“The Ever-Increasing Cost of C(r)ap-and-T(i)rade”

Via Michelle Malkin,

If you haven’t phoned your congressional reps yet over the ever-increasing cost of the Dems’ c(r)ap-and-t(i)rade global warming proposals, what are you waiting for? Call 202-224-3121.

As I’ve noted before, the national eco-taxes are in trouble with nervous Blue Dog Democrats. But the plan isn’t going to go down without the mobilization of tens of thousands of Tea Party activists spreading the word and pressuring both parties in Congress.

The Heritage Foundation has just released a new economic analysis of the Waxman-Markey bill:

Though the proposed legislation would have little impact on world temperatures, it is a massive energy tax in disguise that promises job losses, income cuts, and a sharp left turn toward big government.

Ultimately, this bill would result in government-set caps on energy use that damage the economy and hobble growth–the very growth that supports investment and innovation. Analysis of the economic impact of Waxman-Markey projects that by 2035 the bill would:

* Reduce aggregate gross domestic product (GDP) by $9.6 trillion;
* Destroy 1,105,000 jobs on average, with peak years seeing unemployment rise by over 2,479,000 jobs;
* Raise electricity rates 90 percent after adjusting for inflation;
* Raise inflation-adjusted gasoline prices by 74 percent;
* Raise residential natural gas prices by 55 percent;
* Raise an average family’s annual energy bill by $1,500; and
* Increase inflation-adjusted federal debt by 26 percent, or $29,150 additional federal debt per person, again after adjusting for inflation.

The Washington Examiner weighs in: “That is a prescription for wrecking American prosperity for decades to come.”

Haven’t we been force-fed enough of those recipes already?

Published in: on May 18, 2009 at 7:45 pm  Leave a Comment  

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