Waxman-Markey Bill Would Raise Electricity Prices $846 Billion

[Sunsettommy]

Heartland Institute

Environment & Climate News > August 2009
Environment > Energy
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Written By: H. Sterling Burnett
Published In: Environment & Climate News > August 2009
Publication date: 08/01/2009
Publisher: The Heartland Institute

EXCERPT:

The Waxman-Markey bill to restrict carbon dioxide emissions would cost $846 billion in the next decade alone, in the form of required payments for emissions allowances, according to a June 5 report from the Congressional Budget Office.

The bill has been approved by the U.S. House of Representatives and is pending action in the Senate.

The CBO findings support statements, by both critics and supporters of the bill, noting consumers will pay higher energy prices if carbon dioxide restrictions are imposed on the American public.


New, Hidden Tax

“Government likes cap-and-trade because it is a hidden, or indirect, tax for which industry, rather than Congress or the president, will get the blame when energy prices rise,” said Drew Thornley, an adjunct scholar with the National Center for Policy Analysis.

http://www.heartland.org/publications/en...llion.html
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Seems to me that Tax revenues will go down,when too much new taxes are imposed,whether they are direct or indirect.After all with less money available to buy something,less taxes will be collected.

[Steve Schulin]

The Democrats are driving this bill, and I sure am glad to see Republicans, like one quoted in the linked article, treating the bill as a "red meat" kind of issue. I left the GOP last spring when John McCain had won enough delegates to earn the party's presidential nomination. McCain's longstanding advocacy for similar cap-and-trade bill was reason enough to know I wouldn't support him.

I've joined with like-minded folks across the country in starting a new party -- America's Independent Party. We have adopted an innovative design for our party -- driven by precinct-level caucuses -- to avoid the inherent structural causes of the current dominant parties' failure. We quickly became the third-largest national party as measured by number of registered voters. We want to raise up citizen leaders who share our values and thus offer voters a better choice in as many elections as possible, as soon as possible. Please check us out at http://www.selfgovernment.us

[Mike Davis]

The CBO only claimed the cost of implimenting the bill not the actual cost after it is implimented. As each group passes on thier costs they will need to add in the cost of manpower plus profit ( if a company allows a 2% profit on 1 dollar and the price is now 2 dollars then the still have a 2% profit ). So instead of paying 1.02 you are now paying 2.04 for the same service. Or it might be 4.08 depending on how many hands it passes through. Think about the delivery costs which will be added with a related profit margin. That also means that amount will be taxed at the normal percentage.
Then wages will have to be increased to allow peopple to live which raises the cost . I think you will be able to see the circle this will cause when we pay 8 dollars for a loaf of bread that my parents charged 30 cents for in the 50s.

[Sunsettommy]

All businesses pass on most or ALL of the increase in taxes and other forms of increased cost of doing business to the customers.In reality it is the customers who gets the biggest hit,then in turn goes back on many businesses who now have reduces sales,due to the customers having less available cash to buy stuff with.

[mcclane]

obama has to pay for that stimulus somehow, and taxing energy is just the way to do it.

[Mike Davis]

The way to pay for th stimulus bill would be to reduce foriegn aid and corporate welfare. The are also many "Pork " projects such as climate research where little harm would be done with reduced funding.