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Old 07-06-2009, 05:57 AM
 
12,869 posts, read 13,682,363 times
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CBO Cost Estimate of Cap & Trade Pulls Out All the Gimmicks - Mises Economics Blog

http://www.instituteforenergyresearc...ey-energy-tax/

in part:Rags to Riches: How the CBO Transforms a Stealth Tax Into a Phantom Tax Cut

There are several major flaws with the CBO approach, but perhaps the most outrageous example of sleight of hand is the CBO’s focus on after-tax income. Because Waxman-Markey will raise prices more than incomes, households will necessarily become poorer. This will push households into lower tax brackets—and thus have lower tax liabilities to the tune of roughly $8.7 billion. Normal people would consider this to be a downside of Waxman-Markey. CBO is not normal. It considers this $8.7 billion as an addition to total household income—money from heaven!—and goes about celebrating the effect of this policy without saying a thing about the cause.


Beyond the absurdity of translating rising prices into a benefit for households—on the basis that poorer people pay less in taxes—the CBO’s treatment of income tax revenues is inconsistent with its treatment of carbon allowance auction receipts. The CBO study acknowledges that households will pay higher energy prices partly because businesses will “pass on” the cost of buying emission allowances. But CBO didn’t include this component as a net cost to households, because the government could "spend the auction receipts and thus recycle some of the money back into households".
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Old 07-06-2009, 06:05 AM
 
Location: Tennessee
35,935 posts, read 35,902,108 times
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Originally Posted by cobolt View Post
Well, predicatably, the Great Obama will take the stage again today to tell us why things are so great, in spite of these new unemployment numbers. Didn't he say the other day "the stimulus has done its job" ???
The President's job is Cheerleader In Chief. It's his actions that are killing us.
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Old 07-06-2009, 12:05 PM
 
1,352 posts, read 1,785,100 times
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World stocks, oil down amid waning recovery hopes...where's Romans now with her brilliant analysis ...

World stocks, oil down amid waning recovery hopes - Yahoo! Finance (http://finance.yahoo.com/news/World-stocks-fall-as-oil-apf-4133141821.html?x=0&.v=5 - broken link)
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Old 07-06-2009, 03:05 PM
 
5,444 posts, read 5,358,666 times
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Originally Posted by user_id View Post
If you disagree with the estimates than provide real information that shows otherwise.
There is NO real information Sherlock.....that's the point. It's ALL made up. There is no "climate change". I'm from the government and I'm here to help you, lol.
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Old 07-06-2009, 05:59 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,192,512 times
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Originally Posted by Brave Stranger View Post
There is NO real information Sherlock.....that's the point. It's ALL made up. There is no "climate change". I'm from the government and I'm here to help you, lol.
All the estimates are made up? Then how do you know its a bad thing?

Moving away from fossil fuels is about far more than climate change.
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Old 07-06-2009, 06:06 PM
 
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And it going to be very costly and is still a long way off as none now makeup 1% of fossil fuels with wood be the closest.
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Old 07-06-2009, 06:20 PM
 
5,444 posts, read 5,358,666 times
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Originally Posted by user_id View Post
All the estimates are made up? Then how do you know its a bad thing?

Moving away from fossil fuels is about far more than climate change.
Common sense tells me so. I'm sitting in a state that was covered in a mile & a half ice sheet 10,000 years ago. The climate changes all the time. Wind & solar are not going to take the place of oil & gas anytime soon. Check out how the cap & trade system woked out for Spain and tell me that's what you want for the USA ?
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Old 07-06-2009, 07:02 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,192,512 times
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Quote:
Originally Posted by Brave Stranger View Post
Common sense tells me so. I'm sitting in a state that was covered in a mile & a half ice sheet 10,000 years ago.
Common sense tells you what? If all the estimates are fake how can you determine the worth of the program?

So because there was an ice age 10,000 years ago humans are not causing climate change today? huh?

Quote:
Originally Posted by Brave Stranger View Post
Wind & solar are not going to take the place of oil & gas anytime soon.
Wind and solar are not the only options. And yes, if there is no incentive to switch then its not going to happen "anytime soon", rather when we must switch. Gradually decreasing our usage of fossil fuels over the next 1~2 decades is better than being forced to do it in 1~2 decades.
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Old 07-06-2009, 07:25 PM
 
9,336 posts, read 20,184,937 times
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Quote:
Originally Posted by tonyandclaire89 View Post
World stocks, oil down amid waning recovery hopes...where's Romans now with her brilliant analysis ...

World stocks, oil down amid waning recovery hopes - Yahoo! Finance (http://finance.yahoo.com/news/World-stocks-fall-as-oil-apf-4133141821.html?x=0&.v=5 - broken link)
what will people say when the stock market goes up again in several weeks?
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Old 07-06-2009, 08:35 PM
 
5,444 posts, read 5,358,666 times
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Quote:
Originally Posted by user_id View Post
Common sense tells you what? If all the estimates are fake how can you determine the worth of the program?

So because there was an ice age 10,000 years ago humans are not causing climate change today? huh?


Wind and solar are not the only options. And yes, if there is no incentive to switch then its not going to happen "anytime soon", rather when we must switch. Gradually decreasing our usage of fossil fuels over the next 1~2 decades is better than being forced to do it in 1~2 decades.
What do you know about science, lol. Nothing. We can't figure out the weather for next week but week know all about climate change ? I mentioned the ice age because we still don't understand why that happened. You do know the earth has been cooling for the last 10 years ? I've asked you twice to comment on Spain and their cap & trade nightmare ? We will be using fossil fuels in 100 years (oil & gas) and we should be using more nuclear.
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