Skip to comments.Raising Your Indirect Taxes
Posted on 07/11/2010 1:46:04 AM PDT by Scanian
There are currently two pieces of tax legislation that have been introduced into Congress that will affect virtually every person in the United States. These new bills are very deceptive, since they tax the chemical and petroleum industry; however, what EPA and the sponsors of the bill do not mention is that these taxes will be passed back down to the consumer level.
The sponsors of the bill also claim that this tax will create or save jobs and "punish the polluters" (the petroleum and chemical industries) -- especially in light of the BP oil spill. The original Superfund taxes expired on January 1, 1996. Since the tax expired, the Superfund trust fund balance has dwindled to virtually zero. The trust fund is currently funded by appropriation bills from Congress.
On January 5, 2009, Representative Earl Blumenauer (D-OR) introduced the "Superfund Reinvestment Act of 2009" (H.R. 564). Representative Blumenauer stated when introducing the bill that "[t]his is a win for the environment, a win for local communities and a win for the economy." Rep. Blumenauer also claims that
(Excerpt) Read more at americanthinker.com ...
ALL taxes on business are passed down to the CONSUMER, period.