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I heard on the radio on my way home from work last night, that there is a location requirement attached to whether a home mortgage would be approved or not. I cannot remember the term that was used: "location incentive" or something of that sort. What it basically does is force people from the suburbs and into densely populated areas. It basically infringes upon your choice as to where you can live. I'll see if I can find the actual wording.
I follow Peter Schiff's weekly blog, and he sums it up pretty well:
"Disguised as an environmental bill, this proposal would merely be another gigantic tax. The lion’s share of the new revenue is already committed to politically connected special interests that will reap windfalls at everyone else’s expense. To make matters worse, the bill before Congress amounts to a blank slate, with the EPA empowered to draft the details in any manner they see fit. If Congress is going to shoot the economy in the knee, they should at least be required to pull the trigger themselves.
“Cap and trade” will do nothing to reduce pollution, yet it will drive up production costs throughout the economy – rendering us even less globally competitive that we are today. In addition to the huge cost of paying the tax, its enforcement involves the creation of an entire new bureaucracy, the costs of which will be borne by American consumers in the form of higher prices."
If the bill passes the senate as written, the Real Estate industry will collapse. If you thought it couldn't go any further south, think again.
The bill contains language that will mandate an EPA inspection on any home or office building and that inspection will require that the home must meet current EPA standards for energy efficiency. So, if you are buying homes in disrepair, you essentially cannot buy those homes from banks or other investors unless and until the home is brought up to EPA mandated standards for energy efficiency. You will also be required to have energy efficient appliances in the home as well as energy efficient windows and doors and a solar reflective roof(1000's of dollars out-of-pocket expense retrofitting an existing roof). You know. The things you were going to fix when you bought it and the reason for your discount on the property at purchase? Yeah. That. Your discount is going to be mandated out and so will the idea of buying cheap, fixing, and selling will be moot. As if all of that isn't bad enough, the EPA standards will require that your home is fully up to a federalized building code before selling. The source of the federal building code? You probably guessed. California's building code. You know. The state that is about to go bankrupt because it has overspent its budget? Yeah... that one.
This is what big government is supposed to do, rule its people. After all we are their property my fellow peasants.
Just listened to MIT professor Richard Lindzer on Boston radio for an hour......he took the fraud that is "climate change" apart. Sad to see Americans falling for this scam.
Just listened to MIT professor Richard Lindzer on Boston radio for an hour......he took the fraud that is "climate change" apart. Sad to see Americans falling for this scam.
Gore has a lot of powerful backers. To question his theory with any of the new evidence gets immediate slander. Gore also refuses to debate anyone on this as well, saying it's "settled science".
There is a lot of politics and emotion tied up in climate control. It's no longer about science.
Remember though folks, this still has to pass the Senate vote so it's not a done deal.
In the past though the Senate has rolled over so I'm not too optimistic that they will stop this.
The House has been the ones to say NO and this time they said YES.
And any democratic senator that is facing re-election better be on-board or he/she will not get support of the party. Ron Paul mentions that several house democrats voted yes but in private hope that it fails the Senate. They obviously fear the wrath of voting no within their own party. The only democrats who voted yes were strategically within districts adversely affected by cap and trade provisions. Paul claims if the 8 Republicans that voted yes had voted no it was well known that those democrats who voted yes would have voted no instead.
I have read that Cap and Trade constitutes the biggest tax increase in the history of America. If passed, it is estimated to cost every single American household an additional $3100 annually. So everybody who has been applauding income tax increases on the upper tiers just got invited to the party. The invite will cost about $260/mo. Won't that be fun?
Oh, and all those "green jobs" auditing and retrofitting real estate-- guess what? Real estate won't be selling, so few will be needing an energy audit or retrofitting. So not so many new jobs, but lots of lost ones, as industries related to real estate will be downsizing. And the banks will need more bailout money, because homeowners will be walking away in droves and people will be afraid to buy. Why buy when the energy standards can change with technology-- or on the whim of GovCo-- and you could be saddled with a financial albatross?
The domino effect could be huge and the pressure is all downward, in an already-recessionary environment. What a stupid bill.
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