Cap and Tax

The Looney Left Report

The Wall Street Journal has an article today on the cap-and-trade bill (Waxman-Markey) the Democrats are trying to ram (or Rahm) through congress. It is the biggest tax hike in history. The Democrat leftist loons are hell-bent on bankrupting everyone.

The article states, in part:

House Speaker Nancy Pelosi has put cap-and-trade legislation on a forced march through the House, and the bill may get a full vote as early as Friday. It looks as if the Democrats will have to destroy the discipline of economics to get it done.

When the Heritage Foundation did its analysis of Waxman-Markey, it broadly compared the economy with and without the carbon tax. Under this more comprehensive scenario, it found Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 for a family of four. As the bill's restrictions kick in, that number rises to $6,800 for a family of four by 2035.

Even as Democrats have promised that this cap-and-trade legislation won't pinch wallets, behind the scenes they've acknowledged the energy price tsunami that is coming. During the brief few days in which the bill was debated in the House Energy Committee, Republicans offered three amendments: one to suspend the program if gas hit $5 a gallon; one to suspend the program if electricity prices rose 10% over 2009; and one to suspend the program if unemployment rates hit 15%. Democrats defeated all of them.

Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can't repeal that reality.

To read the full article, go here.

If this bill passes, you will have to pay much more for utilities, gasoline, heating oil, food and everything else that relies on transportation.

Contact your congress member today and tell him/her to not vote for this ridiculous bill!