Analyzing cap-and-tax
July 4, 2009 at 7:53 pm | In Economics, U.S. Politics | 3 CommentsAfter being out for several days, I’m way behind on my Rush Limbaugh podcasts, and am just now listening to last Friday’s show. During the second hour, the Maha Rushie did a fantastic analysis of the job-killing effects of cap-and-tax, which, oddly, the Democrats are pitching as a job-creation bill. Yeah, the same way the economic stimulus package was supposed to create jobs.
“But on second thought, cap and trade is much more than that. It kills jobs.” The Heritage people have analyzed this. “Over the 2012-2035 timeline, job losses average over 1.1 million. By 2035, a projected 2.5 million jobs are lost below the baseline (without a cap and trade bill). Particularly hard-hit are sectors of the economy that are very energy-intensive: Manufacturers, farmers, construction, machinery, electrical equipment and appliances, transportation, textiles, paper products, chemicals, plastics and rubbers and retail trade would face staggering employment losses as a result of Waxman-Markey,” this bill. “It’s worth noting the job losses come after accounting for the green jobs policymakers are so adamant about creating. But don’t worry, because the architects of the bill built in unemployment insurance,” too.
You want to hear how that works? They know that the bill is going to cream you! Listen to this. Section 432, Energy Refund Program For Low Income Consumers: “(1) The Administrator of the Environmental Protection Agency, or the agency designated by the Administrator shall formulate and administer the ‘Energy Refund Program’. (2) At the request of the State agency, eligible low-income households within the State shall receive a monthly cash energy refund equal to the estimated loss in purchasing power resulting from this Act.” Now, this is just for the poor. Pay attention. This is a part where the poor get direct deposit transfers of your money. They know your “purchasing power” will be lost resulting from this act! I’m reading from the act.
Waxman-Markey-Madoff Directly Redistributes Wealth to the “Poor”
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