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Sean Hannity hosted Ralph Reed, who cited a study by the Tax Foundation, which, he said, "shows" that "the cap-and-tax burden falls heaviest on the poor and the lower middle class." However, the study did not consider the effect of the government's distribution of revenue generated by a cap-and-trade system to lower-income households.
Yup he did miss that. lower income folks will get a direct deposit check from the government every month that makes up the difference between energy costs before and after all these changes.
Let's just hope these low income folks use that money for their bills.
Personally I think direct deposit to their banks accounts is the wrong way to do this.
edit: This really does smell like a redistribution of wealth.
Last edited by HappyTexan; 07-02-2009 at 06:13 PM..
This should be required reading Cap and Trade is worse than I thought.
same here.
and i would've thought that was not possible..
from your link:
Quote:
Consumers Would Be Likely to Bear Most of the Cost Burden
Researchers conclude that much or all of the allowance
cost would be passed on to consumers in the form of
higher prices.3 Those price increases would disproportionately
affect people at the bottom of the income scale.
According to the CBO analysis (http://mediamatters.org/rd?to=http%3A%2F%2Fcbo.gov%2Fftpdocs%2F103xx%2Fdoc 10327%2F06-19-CapAndTradeCosts.pdf%23page%3D3 - broken link), the "net impact" of the energy act's cap-and-trade system "would reflect both the added costs that households experienced because of higher prices and the share of the allowance value that they received in the form of benefit payments, rebates, tax decreases or credits, wages, and returns on their investments.
Sean Hannity hosted Ralph Reed, who cited a study by the Tax Foundation, which, he said, "shows" that "the cap-and-tax burden falls heaviest on the poor and the lower middle class." However, the study did not consider the effect of the government's distribution of revenue generated by a cap-and-trade system to lower-income households.
So first they will break us then they will force us on to mandatory welfare... Once again, the classic leftist statist drone spin of INFORMATION. Ridicule the messenger and the story becomes irrelevant. Regardless of what you think of Hannity or any other conservative, or how much time you spend trying to ridicule them, it does not change the fact that "cap & tax" is total BS!! A complete and total hijacking of our economy and our liberty by an out of control, rogue government.
In contrast, if the government sold allowances and used
the revenues to cut corporate taxes, the program would
have a more regressive effect than the cap-induced price
increases alone, lowering the average income of households
in the bottom quintile by 3.0 percent but raising
the average income of households in the top quintile by
1.6 percent.
Sean Hannity hosted Ralph Reed, who cited a study by the Tax Foundation, which, he said, "shows" that "the cap-and-tax burden falls heaviest on the poor and the lower middle class." However, the study did not consider the effect of the government's distribution of revenue generated by a cap-and-trade system to lower-income households.
It is a farce and will not have any climate change affect for decades. It is another waste of money but lots of smoke and mirrors. It won't pass the Senate without lots of pork.
It is a farce and will not have any climate change affect for decades.
Well, not to late to start I'd say...
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