Sunday, July 05, 2009
Obama's Cap and Trade Program is a Tax on the Working Class
This Wall Street Journal piece should dispel any doubt that cap and trade is in fact a tax on the working class. According to the article, "hit hardest [ by the cost of the new program] would be the 95% of working families" Mr. Obama keeps mentioning, usually omitting that his no-new-taxes pledge comes with the caveat "unless you use energy." Putting a price on carbon is regressive by definition because poor and middle-income households spend more of their paychecks on things like gas to drive to work, groceries or home heating."
Now that the bill has passed the U.S. House, the only salvation will come from the U.S Senate.
The cap-and-trade bill is a massive new tax on American families and American businesses. It's especially bad public policy to pass such a huge new tax burden at a time when many families already face economic hardship.
If the American people understand what this bill does, it will die as it should in the U.S. Senate.
Now that the bill has passed the U.S. House, the only salvation will come from the U.S Senate.
The cap-and-trade bill is a massive new tax on American families and American businesses. It's especially bad public policy to pass such a huge new tax burden at a time when many families already face economic hardship.
If the American people understand what this bill does, it will die as it should in the U.S. Senate.
Labels: Cap and Trade, tax on working class
