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The George Marshall Institute has conducted a study about the economic impact of the Cap and Trade. GMI is a non-profit whose mission is to improve the use of science in making public policy. Their current program emphasizes issues in national security and the environment. They promote unbiased and scientifically accurate assessments and "fight" special interest groups which they feel misuse and distort science.
GMI's findings on the cost of Obama's Cap and Trade program:
Quote:
... the cap-and-trade approach is the equivalent of a permanent tax increase for the average American household, which was estimated to be $1,100 in 2008, would rise to $1,437 by 2015, to $1,979 in 2030, and $2,979 in 2050. ....
job losses attributable to cap-and-trade range in the hundreds of thousands. ....
[LEFT]Estimated GDP losses vary widely, from a 0.3%-0.5% to 3% drop in GDP below the business-as-usual projections in 2015 and a 1% to 10% drop in 2050. http://www.marshall.org/pdf/materials/636.pdf [/LEFT]
The Congressional Budget Office ... estimates that the price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year..... three middle quintiles 2.9% to 2.7% of income .... rich would pay 1.7%. Barack Obama's Cap and Trade Program Is a Tax on the Working Class - WSJ.com
However, as later stated in the latter article and discussed in other articles which can be found on the internet -- some monies generated from the Cap and Trade will be paid to the poor and low-income. Not directly stated - but the way I read it - it's a new welfare program.
[LEFT]As stated in the Wall Street Journal article,
[LEFT]Another report states that Obama proposes using about 80 percent of the revenue, about $526 billion, to pay for tax credits for low- and middle-income people to help offset higher energy costs.
Any suggestions on what we can do to get our govt to slow down on their GW policies and take sensible action to improve our environment rather than extreme measures which will be detrimental to our economy? I think everyone want a cleaner, better planet. But is our govt going to the exteme?
There is just toooooooo much question as to the validity of man-made global warming/climate change.
To the extent global warming was ever valid, it is now officially over. ....Weather and climate change are natural processes beyond human control. To argue otherwise is to deny the factual evidence. David Deming is a geophysicist, an adjunct scholar with the National Center for Policy Analysis and an associate professor of arts and sciences at the University of Oklahoma.Washington Times - DEMING: Global warming freeze?
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