Obama's cap, trade irk some in party - Senators wary of state costs

washingtontimes.com ^ | March 2, 2009 | S.A. Miller

[Free ThinkerNY]

Senate Democrats are breaking with President Obama over his plan for sweeping new climate-change laws that he says will rake in billions of dollars to help offset massive budget deficits.

The dissenters, mostly Democrats from Rust Belt states likely to be hit hardest by the proposed environmental rules, question the economic impact of the program that would cap carbon-dioxide emissions and then sell to businesses the right to emit that carbon dioxide.

The senators also want their states to get a chunk of the windfall from selling the credits - $646 billion over 10 years by Mr. Obama's estimate.

"We should ensure that revenue generated by a cap-and-trade system goes back to the consumers, states and industries that are most affected by the changes," said Sen. Sherrod Brown, Ohio Democrat.

But Mr. Obama wants to spend about two-thirds of the money on tax cuts for low- and middle-income families to soften the bite of higher energy prices expected to result from the cap-and-trade law.

He also wants to move fast, passing the legislation within the next year in order to start collecting by 2012 what the administration calls "climate revenue."

[griswold3]

Sherrod Brown buys into George Lakoff’s “Cap and dividend” proposal. Where you force businesses to purchase carbon credits then pay that as a dividend to the poor.
Creative ‘wealth redistribution’ proposal, but it’s really just moving their own money around.
Like corporate taxation, I’ll just increase my rates!

[xcamel]

Carbon Scam Ping - (POGW)

[Eric in the Ozarks]

Upper Midwest Donks had better pay attention to this.

[Dixie Yooper]

Ahhh, what happened to all the trees that were going to be planted from the carbon offset sales??? Darn! Did we get fooled again?

[dirtboy]

But Mr. Obama wants to spend about two-thirds of the money on tax cuts for low- and middle-income families to soften the bite of higher energy prices expected to result from the cap-and-trade law.

So let me get this straight - the idea of the cap-and-trade is to provide economic disincentives for consuming fossil fuels. But Obam would then turn around and give refunds to a large number of Americans, thereby largely negating that disincentive.

** head scratch **

[jessduntno]

“He also wants to move fast, passing the legislation within the next year in order to start collecting by 2012 what the administration calls “climate revenue.”

They should use some of the funds to help the families in KY who lost everything...AND 36 DEAD...in the ice storms...OBAMA HATES WHITE PEOPLE...

[fanfan]

That guy creeps me out, xcamel.

[Boiling Pots]

Midwesterners have turned into nothing more than a bunch of sniveling little whining crybabies.

First it was the farmers beg beg begging for bailout bailout subsidies and more bailouts.

Then it was the auto industry.

Now it’s communist Sherrod Brown insisting Obama’s Share The Wealth proposals get to his constituents.

[DB]

Global warming, the government magic money making machine...

It doesn’t matter that virtually everyone is already broke...

They’re going to get more out of you...

Enjoy what your vote costs...

Economic destruction on a grand scale...

[anniegetyourgun]

They’ll be making virtual money on virtual credits on the backs of real people.

[businessprofessor]

So let me get this straight - the idea of the cap-and-trade is to provide economic disincentives for consuming fossil fuels. But Obam would then turn around and give refunds to a large number of Americans, thereby largely negating that disincentive.

Your head scratch would be logical if the purpose of the CO2 was to reduce CO2 levels. The real purpose is to transfer wealth and reward friends. Even if one accepts human caused global warming, this proposal makes no sense.

[VRWCTexan]

As Rush has noted several times this so called “Cap and Trade” has nothing to do with lowering pollution levels - rather it's just a new stream of tax “income” to the Fed - and Obama’s primary (really sole) intent is to redistribute these “taxes” to buy low income voters for the “dems” for the next several generations

[PogySailor]

Of course his definition of “low- and middle-income families” will probably cover only those already getting a free ride on federal income taxes. So it will be more welfare.

[Venturer]

We dont need climate control, and if we did we couldn’t control the climate. It’s impossible to control the weather, the earthquakes, or the climate. It’s a lie

The whole stinking issue is a lie..

It’s a scam and Obama is a thief. I fact including Spectre, Snowe and Collins, there arent 40 thieves in Baghdad America , there are 60.

[EEDUDE]

** head scratch **
_______________________________________________________

The number one rule when you are making up the rules is that they DO NOT have to make sense.

Give it a rest or you will end up with a ** head ache **

[Fresh Wind]

cap and trade = steal and scam

[ANGGAPO]

What do you do if you are a Donk after you see the light? You have elected a loser and he is going to take you down with him.

[Entrepreneur]

That guy creeps me out, xcamel.

Dear Leader creeps me out more...

[RC2]

It’s my understanding that Obama’s approval rating is down to 48% and going down. Anybody hear this?