Out of Control Policy Blog

Cap and Trade Cost State-by-State

Nate Silver at the FiveThirtyEight political blog pulled together a map series of the tax cost per state the Waxman-Markley cap and trade energy bill passed by the House on Friday. (HT: DailyDish)

"...the Congressional Budget Office recently put out an estimate (.pdf) of the costs of the Waxman-Markey cap-and-trade bill. The CBO estimated that the average American household would wind up paying a net of $175 in additional energy costs in the year it benchmarked, which was 2020."

Cost of Waxman

See here for the rest of the analysis and series of maps.

Anthony Randazzo is Director of Economic Research


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Comments to "Cap and Trade Cost State-by-State":

John Wallace | June 28, 2009, 8:08pm | #

CAP AN TRADE: A DISASTER FOR AMERICA

On June 26th, the House of Representatives passed the American Clean Energy and Security Act of 2009 by a vote of 219 to 212. The bill, also know as “Cap and Trade” legislation, should more appropriately be called “Cap and Tax” legislation because the federal government is trying to “CAP” Americans’ Freedoms and then “TAX” the necessities of living like gas, food and even heating oil.

This bill, like so many other pieces of major federal legislation in recent years, was rammed through congress by the Democratic leadership without even giving the members the time to read it, let alone understand it, all in violation of their now worthless promise to create a more transparent legislative process. The Democrats added 300 pages of amendments to the legislation at 3:00AM on the day of the vote, giving the members of congress less than 12 hours to read the whole 1,200 page bill. Rep. Joe Barton asked repeatedly during the debate on Friday afternoon if there was even a copy of the bill anywhere in the House chamber and Democratic Rep. Ellen Tauscher, who was sitting in the speaker’s chair, repeatedly avoided the question. No full copy of the legislation was ever produced. What was the rush and why were the American people and their elected representatives denied the ability to read the bill before it was voted on? How does this help the American people?

Even the proponents of this massive tax bill acknowledge that it would only have a minimum impact on future concentrations of greenhouse gases and would only reduce the earth's future temperature by 0.1 to 0.2 degrees C by 2100, an amount too small to even notice. The truth is that there is no Global Warming crisis. That is why the proponents of global warming had to change the name to “climate change” because the earth is actually in a cooling cycle. All of the hype and threats of a looming climate crisis have been carefully manufactured and generated solely for the purpose of getting this massive bill through Congress, with a minimum of debate, before the American people realize that they have again been conned, lied to and of course, required to pay even more repressive taxes. How does this help the American people?

The current Democratic majority in Congress, aided by some cowardly Republicans, seem to be constantly working against the freedom, liberties and desires of the American people. They love the “cap and trade” concept because there is a fraudulent public perception that they are taxing evil corporate “polluters” and protecting the American people from global warming and pollution. This is simply not the truth. History shows us that once the government is allowed to create a scarce new commodity like the “rights to emit certain levels of carbon” and then creates the government control mechanism that mandates that all businesses that emit carbon must buy or otherwise obtain these “rights” from the government, the cost for these “rights” is inevitably passed on to all consumers in the form of higher prices at the wholesale and retail level. How does this help the American people?

Peter Orszag, former Director of the Congressional Budget Office and now Mr. Obama’s Budget Director, testified before Congress back in 2008 that “price increases are essential to the success of a cap-and-trade program.” The American Petroleum Institute claims this legislation would mean $4.00 or more for gas at the pump and will cost Americans billions of dollars in higher costs, kill jobs and will not deliver any of the environmental benefits promised. The Black Chamber of Commerce estimates the bill will result in a net loss of over 2 million jobs a year, that is in excess of any new "green" jobs that might be created. How does this help the American people?

Wouldn’t it be simpler just to impose stiff fines on the companies that pollute? Putting a price on these “rights” to carbon emissions is regressive because the burden to pay for these rights will ultimately fall disproportionately on the nation’s poor and middle-income households who spend a larger percentage of their paychecks on things like gas to drive to work, groceries or home heating. It also allows big polluters with a lot of money to keep polluting as long as they buy or somehow obtain these new “rights.” How does this help the American people?

The House version of the American Clean Energy and Security Act of 2009 is a very clever scheme devised to redistribute income and wealth. Unlike Robin Hood, who took money from the rich to give to the poor, the federal government will be acting more like the evil Sheriff of Nottingham, because this legislation is designed to take money from the working class and the poor, in the form of high prices and give it to the Wall Street “green tech” investors, private bankers and “green energy” special interest groups who will be involved in the creation of a carbon emission “rights” trading system. How does this help the American people?

Not only will the cost of this Cap and Trade legislation drive up the price of everything that is manufactured in the United States, it will also make American made products more expensive and a great deal less competitive on the world markets. If enacted into law, it will begin the process of a massive transfer of manufacturing jobs and wealth from the United States to second and third world foreign countries that have no such restrictions on their manufacturing and energy producing companies. How does this help the American people?

This is not just a new massive tax increase on hard working American citizens, but rather it is a premeditated and calculated move to further take control of the American economy by the Politburo in the current federal government. This current “cap and trade” bill is bad legislation. It has been written by corrupt politicians and special interest groups for the benefit of those groups. If enacted as written, this bill will be as disaster for Americans in terms of the economy and their individual freedoms and liberties.

Americans must remember that we cannot fully enjoy our freedoms and liberties in America unless our government is limited. For as our government grows and becomes more intrusive, as it is today, it is our freedoms and liberties that are becoming limited!

John Wallace
www.4FLS.com

limo | July 1, 2009, 2:36am | #

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