Capping and Taxing our Economy to Death

That's what I call it. I've also heard it called "Cap and Tax" or my favorite, "Crap and Tax." Whatever you call it, officially it's the Cap and Trade part of the American Clean Air and Security Act (H.R. 2454), authored by House Democrats Henry Waxman (D-CA) and Ed Markey (D-MA). As you know, this legislation was passed in the House yesterday, by a vote of 219-212. (If you don't know, then please stop reading this because you must not care.)

If this bill gets signed into law, it will be one of the largest taxes on the production of energy ever. This legislation seeks to cap fossil-fuel emissions and add a tax on them. To emit a ton of CO2, producers will need to purchase an allowance or credit. Now, these allowances can be sold by companies that produce smaller amounts of CO2 and subsequently purchased by companies that produce more. (Hence the term "trade.) Despite the terms "allowance" and "credit," it still amounts to a fee to produce energy.

Because of this fee, or tax, it will cost utility companies more to produce energy. These costs will be passed on to the consumer, naturally. By 2035, electricity prices will increase by 90%, raising an average family's energy bill by $1,241. And that's just the direct cost. Because energy costs will be higher, consequently, production costs will be higher. By adding this to the higher energy bill, the total cost for the consumer will be $4,600 (once again, by 2035).

Another result of the increased energy and production costs is severe unemployment. That's what happens when it costs more for companies to make stuff. To cut costs, companies will have to cut jobs to keep up. How bad? Over 2 million during peak years. (And that's after all the green jobs the bill's proponents promise.) Jobs will either be lost outright, or moved overseas as certain companies realize they cannot survive in the U.S.

Some other effects (by 2035):

• Reduced aggregate gross domestic product by $9.4 trillion (that's really scary!)
• Increased gasoline prices by 58%
• Increased natural gas prices by 55%, and
• Increased national debt per person of $28,728

These are all adjusted for inflation.

All this to lower the climate by hundredths of a degree by 2050. Doesn't seem worth it, does it? Now I know that all this economic pain is still 26 years out. But think of it this way: if you've just had a child, he will be knee-deep in this mess right around the time he gets married and buys a house. Not a way to start your adult life, is it?

By the way, I know I'm a genius but I didn't come up with all this myself. I encourage everyone to go to the Heritage Foundation's analysis of this bill. You will also find articles on other important issues and topics, as well.

I hope that I have opened your eyes to this destructive legislation. If you still support it, well then, I guess no one can help you.

Anyway, don't mind me, I'm just rambling.