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By Gene Quinn |
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In January 2008, when Barack Obama was Candidate Obama he said: “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.” See for yourself, play the YouTube clip below.
But then, earlier today, President Obama said in his weekly address what he has been saying for a few days, what his Press Secretary has been saying, and what Congressional Democrats have been saying all week, namely that the increased cost for Americans as a result of passage of cap and trade will approximate the cost of a postage stamp each day. Specifically he said:
This legislation has also been written carefully to address the concerns that many have expressed in the past. Instead of increasing the deficit, it is paid for by the polluters who currently emit dangerous carbon emissions. It provides assistance to businesses and families as they make the gradual transition to clean energy technologies. It gives rural communities and farmers the opportunity to participate in climate solutions and generate new income. And above all, it will protect consumers from the costs of this transition, so that in a decade, the price to the average American will be just about a postage stamp a day.
See for yourself:
But even Warren Buffett, known as the Oracle of Omaha due to his financial genius and a strong and vocal Obama supporter during the last election cycle, calls cap and trade a “its huge tax and there is no sense calling it anything else… and it is a fairly regressive tax… very poor people are going to pay a lot more for electricity.” See for yourself in the YouTube clip below.
Americans understand that this is no jobs bill. Cap and trade is nothing more than a regressive tax that will hurt those among us who are most in need of help, namely the poor and senior citizens living on fixed incomes. Ironically, it was these two groups that disproportionately contributed to Obama’s victory just a few months ago. We told you he was going to tax everyone, at every income level and as it turns out we were right. You simply cannot afford to do everything Obama wants to do without impacting everyone, on every income level and that will mean only one thing… a prolonged and unnecessary recession that could well turn to a depression. Is that the change you voted for?
Tags: cap and trade, electricity rates, obama, regressive tax, tax, warren buffet
Posted in Economy, Obama, Taxes, US Economy | Comments (1)
June 27th, 2009 at 11:16 pm
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Let me know if you’re interested.
Thanks..