Posted by Tina
The policies of the current dictatorial regime contain elements that will make ordinary living more burdensome and expensive than ever. Healthcare is already raising both economic and health concerns. The new Cap and Trade is attracting similar criticisms. The bill will severely limit financial options and opportunities for every American. It will cause ever greater hardships for the poor and for those on limited incomes. It will cause unemployment to rise and some businesses to go out of business. It will make a select few very very wealthy and more powerful but it will do little, if anything, to change the C02 levels in the atmosphere. In third world countries this type of power and control in the hands of leaders is called oppression.
The following assessment is not pretty, but we at PS would be foolish not to pass it on. Whether we can do anything to stop this bill or not we should at least be prepared for what will come down the pike in the years following its implementation.
The “American Power Act”, a name chosen for its red, white, and blue appeal, is the new name for cap and trade legislation now under consideration in our Congress.
(Is the new name an attempt to recapture independent tea partiers deemed too ignorant to notice the ruse? If so don’t bother, they aren’t the dolts you take them for).
Read the following excerpt, then follow up with some research of your own, and let the ominous realities of this underhanded cap and trade scheme sink in:
“Cap and Trade is a Nation Killer,” by Alan Caruba – Canada Free Press
The Institute for Energy Research commissioned Chamberlain Economics (see here) to do an economic and distributional analysis. Here are some of their findings:
The American Power Act would reduce U.S. employment by roughly 522,000 jobs by 2015, rising to more than 5.1 million jobs by 2050.
U.S. households would face a gross annual burden of $125.9 billion per year or $1,042 per household. The costs would be disproportionately borne by low-income households and senior citizensIn July 2009, Senators Dianne Feinstein (D-CA) and Olympia Snow (R-ME) introduced a bill to make the Commodity Futures Trading Commission the sole regulator of the carbon market that Cap-and-Trade creates. It is an independent agency of the federal government. Here are some facts the mainstream media is not reporting:
The chairman of the CFTC is Gary Gensler. Formerly employed by Goldman Sachs, he was nominated by President Obama.
Goldman Sachs is a part owner of the Chicago-based exchange where carbon allowances would be traded.
Goldman Sachs has spent millions of dollars lobbying for Cap-and-Trade legislation in anticipation of making billions at the expense of taxpayers and energy consumers.
Goldman Sachs employees are heavy contributors to the Democrat Party, giving it more than $4.4 million in the 2008 election. Barack Obama’s campaign received more than $997,000.
Utilities and investment banks in the U.S. and Europe see carbon trading, a wholly fictitious new financial instrument, as a huge new profit center. Carbon trading could top $1 trillion a year by 2020.
This totally artificial “market” will create a “bubble” that, when it bursts, will dwarf the losses that have occurred in the sub-prime mortgage meltdown that caused the current financial crisis.
Meanwhile, hidden within the Cap-and-Trade bill is a provision prohibiting homeowners from selling their homes unless they completely retrofit their homes to comply with energy and water efficiency standards. The costs will, for many, make it impossible to sell their home. (emphasis mine)
A Wall Street Journal editorial stated that “The whole point of Cap-and-Trade is to hike the price of electricity and gas…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…Americans should know that those Members (of Congress) who vote for this climate bill are voting for what is likely to be the biggest tax in American history.”
Blinded by their excitement at managing yet another sector, coveting the prospect of a new revenue stream, bent on saving the world (as if they could), and needing deeply to “just do something” the inventors and investors of this new scheme fail to care, or consider, the negative impact of this legislation regardless repeated warnings of economic ruin on a very personal level for most Americans. But then, they refused heed, and indeed arrogantly scoffed, at warnings about Fannie and Freddie too, and we all know how well that turned out!