A Secret Cap and Trade Tax of $1,761 Per Family?
ABC News' Jake Tapper and Matt Jaffe report:
At the Values Voter Summit Saturday, former Massachusetts Gov. Mitt Romney said of cap and trade legislation that "the Obama team had secretly calculated that his plan would cost the average American family $1,761 a year, the equivalent to a 15 percent income tax hike."
$1,761??
The Congressional Budget Office has concluded that the cap and trade legislation in the House would only cost the average taxpayer $160 dollars a year.
Yet those opposed to the Democrats' cap and trade legislation — including the American Petroleum Institute and Sen. Lamar Alexander, R-Tenn. – are using this new, larger figure.
So where did it come from?
Earlier this week, the libertarian Competitive Enterprise Institute posted excerpts from transition memo from the U.S. Treasury Department that CEI obtained through the Freedom of Information Act. The Treasury document memo said that "given the administration's proposal to auction all emission allowances, a cap and trade program could generate federal receipts on the order of $100 to $200 billion annually."
Declan McCullagh, a libertarian blogger at CBS News, wrote about this memo this way: He assumed that the costs of these fees paid by polluters to the government would be entirely passed on to consumers, and divided the number $200 billion by the number of households in the United States — approximately 113.5 million according to the census.
That came out to $1,761 per family per year.
Or, as he put it, the "Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent."
Politifact looked at the $1,761 figure this week and concluded that it was false "based on a blogger's incorrect assumptions and overly simple math. The estimate does not account for revenue that will be returned to consumers in the form of rebates and other efficiency measures."
A Treasury official told ABC News that the $100 billion-$200 billion figure "was an estimate of auction revenue, not costs to households."
The official said the "statement in question was not a reference to a 'price tag' of climate legislation, but rather an order of magnitude estimate of auction revenue if all allowances were auctioned. That is, we were communicating that auction revenue would not be on the order of millions, $1 billion, or $1 trillion, but rather on the order of $100 [billion] to $200 billion."
The official said that "this order of magnitude estimate was not about a specific legislative proposal, and it was not a result of an actual internal analysis, but rather a summary of what was implied by a variety of publicly available analyses." The document in question was not a "'report' or 'analysis' but simply a memo developed during transition for incoming officials summarizing existing publicly available information."
So what are the differences between the hypothetical cap and trade as seen in the Obama transition memo analysis the House cap and trade bill drafted by Reps. Henry Waxman, D-Calif., and Ed Markey, D-Mass.?
As the Washington Post noted, President "Obama originally envisioned that every polluting permit would be sold, starting when the bill was enacted. But in the spirit of compromise, Waxman and Markey scaled back that plan by giving about 85 percent of the permits for free in the early years of the bill's implementation.
"Also, under the latest version of the Waxman-Markey bill, which passed the House in June, 30 to 40 percent of the revenue would go back to electric utilities to be passed on to consumers to offset higher rates they would have to pay. The money would be passed to consumers through rebates or expanded efficiency programs, and an additional 15 percent of the revenue would go directly to low-income consumers."
The pushback from the Treasury Department has been forceful.
Alan Krueger, Treasury assistant secretary for economic policy, said that the initial "reporting on the Treasury memo is flat out wrong."
Krueger said that "the reporting and blogging on this issue ignore the fact that the revenue raised from emission permits would be returned to consumers under both administration and legislative proposals. It is time for an honest debate about how to solve a long-term challenge and deliver comprehensive energy reform, not for misrepresentations of the facts."
**
But it's possible to see as false the assertions by Romney and other Republicans that the president has been hiding a $1,761 tax from the American people while also wondering if the Treasury Department is being as forthcoming and transparent as President Obama's campaign promises would suggest.
Chris Horner, the senior fellow at CEI, pointed out that the Treasury Department originally released the memo with the $100 billion-$200 billion figure redacted — for no obvious reason other than it was a "highly embarrassing" figure, in Horner's view. Moreover, the Treasury Department only coughed up five documents and e-mails, when CEI expected 50 documents and e-mails. CEI needs to decide in the next 30 days whether or not to sue for more.
And though the Waxman-Markey legislation is quite different from the cap and trade hypothesis in the memo, the Obama administration's original position was in support of a 100 percent auction. As Congress is really only at the beginning of the legislative process on cap and trade, the White House's view is not irrelevant.
It's also worth asking if the ultimate amount of revenue — even with rebates to consumers — is of so little value. Do Americans really think those costs won't end up impacting them in some way eventually? It may be politically savvy to tell the American people that this will cost them just a postage stamp a day, but is that the true ultimate cost of revenue that the administration argued in theory could possibly be "equal in size to the corporate income tax"?
Peter Orszag is the president's budget director, but back when he was director of CBO, in April 2008, he testified that "if firms that must purchase allowances were unable to pass those costs along, their profits would fall. More likely, some substantial portion of those costs would be passed along to others in the economy, such as consumers, in the form of higher prices, and employees, in the form of lower wages. Lower wages would reduce federal revenues from income and payroll taxes. An increase in the price level would reduce income taxes — because the tax system is indexed to prices — and increase expenditures for indexed benefits, such as Social Security. Those changes would offset some of the revenues from the allowances."
Orszag added that under "a cap-and-trade program, firms would not ultimately bear most of the costs of the allowances but instead would pass them along to their customers in the form of higher prices. Such price increases would stem from the restriction on emissions and would occur regardless of whether the government sold emission allowances or gave them away."
As as President Obama himself said (in another claim examined by Politifact) in January 2008, "under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket….Because I'm capping greenhouse gases, coal-powered plants, you know, natural gas, you name it, whatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money, they will pass that money on to consumers."
Obviously, the Waxman-Markey bill makes efforts to mitigate such problems, but no one can honestly argue that the bill the president ultimately signs will absolutely avoid these issues entirely.
"The problem is can you get the American people to say 'This is really important,' and force their representatives to do the right thing?" President Obama said to the editors of the San Francisco Chronicle. "That requires mobilizing a citizenry. That requires their understanding what is at stake."
Cap and trade is a complicated issue that demands facts and transparency. Opponents would do well to keep their arguments in line with reality, refraining from fuzzy math and invented claims. Proponents would do well to be honest and up front about what they think they believe the true impact of this legislation would be, refraining from trying to hide facts and figures from the American people.
And I don't think it's unfair to say that it remains open questions as to whether cap-and-trade proponents have truly explained to the American people "what is at stake" with the legislation, as President Obama opined in January 2008, and whether they have mobilized a citizenry.
- Jake Tapper and Matt Jaffe
*This post has been updated.
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That’s a horrible headline…. and a poorly written story.
The news here is that the 1761$ is a lie.
That should be the headline. That should appear in your first paragraph. You ought to identify the liar up front, too.
Instead, you bury the facts at the end of the story… and broadcast the spin up front.
Posted by: gobot | September 20, 2009, 12:57 pm 12:57 pm
Opponents would do well to keep their arguments in line with reality, refraining from fuzzy math and invented claims. Proponents would do well to be honest and up front about what they think they believe the true impact of this legislation would be, refraining from trying to hide facts and figures from the American people.
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This doesn’t apply just to Cap and Trade.
Would that it were.
Posted by: MayBee | September 20, 2009, 1:03 pm 1:03 pm
I agree with you MayBee.
But you know, it’s just hard to have a rational debate with someone who refuses to believe that Obama’s birth certificate is real.
Health care, for instance, I think we could have a civil, balanced debate on the issue. But once the activists got it into their heads that the best way to get their point across was to get angry, shout people down, and carry around guns… I think we missed that opportunity.
Maybe we can head back towards an honest direction… but this would require significant leadership on the part of the GOP. They need to muzzle emotional people like Michelle Bachmann, Joe Wilson, Glenn Beck, Rush Limbaugh and Sarah Palin… and focus on presenting their ideas in a logical fashion.
The second thing they need to do is take a seat at the table when they are invited to do so. Too often, they throw up knee jerk opposition, and it doesn’t make sense.
For instance, Max Baucus’ health care bill is not the one I would prefer…. but I recognize that it is revenue neutral and that it relies on the private sector… and those things made it into the bill because Baucus worked with Republicans.
But, when Baucus announced it, not a single Republican would stand with him. Which says to me that the GOP has been negotiating in bad faith. And, now, we will end up with a bill that leans further to the left. And the Republicans have to own up to their complicity in this.
So, yes, honesty and civility would be welcomed. But it is very clearly to me that Obama has been incredibly gracious and civil… even when his detractors have been much less so.
Posted by: gobot | September 20, 2009, 1:17 pm 1:17 pm
“Chris Holder, the senior fellow at CEI, pointed out that the Treasury Department originally released the memo with the $100 billion-$200 billion figure redacted — for no obvious reason other than it was a ‘highly embarrassing’ figure, in Horner’s view.”
Who is Horner?
Is $160 > 1 dime in new taxes? What happened to that campaign promise?
Posted by: Scott | September 20, 2009, 1:18 pm 1:18 pm
gobot:But you know, it’s just hard to have a rational debate with someone who refuses to believe that Obama’s birth certificate is real.
======
Interesting take, gobot. So do you think that’s why the Treasury Department redacted the embarrassing numbers?
Posted by: MayBee | September 20, 2009, 1:28 pm 1:28 pm
Cap n Trade is one of the most massive frauds ever proposed and is nothing more than a massive transfer of wealth from consumers to governments around the world.
So proud the Dems have come up with this scam. Makes me “proud of my country for the first time”…
Posted by: John Smith | September 20, 2009, 1:32 pm 1:32 pm
The fact of the matter is that we are heading towards 10$ per gallon gas…. maybe not during Obama’s term, but definitely in our lifetimes.
If we do not force industry to find more efficient means to power their growth… life in the United States is going to change quite radically.
1700$ is peanuts compared to what we will have to endure if we do not head these changes off quickly. So even if the made up 1700$ number were true, the status quo is not good enough.
If you let natural market forces, supply and demand, correct this trend… we are going to subject our citizens to a state of nature that most people will find unconscionable. It would be the equivalent of leaving national defense to individual gun owners… a nice idea in theory, but in practice, a blood bath.
But even Romney knows that he is acting in bad faith, here.
Posted by: gobot | September 20, 2009, 1:33 pm 1:33 pm
Posted by: MayBee | Sep 20, 2009 1:28:21 PM
It probably has more to do with “consumer confidence.”
The 2012 election is pretty far off…. and though the GOP is already having straw polls for the next election and all that… it seems premature for Obama to start spinning economic figures for his reelection bid.
By 2011 the economy is going to be in pretty good shape. I think the immediate crisis is how to preserve the small amount of economic momentum that we have been building over the past few months.
Maybe that’s politics. But if it is, it seems like the good kind of politics… in that it creates jobs.
Posted by: gobot | September 20, 2009, 1:38 pm 1:38 pm
gobot:If you let natural market forces, supply and demand, correct this trend… we are going to subject our citizens to a state of nature that most people will find unconscionable. It would be the equivalent of leaving national defense to individual gun owners… a nice idea in theory, but in practice, a blood bath.
=================
Isn’t a better comparison the “bloodbath” we encountered as trains and ships figured out they couldn’t keep using coal to power their engines?
Posted by: MayBee | September 20, 2009, 1:40 pm 1:40 pm
A little tea Ron Paul style ladies and gentlemen.
Posted by: Ben | September 20, 2009, 1:48 pm 1:48 pm
Probably higher than $1760..
But Obama will call it a scare tactic.
He won’t get Blue Dogs to agree to cap and TAX either.
Even the naive college kids are waking up to government intrusion by Big Brother.
Just starting out in life and faced with Obama’s massive deficit, taxes, and mandatory health care.
Posted by: tyler | September 20, 2009, 1:52 pm 1:52 pm
“No taxes on anyone making under $250K”.
Who really believed that one except Obots?
Obama is proving to be a extreme version of a typical Democrat.
Tax and spend.
So much for being a different kind of politician.
Different as in very radical–yes.
Posted by: millie | September 20, 2009, 1:55 pm 1:55 pm
Isn’t a better comparison the “bloodbath” we encountered as trains and ships figured out they couldn’t keep using coal to power their engines?
The transition from coal to petroleum was relatively slow. The difference now is that you have rapidly growing economies competing for fewer and fewer energy resources. Coal did not vanish, it was simply replaced.
The world changes much too quickly these days… and the stakes are too high.
People might not like the idea of the government getting out in front of this… as it interferes with the “natural” ebb and flow of markets. But personally, I only care about free trade if it protects our society. Which, is another way of saying, I am not a free-trader. I am an American. And I want jobs and energy and security for Americans.
So, if Obama has to stick his fat hands into the free market… if he has to frustrate multi-national corporations…. I don’t care. I want my kids to have a good life… and that means the government can’t leave their future to the Bernie Madoffs and Enrons and Exxons…
Posted by: gobot | September 20, 2009, 1:56 pm 1:56 pm
i won’t argue the numbers. i think we all know that this legislation is nothing more than a redistribution of wealth on the backs of the middle class. you think the rich care about this? hell no! the scariest part about this will be the loss of manufacturing jobs to china and india – who will not be adopting such measures. i work for a chemical manufacturer with a $700million dollar planned expansion, which will provide 2,000 construction jobs and 250 permanent jobs, sitting on the shelf over fears of what this legislation will cost and will that cost be able to be recouped in sales prices.
you want to know what is wrong with this economy? this administration has created an atmosphere of uncertainty and has continually attacked corporations who strive to make a profit. no business is going to invest in this economy until these things stop.
the president appoints a manufacturing “czar” who is a union arbitrator. how many manufacturers do you know who want to do business with a union?
how many ceo’s showed up on monday to listen to the president address wall street? ZERO!
the business world is laughing at this guy as he makes a mockery out of our economy and pats himself on the back for stopping the “free fall”. give me a break! the only thing the president knows how to do is to create panic and outrage aimed at his “enemy of the day”. how’s that working for our unemployed citizens in this country?
Posted by: robin | September 20, 2009, 1:58 pm 1:58 pm
Obama loses credibility almost everyday.
Ask Poland, Israel, Czech Republic and other loyal allies if they trust his word.
He stabs our allies in the back then turns around and calls Russia “paranoid”.
I’m beginning to think Obama is bi-polar.
Posted by: max | September 20, 2009, 1:59 pm 1:59 pm
If you want to understand the opposition to cap and trade…. look no further than the Club for Growth.
These are the people responsible for the giant sucking sound that Ross Perot used to talk about.
They have ruined American lives before… and they would like to do it indefinitely… so that they can make more money.
Posted by: gobot | September 20, 2009, 1:59 pm 1:59 pm
Y’all should have voted for Ron Paul when you had the chance….
Instead, you pushed him into the corner and picked a handful of goofballs as your ticket.
Posted by: gobot | September 20, 2009, 2:01 pm 2:01 pm
goofballs? i wish goofballs were the only thing we were dealing with in this administration. since when has it become acceptable in this country to have founders of radical terrorist groups – groups who declared war against the US Govt – involved in writing policy???? seems to me like this would be something that the american people would be interested in knowing.
Posted by: robin | September 20, 2009, 2:08 pm 2:08 pm
Scott,
Incredibly gracious? If the president is endorsing/encouraging legislation that goes against every belief one has, but couples it with a “I welcome differing opinions” caveat, does that equal grace?
That’s absurd.
That’s like saying Pres. Bush was gracious when he welcomed Democratic support for his tax cuts. Dems fundamentally disagreed with those cuts, just as Republicans fundamentally disagree with Cap and Trade or Healthcare w/public option.
Just because a president feigns a willingness to incorporate bipartisan ideals into a bill, doesn’t make him civil and gracious. Pres. Obama knows, as Bush knew, that no one from the opposition party would have a chance to have a meaningful effect on the bill.
Simply welcoming a futile effort means nothing. Bush wasn’t given credit for it and neither should Obama.
Posted by: Gracious & Civil? | September 20, 2009, 2:17 pm 2:17 pm
gobot – Ron Paul is getting all sorts of street cred now. Lots of folks that I work with who blew him off last election are now calling him some sort of genius. This may be because of Glenn Beck’s transformation. I supported him for the last three years ever since I found out about him. As far as congress goes, he is the only one that gets it.
Posted by: Huh | September 20, 2009, 2:22 pm 2:22 pm
robin – We overthrew Mossadeq in 1953, we helped to radicalize the Madrassas to counter the Soviets, we armed Bin Laden against the Soviets, Israel armed and trained Hamas against the Fatah, we armed Saddam against the Iranians. Sounds like things are coming full circle. I find this info more interesting for the American people. Seems like the Founding Fathers of this country knew what they were talking about. We should be a little more introspective. Oh and by the way terrorists are not making policy currently. Hopefully policy keeps the aforementioned events in mind.
Posted by: Huh | September 20, 2009, 2:27 pm 2:27 pm
Protectionism and energy taxes will not create jobs, they will place intolerable additional burdens on the economy. And they will no more improve the lives of future generations than will Obama’s deficits.
This legislation is quite simply madness. The government is fundamentally incapable of getting “out front” on economic matters. Had we ceded such authority to the government in the 18th century, the nation would now be criss-crossed by a network of state-of-the-art barge canals.
Shame on the American people if they surrender to these fools.
Posted by: Fascist Hyena | September 20, 2009, 2:34 pm 2:34 pm
I am not going to dispute any of the numbers on the amount each family will end up paying as that would be impossible to accurately determine as well as only being an average, some families will pay much more than others, and not necessarily based off of a higher income. The basic point of cap and trade is to punish producers and consumers of energy, which is just about every one who uses any electricity at all in their operations, or who buys from someone who does use any energy. The point is that this is a regressive tax which will disproportionately affect the poor of this country. Eventually the revenue from this tax will decrease to a point where the spending that was paid for with this tax will just add further to the national debt. The question is whether or not the change in behavior caused by this tax on energy will increase government revenues through growth of the economy or reduce the spending by the government, which is almost laughable. If the intent is to reduce carbon emissions in order to stop global warming, then according to even the most generous estimates, it will do very little to reduce global temps, and most likely actually do nothing to change global temps. This is a lousy scheme that will only accomplish putting more control of the economy into the hands of the government, and anyone who denies that this is the intent is naive.
Posted by: Jason | September 20, 2009, 2:42 pm 2:42 pm
Why isn’t the headline for this article, “Mitt Romney WRONG about Figures for Cap and Trade” ? That was the very clear conclusion of the article.
It is funny and a bit sad how many people felt free to comment when it was obvious they hadn’t read the piece.
Posted by: Lydia | September 20, 2009, 3:01 pm 3:01 pm
Obama is simply not believable.
He said he didn’t know how much money ACORN was funded.
They were slated to receive $8billion in stimulus and Obama doesn’t know?
He is either lying or totally reckless with our money. Or maybe he just doesn’t care how much of our tax money goes to ACORN or Cap/Trade.
It’s not his money why should he care?
Posted by: jack | September 20, 2009, 3:10 pm 3:10 pm
definitely a scam on the American people.
shift of wealth.
Posted by: Bill | September 20, 2009, 3:21 pm 3:21 pm
Why isn’t the headline for this article, “Mitt Romney WRONG about Figures for Cap and Trade” ? That was the very clear conclusion of the article.
Posted by: Lydia | Sep 20, 2009 3:01:22 PM
Lydia, good question. I find it interesting that Tapper went into all all kinds of contortions to hide the bottom line, and act like there’s equal blame on both sides of the aisle.
Posted by: Alyson | September 20, 2009, 3:22 pm 3:22 pm
Hey, I was at that TEA Party in Milwaukee yesterday. Michelle Malkin (Asian woman) was one of the speakers. So was Manny Perez (Hispanic Republican) James T. Harris(Black blogger) Sheriff David Clarke (Black man) as well as other conservative speakers. NO RACISM HERE !!!! Just a dislike and distrust of Obama’s policies.
Posted by: Kevin | September 20, 2009, 3:30 pm 3:30 pm
“this administration has created an atmosphere of uncertainty and has continually attacked corporations who strive to make a profit. no business is going to invest in this economy until these things stop”
___________________________________
Is that why the stock market is up about 25% since Obama took office?
Posted by: julieterra | September 20, 2009, 3:50 pm 3:50 pm
julieterra – the stock market has gone up, but unemployment has gone up too. the stock market has nothing to do with a business investing in infrastructure and creating jobs. the stock market can go to 20,000, but that doesn’t mean jobs will be created.
Posted by: suzie | September 20, 2009, 3:55 pm 3:55 pm
“Is that why the stock market is up about 25% since Obama took office?”
LOL. So let’s play this out. Obama is responsible for a 25% gain on Wall Street, but then must also be responsible for 2.5 million jobs lost on Main Street since he took office.
So, according to Julie’s logic, Obama represents the party of corporate greed at the behest of the little guy that they claim to represent.
Nice argument.
Posted by: Q | September 20, 2009, 4:08 pm 4:08 pm
“So, according to Julie’s logic, Obama represents the party of corporate greed at the behest of the little guy that they claim to represent.”
_____________________________________
Lots of normal, middle class people have retirement investments in the stock markets – and lost a huge amount of money during the economic crash of 2008. They are now seeing a bit of that money begin to return. This is a good thing.
And I wouldn’t call those people corporate giants – they are ordinary Americans and the backbone of the country.
We are no longer losing 700,000 jobs per month like we did under the last administration.
This was a world-wide economic crash and it has been clear recovery will take time and it won’t be easy.
Posted by: julieterra | September 20, 2009, 4:25 pm 4:25 pm
“the stock market has nothing to do with a business investing in infrastructure and creating jobs”
___________________________________
Nonsense.
Posted by: julieterra | September 20, 2009, 4:27 pm 4:27 pm
“Lots of normal, middle class people have retirement investments in the stock markets – and lost a huge amount of money during the economic crash of 2008. They are now seeing a bit of that money begin to return. This is a good thing.”
Well, that’s a rather conservative viewpoint there Julie. Too bad other liberals don’t take such a view of profits and stock gains when they are railing against the “excessive greed” on Wall Street – like the President.
And still at the end of your argument, you just changed the channel. If the President gets the credit for Wall St. he gets the blame for Main St.
Posted by: Q | September 20, 2009, 4:33 pm 4:33 pm
“We are no longer losing 700,000 jobs per month like we did under the last administration.”
No we’re just losing over hundreds of thousands per month. That’s a pretty shameless argument, and dishonest, when the President promised to be ADDING jobs after cramming a $787 billion “stimulus” bill through Congress. Saying we’re not LOSING as much as before isn’t really a defense when you’ve just taken a Federal Credit Card and have gone on a speeding spree.
Posted by: Q | September 20, 2009, 4:45 pm 4:45 pm
“when they are railing against the “excessive greed” on Wall Street – like the President.”
____________________________________-
Middle class people trying to invest and save some money for retirement is a whole different story than insurance (and other) executives earning $12 million a year . . . one of those is greed. Try to figure out which . ..
Posted by: julieterra | September 20, 2009, 5:07 pm 5:07 pm
“the President promised to be ADDING jobs”
___________________________________
He did no such thing. The President was careful and precise about his wording . . . it was saving or creating jobs – and we’re only 9 months into a 4-year program.
This was a world-wide economic crash that has devastated every western industrial nation. A possible recovery is slowly coming about – but there are still no guarantees. Perhaps it would be better to quite whining and griping and actually get about making your community a better place. The whining and the hatred adds nothing.
Posted by: julieterra | September 20, 2009, 5:11 pm 5:11 pm
If you think large consumers of energy are the rich think again. Talk with any one that owns or runs a bakery. This line of work requires extreme amounts of energy to produce essentials in our daily lives. These guys are going to get hit the hardest with a huge cap and tax hike. also this will seal the coffin of the US manufacturing base. We now will have to seal with stale bread since it will have to come from china or mexico. Since it will be cost prohibited to make it here in the US. Think about $7 to $10 for a loaf of wonder bread.
Posted by: coastlinecascott | September 20, 2009, 5:21 pm 5:21 pm
Greenhouse gas isn’t an air-pollution problem, it’s an energy-use problem.
Energy unlike other goods can’t be substituted or done without. It is rightly called the master resource, because it’s fundamental to everything in the economy. No nation has grown wealth on expensive energy.
Carbon dioxide results from combustion, apart from still-evolving technologies, none exists to remove it, the only way to reduce emissions is to burn less, which means less energy.
There may be no way to replace fossil fuels at any cost. The International Energy Agency noted in its recent annual energy forecast: “Even leaving aside any debate about the political feasibility of the 450 Policy Scenario, it is uncertain whether the scale of the transformation envisaged is even technically achievable, as the scenario assumes broad deployment of technologies that have not yet been proven. The technology shift, if achievable, would certainly be unprecedented in scale and speed of deployment.”
Posted by: HillBillyRealist | September 20, 2009, 5:30 pm 5:30 pm
US DOE electric data:
Coal Electric
1,450 Plants in operation
Average Size 247MW
Summer Capacity of 336,290MW
Capacity Factor 76% (ratio of a power plant’s average production to its rated capability)
Net Generation 255,580MW
Capital Cost $1,290,000/MW
Wind Electric
475 Plants in operation
Average Size 50MW
Summer Capacity 23,847MW
Capacity Factor 46%
Net Generation 10,969MW
Capital Cost $1,208,000/MW
Nat Gas Electric
5,490 Plants in operation
Average Size 101MW
Summer Capacity of 71,986MW
Capacity Factor 42%
Net Generation 30,239MW
Capital Cost $859,000/MW
If we were to replace coal electricity with wind we need 5,111 additional Wind plants. Nat Gas plants 2,530 more plants.
Nat Gas $219,500,000,000 or Wind $308,704,400,000 plus whatever it costs to dispose of the existing plants, the mines and facilities, extra rail cars and the impact on the economy of hundreds of thousands of lost jobs.
Posted by: HillBillyRealist | September 20, 2009, 5:31 pm 5:31 pm
$1,700 per family is not so farfetched. Energy is a major component of everything we buy, service or product. If the average family income was $60,000 in 2006 that would be increase of 2.8%. Since it is estimated by the US DOE that electric rates could go up 30-100% and since electricity is embedded in everything this estimate is not unreasonable. The Census estimated that the family paid $2,432 in taxes so if one considered the increased cost as a surrogate for a tax, that increases their tax load to $4,100 or 6.8% of their income verses 4.0% in 2006. That would be, on a percentage basis, over a 50% increase in taxes per family.
Posted by: HillBillyRealist | September 20, 2009, 5:37 pm 5:37 pm
“Energy unlike other goods can’t be substituted or done without.”
_____________________________________
Of course it can. North America has wasted energy for decades thinking it was an infinite resource.
Energy efficiency products and practises actually ‘do without’ energy. In essence those approaches do just as much with lower energy use – this is the direction things MUST go in.
To blindly pretend we can go on gobbling up non-renewable resources until we exterminate them and ourselves is VERY short sighted.
Your argument lacks vision or progress.
Posted by: julieterra | September 20, 2009, 5:47 pm 5:47 pm
Good reporting and it shows that for every action there are often unintended consequences.
My gut reaction would be for reasonable environmental standards to be issued, standards set by the epa with true input from the energy companies and then allow the free market to solve the problems.
Posted by: david | September 20, 2009, 5:52 pm 5:52 pm
The sad thing is that, if implemented, by the time we know the truth of how hard cap and tax his us it will be too late to do anything about it.
NOW IS OUR TIME TO STOP CAP AND TAX!
Posted by: Ed Taylor | September 20, 2009, 5:59 pm 5:59 pm
Has anybody stopped to consider, by the time this administration gets done with new taxes, not just payroll, but all the other taxes they have been talking about, there will be nothing left for our bills and food.
You can only raise energy prices so high and businesses will have to raise their prices to pay their bills, so here we are in that vicious circle.
I’m getting just a little too old for these games. I don’t think I want to play them anymore.
Posted by: Granny | September 20, 2009, 6:09 pm 6:09 pm
“We are no longer losing 700,000 jobs per month like we did under the last administration.”
Um, that’s because there are fewer people in the workforce to fire!
The unemployment rate is STILL RISING and near a 27-year high, despite Obama’s promise that unemployment would peak at 8% if the stimulus bill passed.
In other words, Obama lied.
Posted by: Jenn | September 20, 2009, 6:33 pm 6:33 pm
CAP AND TRADE IS NOT POLLUTION CONTROL. IT IS A GIFT TO THE FINANCIAL INDUSTRY. JUST LIKE HEALTH CARE IS A GIFT TO THE INSURANCE INDUSTRY. JUST LIKE WAR IS A GIFT TO THE ARMS INDUSTRY. IMPEACH OBAMA.
Posted by: stevador39 | September 20, 2009, 6:36 pm 6:36 pm
Ron Paul has been right all along…..
Posted by: Ben | September 20, 2009, 6:38 pm 6:38 pm
“…incorrect assumptions and overly simple math….”
Well, doesn’t that just sum up our political climate today? Of course, the article ignores the possibility that the math wasn’t just “overly simple” but a flat-out lie.
It’s almost understandable that the Treasury wouldn’t want to release numbers if they know that those numbers will just be twisted and abused to prove a fallacy.
The whole debate is an example of how the American people never want to pay the REAL cost of things.
They want to shop at Wal-mart/China because they don’t want to pay the price for things what would allow the people that make those things a wage that they can live on.
They didn’t want to pay the cost of cleaning up the pollution that was created by manufacturing things in the Sixties until they started seeing the dead fish in their rivers and the decimation of the bald-eagle population among other warning signs.
They don’t want to pay for hiring more police because then they couldn’t afford their giant flat-screen TVs. They would rather take their chances that the neighbors will be broken into and not themselves.
The American people never want to do things the right way when there’s a cheaper alternative that allows them to ignore the short-sightedness of their greed.
Posted by: OB-Wan222 | September 20, 2009, 6:48 pm 6:48 pm
Marketwatch reported on Sept 9: “Employers’ hiring plans for the upcoming fourth quarter dropped to their lowest level in the history of Manpower’s Employment Outlook Survey, which started in 1962.” US Job openings fell to a record low in July this year. An article by G. Washington for Naked Capitalism painted the real picture: “Projections of former International Monetary Fund Chief Economist and Harvard University Economics Professor Kenneth Rogoff and University of Maryland Economics Professor Carmen Reinhart, U-6 unemployment could rise to 22% within the next 4 years or so.”
Posted by: Here's Your Change | September 20, 2009, 7:02 pm 7:02 pm
Consumer debt is now $14.5 trillion, or 34% greater than total consumer income each year. With the housing market crash, home equity fell from a high of $13 trillion in 2006 to just $8 trillion today. Consider where it would be without the massive government intervention and 80% ownership stake in US mortgages! Then consider that nearly 10% of all these government owned mortgages are in default, and 23% of the current FHA portfolio is already in default! In the last year 2.6 million Americans slipped from a tenuous position in the Middle Class into the ranks of the impoverished. Another million joined the ranks of those without health insurance–an astounding 46 million now. Another 1.3 million will lose unemployment benefits by year’s end. According to the Gallup daily tracking poll, job creation is down 35% over last year, so don’t expect a lot of new hiring. Teen unemployment is now 25.5%. A third of all workers under 35 are now living with their parents to make ends meet. USA Today reports that national bankruptcy filings are up 22% over 2008. More than 35 million Americans now rely on food stamps to feed themselves. Consequently consumer spending is now down a remarkable 33% over the previous year.
Posted by: Here's Your Change | September 20, 2009, 7:03 pm 7:03 pm
“The unemployment rate is STILL RISING and near a 27-year high, despite Obama’s promise that unemployment would peak at 8% if the stimulus bill passed.”
_____________________________________
President Obama promised nothing of the sort.
I’m read the report the % come from and it was made very clear in that report that the world-wide economic meltdown was unprecedented and that made future projections unreliable. They clearly stated that figures were not intended to be exact predictions of the future and that a wide margin of variability would be expected.
Time to stop trotting out this tired old right wing lie.
Posted by: julieterra | September 20, 2009, 7:06 pm 7:06 pm
“Thankfully, there’s people like you, Modern Progressive, to control us…”
I can’t help but notice that you decide to attack me as controlling instead of presenting a rational argument that I was wrong in my conclusion.
Good thing there’s people like you, Stone Age Cons, that try to insult people that disagree with you instead of honestly debating them.
Posted by: OB-Wan222 | September 20, 2009, 7:32 pm 7:32 pm
Barry O. burned 9,000 gallons of AvGas on Earth Day. Something tells me we won’t be seeing windmills off Cape Cod anytime soon either.
Posted by: Gulfstream | September 20, 2009, 8:01 pm 8:01 pm
So 30 to 40 percent goes back to electric utilities. Instead of $1,761 it would be $1,232 or $1,056. Still significant. Then they will give away 85 percent of permits for free in early years. How many years? One, two, how many. Eventually it will be 100 percent.
The 30 to 40 that goes back, does anybody think that will last long? The government will end that one day, sooner or later.
While the money is being given back to utilities, the money could all go towards rebates. That means you have to spend money to get the rebate. The current rebate covers 30 percent of the cost. Americans would have to spend 100 percent to get that 30. Giving 15 percent of that money to the poor does not offset the majority of tax payers cost for the increase in energy cost.
For the majority of Americans the $1,761 is probably an fairly accurate number. If there is ‘false figure’ it would be Politifact and the authors of this article.
Posted by: Matt T | September 20, 2009, 8:01 pm 8:01 pm
Guess who’s gonna make big $ off Cap and Trade? One guess! Starts with a G and ends with an S.
Posted by: Easy $ | September 20, 2009, 8:05 pm 8:05 pm
Concerned in OH,
Let’s just say it is an organization that Obama looks out for.
Posted by: Easy $ | September 20, 2009, 8:23 pm 8:23 pm
and an additional 15 percent of the revenue would go directly to low-income consumers.”
Because giving poor people money is such a good idea. I already pay for LIHEAP.
Posted by: Section 8 | September 20, 2009, 8:25 pm 8:25 pm
“He did no such thing. The President was careful and precise about his wording . . . it was saving or creating jobs – and we’re only 9 months into a 4-year program.”
“Now that it has passed through Congress to the president’s desk, the White House has given us a comprehensive estimate of how many jobs will be created in each state, thanks to the bill.” – US News and World Report, Feb. 9, 2009
The individual state estimates of created jobs was well over 1 million in this cited report.
Julie, you’ve been fact-checked and have been found wanting.
Posted by: Q | September 20, 2009, 8:26 pm 8:26 pm
“Middle class people trying to invest and save some money for retirement is a whole different story than insurance (and other) executives earning $12 million a year . . . one of those is greed. Try to figure out which . ..”
Uh, you can’t separate corporate profits from middle class investors when those middle class folks are dependent on mutual funds in their 401k’s that are tied to so-called “corporate greed” which come in the form of profits. If you really believe a CEO making $2 million isn’t ethical, you really should consult current SEC regulations and educate yourself about the legality of publicly traded companies paying their employees.
And shifting the discussion to CEO compensation is just dishonestly shifting the goal posts from my original point.
Do you even understand how the stock market and how mutual funds work? Because it doesn’t read as if you do.
Posted by: Q | September 20, 2009, 8:35 pm 8:35 pm
“US News and World Report, Feb. 9, 2009″
“you’ve been fact-checked and have been found wanting.”
And you’ve been found to use silly data.
How could USN&WR do an analysis of the effect of the stimulus less than a month after Obama was sworn in?
Posted by: OB-Wan222 | September 20, 2009, 8:37 pm 8:37 pm
“President Obama promised nothing of the sort.”
He absolutely did. Even TIME Magazine (you know, that right-wing rag) said as much:
Obama’s Stimulus Plan: Failing by Its Own Measure (July 14, 2009)
“The $787 billion stimulus plan is turning out to be far less stimulating than its architects expected.
Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn’t quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983.
The two advisers who wrote the paper, Christina Romer and Jared Bernstein, went on to land key jobs in the Obama Administration. Romer is the head of Obama’s Council of Economic Advisers, and Bernstein is the chief economist and economic-policy adviser to Vice President Joe Biden. And the stimulus bill that both economists championed became law in mid-February. What has not come to pass, however, is the boom in job creation that Romer and Bernstein predicted. A little over a month ago, the Administration said the stimulus bill had created or saved 150,000 jobs. That’s a far cry from the 3 million to 4 million jobs that Romer and Bernstein foresaw back in January.”
Posted by: Jenn | September 20, 2009, 8:40 pm 8:40 pm
“Uh, you can’t separate corporate profits from middle class investors… that are tied to so-called “corporate greed” which come in the form of profits.”
And you can’t separate profits from expenses, like compensation. The more they pay in compensation the less profit they have to distribute to investors.
You do understand how Profit and Expenses work, right, because you don’t seem to see the connection.
See how the insult game can work both ways, so let’s just discuss this like adults.
Posted by: OB-Wan222 | September 20, 2009, 8:44 pm 8:44 pm
“President Obama promised nothing of the sort.”
“two of his chief economic advisers — leading proponents of a stimulus bill — predicted…”
You didn’t present anything that Obama said, you merely found an article where people that work for him made representations about the stimulus.
Besides we won’t really know what the effect of the stimulus bill is until the dust settles in a year or so and economists do the analysis.
Posted by: OB-Wan222 | September 20, 2009, 8:50 pm 8:50 pm
“President Obama promised nothing of the sort.”
Julie, the President and his advisers sold us on the assurances that the stimulus would curb unemployment per the following:
“They [Republicans] are referring to a Jan. 9, 2009, report called “The Job Impact of the American Recovery and Reinvestment Plan” from Christina Romer, chairwoman of the president’s Council of Economic Advisers, and Jared Bernstein, the vice president’s top economic adviser.
“Their report projected that the stimulus plan proposed by Obama would create between three and four million jobs by the end of 2010. The report also includes a graphic predicting unemployment rates with and without the stimulus. Without the stimulus (the baseline), unemployment was projected to hit about 8.5 percent in 2009 and then continue rising to a peak of about 9 percent in 2010. With the stimulus, they predicted the unemployment rate would peak at just under 8 percent in 2009.” -PolitiFact, July 8, 2009
It was this report and other advisement that the President used as justification for his claims back in February that the stimulus would create or save millions of jobs.
Posted by: Q | September 20, 2009, 8:52 pm 8:52 pm
“You didn’t present anything that Obama said, you merely found an article where people that work for him made representations about the stimulus.”
LOL!
Posted by: Jenn | September 20, 2009, 8:52 pm 8:52 pm
-Besides we won’t really know what the effect of the stimulus bill is until the dust settles in a year or so and economists do the analysis.-
Can’t wait to hear what they’ve got to say! Especially Krugman. Listen, if you think the “dust will settle” in a year, you’ve got another thing coming. Besides, all these creeps are tied into the Fed. Grim over at the Huffington Post has a nice article on it.
Posted by: Roper | September 20, 2009, 8:58 pm 8:58 pm
“How could USN&WR do an analysis of the effect of the stimulus less than a month after Obama was sworn in?”
That’s a strawman given Julie’s original charge. Her claim was the President never promised that jobs would be ADDED or that unemployment would rise over 8%.
Posted by: Q | September 20, 2009, 9:00 pm 9:00 pm
“Her claim was the President never promised…”
And you’ve presented comments from everyone EXCEPT Obama. Still can’t find anywhere where HE made that statement?
Posted by: OB-Wan222 | September 20, 2009, 9:09 pm 9:09 pm
“And you can’t separate profits from expenses, like compensation. The more they pay in compensation the less profit they have to distribute to investors.”
Obi Wan, like I said to Julie, you’re just shifting the goal posts on her original assertions.
But let’s talk about profits and how you seem to think that dictating/capping/curbing CEO pay is somehow going to return a significant sum of money to shareholders. You have added up the amount of money saved by curbing CEO pay and divided it by the number of shares outstanding to calculate the real dollar return for middle class shareholders, right? While you’re at it, let’s expand this discussion to capping pay for music entertainers, Hollywood actors and directors, and professional athletes who make far, far more than $2 million/year – and who are major contributors to the DNC.
Posted by: Q | September 20, 2009, 9:10 pm 9:10 pm
“Still can’t find anywhere where HE made that statement?”
BTW I’m not saying you can’t just that you haven’t.
After all, he’s a politician and as I have said repeatedly, every politician lies – every party, every era, here and there, past and present.
Posted by: OB-Wan222 | September 20, 2009, 9:11 pm 9:11 pm
“And you’ve presented comments from everyone EXCEPT Obama. Still can’t find anywhere where HE made that statement?”
The President never disavowed the report while he was selling us some of the talking points out of it. Barack Obama is not a god, and he is responsible for what his administration produces in support for his talking points.
After all, it’s why we call it the OBAMA Administration.
Posted by: Q | September 20, 2009, 9:16 pm 9:16 pm
“you seem to think that dictating/capping/curbing CEO pay is somehow…”
Wow, and you’re a mind reader.
“You have added up the amount of money saved by curbing CEO pay and…”
Well, first you assume that only one person’s pay should be less. If the CEO is getting millions than that culture speads to any number of executives. There is no way of knowing if the pay of the CFO, CIO, etc. is too much. But I think you would have to agree that paying bonuses to leaders of companies that are failing is a bad idea.
“While you’re at it, let’s expand this discussion to capping pay for music entertainers, Hollywood actors and directors, and professional athletes..”
Oh, on that we agree. Our values are totally screwed up. We pay billions to amuse ourselves (you forgot gambling, painters/artists, etc.) but policemen and firemen have to beg to get a 2% raise.
Police/Firemen should be paid what foorball players are paid and vice versa.
But I don’t know how to fix that. I am NOT in favor of passing laws to fix the problem, but I just don’t have a solution except for everyone suddenly coming to their senses and realizing that we need to pay people that do real work more than people that produce nothing but fluff.
Posted by: OB-Wan222 | September 20, 2009, 9:21 pm 9:21 pm
“President-elect Obama said Saturday an analysis of his stimulus proposals shows that between 3 million and 4 million U.S. jobs could be saved or created by 2010, nearly 90% of them in the private sector.”
-CNN, Jan 10, 2009.
Posted by: Q | September 20, 2009, 9:23 pm 9:23 pm
“The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama’s handling of the economy has declined along with the jobs data.” – Huffington Post, June 8, 2009.
Posted by: Q | September 20, 2009, 9:27 pm 9:27 pm
“President-elect Obama said Saturday an analysis of his stimulus…”
Well, that’s not a lie on his part. There was an analysis that represented what the stimulus would do. Maybe the ANALYSIS lied, but Obama didn’t.
You see you have to deconstruct these sentances to see what they really say.
This is fun.
Posted by: OB-Wan222 | September 20, 2009, 9:32 pm 9:32 pm
“Public opinion of Obama’s handling of the economy has declined along with the jobs data.”
Gee, what a surprise. When unemployment is high, people are unhappy with whoever is President at the time. Gee, who would have thought that?
Because it’s always been that way, maybe?
Posted by: OB-Wan222 | September 20, 2009, 9:36 pm 9:36 pm
I posted much earlier that the headline for this story should read, “Mitt WRONG about figures for cap & trade”. I revisit hours later to find numerous people still commenting that obviously haven’t read the article.
READ the article. It disproves Mitt’s silly tax numbers. There will be a negligible raise in taxes.
Sheesh.
Posted by: Lydia | September 20, 2009, 9:47 pm 9:47 pm
“If you really believe a CEO making $2 million isn’t ethical”
_________________________________
Thats’ $12 MILLION per year. Pretty careless with figures for knowing so much.
Posted by: julieterra | September 20, 2009, 9:50 pm 9:50 pm
“It was the most memorable time of my life. It was a touching moment. Because, I, I never thought this day would ever happen. I won’t have to worry about putting gas in my car, I won’t have to worry about paying my mortgage, you know, if I help him, he’s gonna help me.” – Peggy Joseph, Obama Supporter, Tampa, October 29, 2008
I wonder how HOPE and CHANGE are working out for Ms. Joseph these days.
Posted by: Mary | September 20, 2009, 9:55 pm 9:55 pm
“It was this report and other advisement that the President used as justification for his claims back in February that the stimulus would create or save millions of jobs.”
_______________________________________
I’ve read the report the per centage unemployment figures come from and it was made very clear in that report that the world-wide economic meltdown was unprecedented and that their future projections are unreliable because of this.
The two authors of the report clearly stated that figures were not intended to be exact predictions of the future and that a wide margin of variability would be expected.
Time to stop trotting out this tired old right wing lie.
Posted by: julieterra | September 20, 2009, 9:56 pm 9:56 pm
“I’ve read the report the per centage unemployment figures come from and it was made very clear in that report that the world-wide economic meltdown was unprecedented and that their future projections are unreliable because of this.”
LOL. That’s the defense for getting their projections horribly wrong? What about betting $787 billion gamble on how we’d stave off 9.5% UE the Administration was claiming would happen should the stimulus NOT pass? But more specifically, what about the fact that 8 months in we’ve now seen UE consistently rise month over month sincce February. The “Oh, we didn’t know how bad it was going to be” line was the same excuse the Bush Admin. used for the post-invasion occupation of Iraq. Did you buy that defense then? If not, then why are you buying the same defense now?
“The two authors of the report clearly stated that figures were not intended to be exact predictions of the future and that a wide margin of variability would be expected.”
Yeah, and the President never cited the report’s findings in his talking points leading up to the signing of the bill. Try again.
“Time to stop trotting out this tired old right wing lie.”
Yeah, a “right wing lie” is anyone who has the audacity to quote the Administration’s assertions back to them. But hey, cite me the article/quote before the stimulus passed that shows where President Obama disavowed his Administration’s report.
Posted by: Q | September 20, 2009, 10:45 pm 10:45 pm
“The reality: Hollywood’s 10 best-paid actors out-earned Hollywood’s 10 best-paid actresses 2-to-1 over the course of the year.”
“Collectively, the big screen’s leading men took home an estimated $487 million between June 1, 2007, and June 1, 2008, compared with the leading ladies’ haul of $244.5 million.” – Forbes July 22, 2008.
So Julie’s all hot and bothered by “evil CEO’s” making $12 million/year when the top 10 actors on average each make almost 4x’s more and the top 10 actresses make twice as much as the $12 CEO. Yeah, Hollywood actors work so much harder. LOL. Of course, Julie won’t tell you to boycott the local cinema anymore than Republicans would tell you to boycott Exxon.
Posted by: Q | September 20, 2009, 10:56 pm 10:56 pm
Posted by: Q | Sep 20, 2009 10:45:34 PM
___________________________________
The right wing always trots out the lie that the President promised a specific unemployment rate . . . it’s a complete lie.
These were projections in a report, and the report went to great pains to state the figures should not be taken as precise predictions, nor were the figures meant to be taken as absolute. They explicitly pointed to a large margin of error in their figures they presented.
It’s only the anti-Obama types who have extrapolated this into “the President promised us this – and now we’re going to whine and whimper”.
You seem oblivious to the fact there was an unprecedented (and at least by Bush ['it's just a rough patch']) unexpected world-wide financial collapse that all of the major western industrialized nations are struggling to recover from.
Seriously, Bush called it ‘just a rough patch’ back when he had the reigns and it was collapsing under him.
Posted by: julieterra | September 20, 2009, 11:18 pm 11:18 pm
Well speaking of getting figures horribly wrong it looks like nobody is better at it than ol’ Mitt[job killer]Romney is. But why should we be surprised when numbers are carelessly thrown around by the same guy that casually tied his dog’s cage to the roof of his car and went on vacation?
Posted by: Skip | September 20, 2009, 11:33 pm 11:33 pm
The only secret is that the lockstep loudmouths O’Reilly, Limbaugh, Coulter, Beck, Gingrich, and Hannity actively conspire to define their lies, and to spread them 24×7 to try to drag American and Obama’s leadership down. Obama proved today that he is up for their challenge. These clown loudmouths will rue the day that they tried to destroy America.
Posted by: WestCoastMessenger | September 21, 2009, 12:24 am 12:24 am
Obama-barkers are out in full strength
tonite. Is there a full moon? If you
missed him today all over the TV set,
wait until he hits Nickelodeon, Oprah,
and Sportsman’s Channel. I mean, the
dude is so “versatile” and not averse
to exploiting “free” venues to sell
his expensive wares.
Posted by: Trajan | September 21, 2009, 12:32 am 12:32 am
“the lockstep loudmouths O’Reilly, Limbaugh, Coulter, Beck, Gingrich, and Hannity”
____________________________________
And they twist their lies and hate for big, big media money . . . that’s the right wing prerogative – money justifies anything.
Posted by: julieterra | September 21, 2009, 12:44 am 12:44 am
This President works under the cloak of darkness and no one can get ANYTHING out of the White House without a Freedom of Information lawsuit! What happened to all that “transparency” he promised? It’s Obamas fault if figures are not precise. He should be more forthcoming with the Media and the American people. We are sick of his “Chicago Way” of doing simple tasks. It’s getting tedious and even infuriating! Counting the days!!!!!
Posted by: Sunnyr | September 21, 2009, 1:14 am 1:14 am
Obama is on TV more than the Sham Wow guy and still no one is buying what he is trying to sell. It’s time for him to get OFF THE TUBE and start leading this country from the CENTER, instead of the far, far LEFT. This country is a “Center Right” country and he has to learn to deal with it!
Posted by: Sunnyr | September 21, 2009, 1:19 am 1:19 am
What’d you expect. After all Romney is a Republican, and anyone with any brains at all, knows it’s pretty much impossible to get an accurate and factual answer from Republicans.
Posted by: Blazerdad | September 21, 2009, 1:22 am 1:22 am
“no one is buying what he is trying to sell”
Posted by: Sunnyr | Sep 21, 2009 1:19:49 AM
___________________________________
Sunnyr no one will believe anything you type if you can’t get your facts straight.
“Fifty-five percent of Americans approve of how Obama’s handling his duties in the White House, according to the CNN Poll of Polls . .. (which)consists of the six surveys conducted since Obama’s speech to Congress on September 9: Fox News (Sept. 15-16), Pew (September 10-15), Bloomberg (September 10-14), CNN/Opinion Research (Sept. 11-13), USA Today/Gallup (Sept. 11-13) and ABC/Washington Post (Sept. 10-12).
Posted by: julieterra | September 21, 2009, 1:24 am 1:24 am
84% of Democrats approve of Barack Obama’s “performance” as President of the United States, according to the most recent Rasmussen tracking poll.
And exactly what are 84% of Democrats approving?
84% of Democrats approve of burning 100 Afghan civilians to death in Kunduz.
84% of Democrats approve of killing 95 Afghan children in Farah.
84% of Democrats approve of long-term unemployment and destitution for millions of Americans.
84% of Democrats approve of $23.7 trillion in guaranteed loans for criminal bankers.
84% of Democrats approve of Obama’s flipflop about tax-cuts for billionaires.
84% of Democrats approve of Obama’s flipflop about NAFTA.
84% of Democrats approve of Obama’s flipflop about the Employee Free Choice Act.
84% of Democrats approve of huge cash outlays to mortgage bankers…
The outlay has already reached about $1 trillion over the past year and is rising. During that time, the government has pumped more money into the mortgage market than has been spent on Medicare or Social Security or the defense budget…
…while hundreds of thousands of homeowners are still foreclosed every month, and in August 2009, there was “a record high number of properties either entering default or being scheduled for a public foreclosure auction for the first time,” and…
Payrolls bled out another 216,000 jobs in August, and…
84% of Democrats approve!
Posted by: Here's Your Change | September 21, 2009, 7:31 am 7:31 am
Surprise! More hidden taxes by President Obama.
“Spread the wealth” has become “quash average Americans’ income”. Make us all the underclass and dependent on the government.
Posted by: Eg"O"tastic | September 21, 2009, 8:31 am 8:31 am
Sure, but how many green jobs(!) will it “create or save??” Millions, I’m sure; just like The Stimulus.
LOL
Posted by: Redistribution Czar | September 21, 2009, 9:28 am 9:28 am
What a shock that the right wing media is engaging in such outright deception.
Next thing you’ll tell me that FoxNews led tea partiers to cheer during news segments…oh wait.
Posted by: Ryan C | September 21, 2009, 10:47 am 10:47 am
If there is one thing for certain, the American taxpayer will foot the bill, no matter whose numbers we choose to use.
Being a realist, I would expect the higher numbers to be more real, than the lower numbers.
That primarily because, social programs are the current “fad” in Washington, again, and frankly, those cost so much, that it is inevitable, that taxes will have to increase dramatically to pay for them, if they are passed.
That goes for environmental actions as well.
If we are to be taxed, then the taxes should be on children, and do away with tax credits for children, entirely.
The environment cannot be saved with any current plans WITHOUT an accompanying reduction in world populations of humans. That is simple math, as well.
Posted by: Rick McDaniel | September 21, 2009, 10:48 am 10:48 am
To all lefties, maybe we can bring some truth about Obama when he finally gives us some. Everything so far is either underhanded or a straight out lie.
Posted by: lyineyes1956 | September 21, 2009, 10:50 am 10:50 am
Why don’t we let Democrats pay for the that piece of garbage by themselves?
When James Hansen says that bill is worse than worthless, it must be absolutley horrible.
Then again, it’s not about the environment. It’s about money and control.
Posted by: drjohn | September 21, 2009, 11:03 am 11:03 am
“The estimate does not account for revenue that will be returned to consumers in the form of rebates and other efficiency measures.”
Kinda like jobs created or ‘saved’ and billions in savings from Medicare and Medicaid? (If they KNOW about fraud and waste in Medicare and Medicaid, shouldn’t that be addressed regardless of the health care ‘restructuring’.)
All smoke and mirrors.
“We” pay taxes. The money for rebates comes from taxpayers either through our purchases or our incomes.
Posted by: Houdini | September 21, 2009, 11:28 am 11:28 am
Americans for prosperity has issued a paper showing who benefits from Cap and Trade.
Democrats, of course.
And George Soros.
Posted by: drjohn | September 21, 2009, 11:49 am 11:49 am
President’s ratin TODAY. The Rasmussen Reports daily Presidential Tracking Poll for Monday shows that 30% of the nation’s voters Strongly Approve of the way that Barack Obama is performing his role as President. Thirty-eight percent (38%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -8.
Overall, 49% of voters say they at least somewhat approve of the President’s performance. Fifty (50%) now disapprove.
Cars for Clunkers – double the White House Estimates and had to be cut early.
8,000 house rebate – Over double the estimates and climbing.
Cap and Trade – ?????
Posted by: wheresmymoney | September 21, 2009, 12:06 pm 12:06 pm
Not only will this cap and tax cost Americans a fortune, it will forcibly limit the choices of what energy they would like to choose. The main reason that we are going to pay through our noses for energy is that they are trying to make inefficient, impractical alternative energy sources competitive with current energy sources. The one world vision of extremists is going to destroy this nation. We are blessed as a nation with oil, natural gas, coal and the ability to build safe nuclear power stations. Yet, we are being led by a pied piper whose only vision for the United States is that it be part of a world order. God help us.
Posted by: afloatinasea | September 21, 2009, 12:50 pm 12:50 pm
Since when has anything come in under budget?
Posted by: jonec1200 | September 21, 2009, 12:59 pm 12:59 pm
The truth of the matter is that it will cost me somewhere between $160 and $1,761. Knowing this government I’m afraid it will be closer to the higher number.
Posted by: Joe Eckhardt | September 21, 2009, 12:59 pm 12:59 pm
If 84% of Dems approve of Obama, as was stated above, I’m sure glad I’m one of the 16% who isn’t drinking his koolaid.
Posted by: Elaina | September 21, 2009, 1:06 pm 1:06 pm
“lyineyes1956″ Your innuendo about lies from the President is and extreme version of the pot calling the kettle black. If you insist on making such accusations then you need to be able to relate to the rest of us what those are. Make sure that you provide for us the unbiased multiple sources of your proof that this has been going on. Make sure that your accusations are not just prejudicial supposition because you hate what he represents but actual real truth with REAL FACTS. Remember this, very well, speculations, guessing, accusations, lies, etc, are not the truth or factual. Do some real research with multiple unbiased sources and get back with us. Please! Who knows, you might find that there are REAL solutions out there that are constructive instead of your destructive ones.
Posted by: dlboggan | September 21, 2009, 1:25 pm 1:25 pm
Rick McDaniel: Being a realist does not mean you are always right……
Posted by: dlboggan | September 21, 2009, 1:26 pm 1:26 pm
To “Here’s Your Change”: Your post is more proof of unproven lies and extremist truth distortion from another far-right extremist who will do anything, at all costs, to discredit anything not labeled “republican”. Another reason why REAL Republicans who cannot stand your rhetoric are leaving the party of NO in droves.
Posted by: dlboggan | September 21, 2009, 1:31 pm 1:31 pm
Posted by: Joe Eckhardt | Sep 21, 2009 12:59:56 PM: How do you know it is the higher number. Give us some truth and some REAL facts behind that statement, not just speculation.
Posted by: dlboggan | September 21, 2009, 1:33 pm 1:33 pm
-Another reason why REAL Republicans who cannot stand your rhetoric are leaving the party of NO in droves.-
Numbers please.
Posted by: Please | September 21, 2009, 1:40 pm 1:40 pm
The Obama Administration….
KINGS OF THE NEW MATH!
ALL HAIL !!!!!!
Posted by: Mike_C | September 21, 2009, 1:57 pm 1:57 pm
KINGS OF THE NEW MATH!
Posted by: Mike_C | Sep 21, 2009 1:57:02 PM
If you read the post, the “new math” or oversimplified math or fuzzy math or all three was used by Mitt Romney, cons and GOP’rs– I noticed Boehner cited the number as well on Meet the Press.
Posted by: Alyson | September 21, 2009, 2:38 pm 2:38 pm
Posted by: Please: You want numbers? Hmm, I see accusations and assumptions from multiple posts in here and other places that have NO FACTS whatsoever. Now why should I practice what many here, maybe even yourself, do not practice what you have attempted to preach here. I choose to now follow the example of the extremist right-wingers that are posting here and are flooding our airwaves. Tell me one good reason why I should not do you those on the far right are doing on a regular day-by-day almost hour-by-hour basis. Republicans have not just become the party of “NO” but also the party of extremist propaganda, rhetoric, distortion, and miss-information. You cannot tell me I am wrong and so I conclude the people of reasonable thinking and protectors of REAL truth ARE LEAVING THE REPUBLICAN PARTY IN DROVES. I stand on this statement no matter what you say are how you attempt to prove otherwise. I win, you lose type of attitude whereby no one wins. Do you get the point? I doubt it when the mantra is all methods and means to win no matter what the damage. Destroy ALL American values and all that is good hold power and win. No middle ground, just single-minded agenda. You are ALWAYS right no one else can be right.
Posted by: dlboggan | September 21, 2009, 2:52 pm 2:52 pm
Posted by: Please: You want numbers? Hmm, I see accusations and assumptions from multiple posts in here and other places that have NO FACTS whatsoever. Now why should I practice what many here, maybe even yourself, do not practice what you have attempted to preach here. I choose to now follow the example of the extremist right-wingers that are posting here and are flooding our airwaves. Tell me one good reason why I should not do what those on the far right are doing on a regular day-by-day almost hour-by-hour basis. Republicans have not just become the party of “NO” but also the party of extremist propaganda, rhetoric, distortion, and miss-information. You cannot tell me I am wrong and so I conclude the people of reasonable thinking and protectors of REAL truth ARE LEAVING THE REPUBLICAN PARTY IN DROVES. I stand on this statement no matter what you say or how you attempt to prove otherwise. I win, you lose type of attitude whereby no one wins. Do you get the point? I doubt it when the mantra is all methods and means to win no matter what the damage. Destroy ALL American values and all that is good to hold power and win. No middle ground, just single-minded agenda. You are ALWAYS right no one else can be right.
Posted by: dlboggan | September 21, 2009, 2:55 pm 2:55 pm
Posted by: dlboggan: Having a considerable number of relatives in govt jobs it has, for years, been an ongoing joke that the govt always takes the lowest quote only to pay 3x the amount by the time the job is complete. In other words, nothing ever comes in under budget or estimate it is always over the original estimated figure by a considerable amount. Therefore, based on this experience, I believe as does the poster you are challenging, that the per household amount will be much closer to the higher end of the spectrum than the lower. Sorry, I don’t trust govt math…hasn’t been working well for decades.
Posted by: Once Again | September 21, 2009, 3:01 pm 3:01 pm
If the cap and trade will not cost jobs why did the Democrats add language to the bill that allows the Administrators of Social Security and Medicare to draw money from the general fund,if the Cap and trade(energy bill) costs jobs?
Posted by: Marion | September 21, 2009, 3:13 pm 3:13 pm
Once Again | Sep 21, 2009 3:01:26 PM: And I trust the “purely for profit” private corporations even less so as they will, on every level, find all means possible to improve profits in spite of the negative affects that those profits have on the health of the patient. The health industry is NOT THE RIGHT PLACE TO MAKE A PROFIT. There are so many improper values that go against the health of out citizens in the country. I cannot EVER agree with private industry owning the primary health care coverage and services of our citizens. It does not work as by its very nature Greed will ALWAYS trump societies needs. And this means you too. The system should reward how well we serve the health of the country not by how much we save by destroying it, or in this case denying it. Your numbers are moot in the argument. I would trust government care far more than profit based private corps.
Posted by: dlboggan | September 21, 2009, 3:22 pm 3:22 pm
Posted by: dlboggan | Sep 21, 2009 3:22:50 PM —– then you will pay out the tail end for that “trust” you so blindly allow the elitists who run this govt. Good luck with that and have a great day.
Posted by: Once Again | September 21, 2009, 3:30 pm 3:30 pm
Hi Jake,
You are a sharp cookie. I suspect you know far more than you write. Please keep people’s feet to the fire until the truth is uncovered. We can’t afford 9/10 of what this administration wants to do and I am more than concerned not just about my family and community, but our nation.
Please continue to do good work and don’t let this administration get away with murder.
Thanks, Jake.
Posted by: SjB | September 21, 2009, 3:48 pm 3:48 pm
Please, this cap and tax fraud is just another way for the Feds to tax people. I am so sick of Obama, I just turn off the TV If I even hear he is going to be on. I cannot stand his explanations targeted at 3 year old.
Posted by: brian | September 21, 2009, 3:50 pm 3:50 pm
SjB | Sep 21, 2009 3:48:32 PM: What ever you think you read, Jake did not take either side on this question but was questioning BOTH sides. Whatever made you think that the higher number was the correct number was just WISHFUL THINKING on your part. Distortion of of JAKES article is just another way to distort the truth for those whom have not taken the time to read the full article. Very RIGHT WING REPUBLICAN of you.
Posted by: dlboggan | September 21, 2009, 4:01 pm 4:01 pm
$1761 / family or per family that
pays taxes or more per families which pays taxes because of the demorats that don’t?
Posted by: Jack Kinch(1uncle) | September 21, 2009, 4:04 pm 4:04 pm
Julieterra…you are right, it will be a negligable increase in “taxes”…however prices, costs, fees and everything else will skyrocket and everybody’s net worth and spending ability will be hurt immensely.
Posted by: JBC | September 21, 2009, 4:12 pm 4:12 pm
General Electric (this administration’s Halliburton) stands to make a fortune off Cap and Trade.
Posted by: JBC | September 21, 2009, 4:14 pm 4:14 pm
Should non-tax payers vote? Is there vote buying handouts from big govern ment? Are lobbests with campaign
contributions buying handouts. We need an amendment to the constitution stopping benefits tos special interest groups.
Posted by: Jack Kinch(1uncle) | September 21, 2009, 4:16 pm 4:16 pm
Cap and Trade will do NOTHING to help the environment. It has already been proven. Still, nobody on the left seems to care that this is simply a big money making scheme for certain extremely rich elitests who are poised to make billions more off bad legislation while doing nothing to help the environment and doing everything to hurt the average citizen. What I don’t get is why the lefties are not concerned about how much this will hurt the poor?? The poor will suffer the most!
Posted by: JBC | September 21, 2009, 4:23 pm 4:23 pm
when has the government ever saved anyone money?
This admin is so inept, I’m skeptical of every secretive action, notice the most transparent admin needed FOIA…to comly…
Troubling…
Posted by: Shyron M. Beavers | September 21, 2009, 4:23 pm 4:23 pm
Cap and trade is a non-existant solution to a non-existant problem, yet for some unknown reason millions of people who are incapable of grasping the science behind what drives the climate are willing to buy into this story hook, line and sinker. Guess who stands to profit from trading carbon credits? Look up Generation Investment Management. P.T. Barnum would be proud.
Posted by: Woody | September 21, 2009, 5:06 pm 5:06 pm
So it sounds like the statement is true and without rebates to tax payers it couldn’t be false. So who’s paying for this? You’re not addressing the rest of the comments that $XXX billions of dollars will come into the government by simply further taxing American businesses, and it appears “revenues” are the taxes collected from Cap and Trade.
Posted by: Micah | September 21, 2009, 5:36 pm 5:36 pm
“You cannot tell me I am wrong and so I conclude the people of reasonable thinking and protectors of REAL truth ARE LEAVING THE REPUBLICAN PARTY IN DROVES.”
Why do you care? You hate Republicans. Democrats have super majorities in both chambers of Congress. Your HOPE and CHANGE Utopia is here! Go ahead, shed that frown and give that unicorn a hug. Yes you can!
Posted by: Stacey | September 21, 2009, 6:49 pm 6:49 pm
Only an idiot would believe that any tax or whatever they call it which is added onto the cost of any item will not be passed onto the consumer. In simple terms cap & trade is a tax on the entire americam population. Only a fool would come up with a plan like this. Time to get rid of the Pelosi, Obams, & Reid Connection (PORC).
Posted by: Sandcrab1612 | September 21, 2009, 7:34 pm 7:34 pm
Everytime Obama opens his mouth, it costs the taxpayers billions of dollars. Just keep making life more expensive! We love the government taking more and more away from us and wasting it or giving it to corporations as take over bailouts or fine, upstanding organizations like ACORN and all of it’s organizations. Bush spent like a drunken sailor, but you sir are Number 1 by a landslide. Bravo.
Posted by: TexBork009 | September 21, 2009, 9:06 pm 9:06 pm
How can people continue to ignorantly believe that we can keep polluting and dumping on this Earth and that it won’t retaliate against us? I mean it is a natural fact that human beings cannot survive without clean air and water! We keep dumping in our rivers pollutants that will only kill us and eventually that is our only water source. Do we want to look up at a dark and dingy sky where the Sun cannot even shine through? Some people are just so ignorant. What this cap & trade will buy us is it is going to force these power companies to start looking into more natural forms of power which are in abundance to us! Why are we not using these CLEAN forms of power?? Hydroelectric! BIOFUELS! We are just so ignorant! GOD gave us this beautiful Earth and all we can do is SH&T on it! We deserve what we get. We all deserve to die by our own accord!
Posted by: ltl lulu | September 21, 2009, 9:34 pm 9:34 pm
Maybe you should tell that to CHINA and INDIA, they are polluting more then the US. Your dreaming if you think that if we have the cap and tax that every other country will follow suit. But maybe you are in the same league as GE (NBC) and Vice Pres. Gore and make billions on the CAP and TAX.
Posted by: Lizzie | September 21, 2009, 10:32 pm 10:32 pm
First off, man-caused global warming is a hoax. The earth continually is changing and has over time. It’s been colder and warmer many times in the past. The tax is nothing more than another way to control our actions and move us closer to socialism and marxism. If we really wanted to reduce pollution and global warming, Nuclear energy could quickly reduce costs and emissions of coal plants that are one of the primary electricity producers.
Who do you think will pay the business portion of increased taxes. It’s always the consumer. Global warming is only a ‘scare-tactic’ used by the left to accelerate their agenda. It has nothing to do with the environment.
Posted by: mcrich | September 22, 2009, 2:17 am 2:17 am
Lizzie wrote – How can people continue to ignorantly believe that we can keep polluting and dumping on this Earth and that it won’t retaliate against us?
This is the perfect example of the arrogant, pacifist, ignorant, kumbaya liberal that is contributing to the dumbing down of this country and destroying its soul. Lizzie – here’s a news flash! There is NO RELATIONSHIP between pollution and CO2, so stop blurring the lines like the rest of your kind. And this hidious attempt to enact cap-and-trade to solve a non-existent problem is immoral and reprehensible to any thinking person. The U.S. has had incredible success over the past 40 years in curbing pollution and any efforts in that area are fully supported by Republicans and Democrats alike. Repeat after me. pollution…bad. Cap and Trade…unrelated. Man-made Global Warming…a farce.
Posted by: Steve in AZ | September 22, 2009, 4:08 pm 4:08 pm
Who is this Treasury Official? Giving 100 billion to 200 billion as an estimate auction revenue tells me this so called Official knows nothing. A 100 billion fudge factor!
Posted by: Mike | October 4, 2009, 12:56 am 12:56 am