I know is I am the smallest of small business owners. My wife answers phones at home, while I work in the field. my business grossed just over 100k this year, and after expenses we made 48,328. that was with 2 people working full time and 2 kids at home. I feel poor, but they call me middle class..they raise taxes across the board, and ask me to pay a higher electric bill? I live in alaska..(and just so you know..no-one anD nothing lives in the anwar part) . My bill already went from 240 a month in dec to 560 a month in jan and 497 for feb. This administrations ideas are killing me even b4 they are initiated....we need more power plants, and more competition in the power field. I live on top of the biggest recourse of natural gas, but some people thousands of miles away say i cant have it, while they burn natural gas every day. get government out of the way, and let the states manage the states.
What does everyone expect from Democrats? They know how to spend money and they know how to print money but ask them if they know how people actually "earn" money! We have become a nation that gives to the non doers and takes from the doers. Why go to work to earn a 3% raise when you can sit on your behind on welfare and get a 16% raise? Why be honest on your mortgage application and pay your mortgage on time when you can be dishonest on your mortgage application and get a bail out from the government? This administration is an absolute joke but noone is laughing................
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I do not know how much more the American people will take before they decide that enough is enough and try to get this country out of the hands of the lunatics that are running Washington.
My business, which just 3 short years ago was almost making $300,000 gross, just this month alone I have barely made it to $6,000. Quite a drop. I have cut back on everything I can think of including advertising to try and weather this out and yet, I think the end result is that my business (which is my Sole Income) is fixing to be shut down.
I cannot afford Anymore taxes. I am taxed out.
I think that BO, Reid, Pelosi, Dodd, Frank and company need to have their faces put on wanted posters. They are criminal in their actions and are wrecking the Constitution