Job losses are so certain under this new cap-and-tax plan that it includes a provision accommodating newly unemployed workers from the resulting dried-up energy sector, to the tune of $4.2 billion over eight years. So much for creating jobs.
In addition to immediately increasing unemployment in the energy sector, even more American jobs will be threatened by the rising cost of doing business under the cap-and-tax plan. For example, the cost of farming will certainly increase, driving down farm incomes while driving up grocery prices. The costs of manufacturing, warehousing and transportation will also increase.
The ironic beauty in this plan? Soon, even the most ardent liberal will understand supply-side economics.
The Americans hit hardest will be those already struggling to make ends meet. As the president eloquently puts it, their electricity bills will "necessarily skyrocket." So much for not raising taxes on anyone making less than $250,000 a year.
Even Warren Buffett, an ardent Obama supporter, admitted that under the cap-and-tax scheme, "poor people are going to pay a lot more for electricity."
For those that would wave Palin's words off, denying that Obama said such a thing, obviously they haven't been watching the news, he said it and it is captured on video. (Shown below)
His exact words:
The problem is not technical, uh, and the problem is not mastery of the legislative intricacies of Washington. The problem is, uh, can you get the American people to say, “This is really important,” and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake. Uh, and climate change is a great example.
You know, when I was asked earlier about the issue of coal, uh, you know — Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.
No matter Obama's promises to only tax the rich, who are paying through the nose already in taxes, this would raise the bills for everyone who uses electricity.
Let me repeat. Everyone. Who. Uses. Electricity.
He may not directly raise your individual taxes yet, but by creating a scheme to where every citizen would be paying more in order to fund his agendas, he is taxing everyone despite his lofty promises.
Obama is going to bankrupt this country and people need to wake up to what his plans involve, how much it will cost every American.
From cap and trade to healthcare, it is not Barack Obama that will be paying for it, it is you.