So this afternoon, the Cap and Trade tax amendment to the budget bill passed with a vote of 54-43…. one step closer forcing this into reality. Of course this is a disaster of epic proportions.
First of all let’s talk about how much this will cost the average American. From Anthony Fabiano:
If a new program will initiated, the average American household would have to pay $800 to $1400 more a year in energy bills (electric, gas, etc). Even more liberal scholars and foundations note that the potential increases hit hard at every American’s check book. Add to that an increase in electricity prices by 35% to 65% and your Obama Tax Credit magically disappears into thin air.
So in short, Americans are so poor they can’t afford health care and need welfare and companies that “need” government assistance… but they’re not concerned with the extra burden that this will place on American households. So much for that poor people love, Democrats. Not to mention businesses, as their energy usage is way above those of the average household.
One of Obama’s biggest selling points was the creation of jobs that cannot be outsourced. This is also a huge fallacy, as anyone who pays attention knows, but let’s think this through. Businesses will outsource when operations become too expensive domestically. That’s the nature of business, and as of right now, there are still some shreds of free market left. A Wall Street Journal opinion piece claims that this will usher in the “greatest outsourcing boom in history”, and will most likely negate any decrease in CO2 we achieve inside our borders by increasing CO2 output in less energy efficient nations.
Meanwhile, carbon trade barriers would almost certainly violate U.S. obligations in the World Trade Organization. Since carbon energy cuts across so many industries, a tariff would presumably have to hit tens of thousands of products. Any restriction the U.S. imposes on imports can also just as easily be turned around and imposed on U.S. exports, whatever their carbon content.
Why is nobody thinking this through? While prominent liberals have spoken out against this, many of the Congressional GOPers rolled over and allowed it into the budget bill. This makes my head hurt.