May 16th 2009
There Goes The Middle Class Tax Cut
In a shell game of incredibly devious intent, our oh-so-popular president proposed to slap a burdensome carbon tax on every man, woman and child from Bangor to Chula Vista in order to fund his vaunted middle class tax cut. Americans either loved the idea or were dazzled blind by the idea of having America’s first black president, and they voted for the guy.
Well, goodbye middle class tax cut.
Obama is discovering that Americans – even many Americans who happen to have a “D” after their name and who hang out on Capitol Hill – are not keen on his carbon taxes.
House Democrats tried to sneak out at the last hour before the weekend touted a weakened global-warming package Friday, releasing a compromise plan that undercuts President Obama’s hopes to raise nearly $650 billion from the climate bill to pay for middle-class tax cuts.
Democrats on the House Energy and Commerce Committee, who have been locked in debate over how to tax carbon-dioxide emissions while protecting American industries, said Friday that their revised plan would give away 85 percent of the plan’s carbon permits for free.
Under Mr. Obama’s original plan, businesses and other users would be required to shoot themselves in the head in the name of global warming purchase all of the permits through an auction, with the proceeds returned to middle- and lower-class taxpayers. (WashTimes)
The original Waxman-Markey bill, with its full-blown, nasty carbon tax, was blown out of the water by Dems from states dependent on coal and oil (that would be about 50 states, by my count).
So we have a victory of sorts in the works … but a frightening one. Waxman-Markey still puts a cap-and-trade mechanism in place; hence Obamamouth Robert Gibbs says the prez would be happy to sign even the watered down bill. You bet he would. It puts a cap-and-trade infrastructure in place, taxes 15 percent of American industry, and starts the clock ticking towards the time when all those free credits start costing.
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May 20th, 2009 at 6:31 am
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