According to the EPA website:
“Cap and trade is an environmental policy tool that delivers results with a mandatory cap on emissions while providing sources flexibility in how they comply. Successful cap and trade programs reward innovation, efficiency, and early action and provide strict environmental accountability without inhibiting economic growth.”
Supposedly, Cap and Trade would tax polluters or companies that emit carbon compounds into the air, water or land. According to the Wall Street Journal back in March 2009:
“Cap and trade is the tax that dare not speak its name, and Democrats are hoping in particular that no one notices who would pay for their climate ambitions. With President Obama depending on vast new carbon revenues in his budget and Congress promising a bill by May, perhaps Americans would like to know the deeply unequal ways that climate costs would be distributed across regions and income groups.”
“Politicians love cap and trade because they can claim to be taxing ‘polluters,’ not workers. Hardly. Once the government creates a scarce new commodity — in this case the right to emit carbon — and then mandates that businesses buy it, the costs would inevitably be passed on to all consumers in the form of higher prices. Stating the obvious, Peter Orszag — now Mr. Obama’s budget director — told Congress last year that ‘Those price increases are essential to the success of a cap-and-trade program.’”
“Hit hardest 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.”
The Democrats have repeatedly tried to pass a Cap and Trade bill, but Republicans have managed to block it every time. Obama has admitted that once Cap and Trade is in place that energy costs would skyrocket and it is these skyrocketing costs that Obama was counting on for more revenue for him to spend.
In 2011, the liberal Democrats in California got tired of waiting for Congress to pass the socialist Cap and Trade bill so they enacted their own, AB 32 at the state level. Steven Greenhut, Editor-in-Chief of CalWatchdog predicted that this would force a number of businesses to leave the state rather than pay the extortion demands of the liberals. A number of companies did move out of the state to friendlier places like Texas and Mexico.
Now, President Obama is planning on implanting a climate action plan without the approval of Congress. Using executive orders and regulatory actions, mainly through the EPA, Obama will enact his Cap and Trade and bypass Congress. This action is one of many abuses of power taken by Obama that could be challenged for their legality and constitutionality.
The Heritage Network has reviewed Obama’s Cap and Trade plans and claims that it will destroy nearly 600,000 jobs, decrease income by $1,200 a year and lose more than $2.2 trillion in the GDP. When they analyzed the proposed regulations, they found that they really pose no meaningful benefit to the climate. They have a great infographic on their website that shows the effects. It also shows what states will be hit the hardest in lost jobs with 11 states projected to lose over 10,000 jobs each. Another 11 states will lose between 5,000 to 10,000 jobs and 12 more will lose between 3,000 to 4,999 jobs. The rest of the states will lose less than 3,000 jobs.
Obama has repeatedly worked to hurt the economy and reduce jobs. Name me one thing that he has done that has actually increased the economy nationwide and increased the number of jobs? He fights against the Keystone Pipeline which will create 10,000 and help make America more energy independent. He fought against every jobs bill proposed by the GOP controlled House. Obamacare has caused many employers to lay people off, reduce workers’ hours by as much as 25% and stopped many from expanding and hiring new workers. Some businesses have ended up closing their doors and putting their employees out of work. Obama has been enacting stricter regulations and requirements on coal powered generating plants along with the coal mines and oil fields. He has dumped billions of taxpayer dollars into one green energy company after another, only to have many of them go out of business.
Obama’s climate plan is just another one of his tools to push his socialist agenda on America without any concern for most American families. Obama is our worst enemy and sadly our Congress is too weak and afraid to try to stop him. Our only hope, besides prayer, is to help Republicans win control of the Senate this November and then they can start taking action to counter this traitorous president’s actions.