Beam me to Planet Gore !
Posted on 02/25/2009 10:28:17 AM PST by Jim Robinson
President Obama is banking on $300 billion to come in by 2022 from a cap-and-trade plan to reduce greenhouse gases, according to a source with knowledge of the president's proposed budget.
Mr. Obama expects money from the climate-change proposal to start rolling in by 2012, and that amount would come in over the subsequent 10 years as companies purchase carbon offsets, according to the source.
The budget's assumption of money from a revenue stream that does not yet exist provides a concrete indication that Mr. Obama expects a cap-and-trade system to be in place soon although Congress still must shape, write, debate and decide on a timetable for legislation that likely will be divisive even among Democrats.
"As someone who is very involved in the legislative debates on this, it's just very premature to be having any number like that," said Jeff Holmstead, Environmental Protection Agency assistant administrator during the Bush administration.
"I do think it will be eye-opening to a lot of people to find out that cap-and-trade is really about raising taxes," said Mr. Holmstead, who now works with the energy lobbying firm of Bracewell and Giuliani.
Cap-and-trade plans work by having the government sell to private enterprises the right to emit a certain amount of carbon dioxide or other gases. Those emission rights can then be bought by companies that wish to emit more from companies that can emit less than their targets.
A White House spokesman did not immediately return calls for comment Tuesday, although Obama spokesman Robert Gibbs confirmed to Reuters news agency that money from a cap-and-trade plan would be part of the president's budget.
Mr. Obama would not be the first president to assume in his budget a nonexistent revenue stream...
(Excerpt) Read more at washingtontimes.com ...
A $300Bn completely unnecessary tax on EVERYONE’S energy bill.
Pay more in taxes to the government so government scietists can pretend to control the weather.
What’s not understood about pay more in taxes?
bump
Economic cost of which would number in the trillions.
The liberals never learn.
“Mr. Obama expects money from the climate-change proposal to start rolling in by 2012”
Well, that sounds EBULLIENT.
Except that “money rolling in” would be for higher bills we all pay for some illusory “right” to “pollute” the environment with CO2 in the process of heating our homes and running our ecomomy that provides jobs and goods.
And just GUESSs who’s also going to pay energy subsidy fees for people who can’t afford their utility bills...
They want this country to read
United States of America
RIP 1/20/2009
Kinda like when Leslie Neilson puts on a condum to "have relations" with Priscella Presley
I cannot even express how much this ticks me off.
You nailed it. We pay the increase in taxes, not only for ourselves, but for the motgaged bailed out losers who need heating bill assistance as well.
Then, when solar and wind DO NOT provide the “green energy” that the pipe dreamers envision, the obamination and his masses will be railing at the O&G industry, the Coal industry & the Nuclear industry for not providing enough cheap energy.
USSA
Cap and trade makes my blood boil.
I can’t even begin to express how angry I am over this scam. I am ready to vote a straight anti-GW ticket. If the candidate knows GW is a scam and will vote against GW measures, that candidate gets my vote!
lot of people to find out that cap-and-trade is really about raising taxes,”No super secret code book required on that one.
This will be the first time in History where a government actually places a tax on air.
Nothing has become unbelievable these days.
They will never get $300 billion from these taxes. These taxes will depress economic activity significantly; not only will the target amount not be reached, but economic contraction resulting from these senseless taxes will reduce other government revenues as well.
But revenue generation was never the real point of this proposal, was it?
Cap-and-trade is the latest deceptive term for new taxes. The government is no more interested in the environment than it is crime control or controlling our borders.
300 Billion in 13 years = 23 billion a year. That’s chump change in Washington
All that money will go right into the food stamp program after whats left of the economy tanks even further due to the skyrocket food prices that will most surely occur.
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