Friday, June 26, 2009
CAP AND TAX
That's Hopey-Changey during the campaign openly admitting that his Cap & Tax legislation is going to skyrocket the cost of electricity. Electricity, you know that thing that powers everything we do. From heating water, running a computer, making ice in the fridge, or watching TV, it will all cost more. A LOT MORE!
And why is Hopey-Changey doing all this? It's all about saving the planet from the myth of man-made global warming, and further attacking American capitalism.
The WSJ pretty much sums it all up.
The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.
Here is the SPONSOR OF THE BILL, Henry Waxman, admitting he doesn't know the details about the bill they are dead-set on ramming down our throats.
Posted by Joaquin at 7:36 AM