Monday, March 2, 2009

Tax Increase on 100% of Americans

Obama says he won't raise taxes on 95% of Americans. Yet, he proposes a carbon tax (or CO2 credits, or CO2 cap and trade, etc.) If you cap the amount of CO2 that can be emitted, and either purchase credits, or permit allowables, or pay a tax on it-the cost that activity goes up.

In other words, gasoline, natural gas, oil, electricity (generated by natural gas or coal) goes up. In turn, businesses that may use gasoline, natural gas, oil or electricity (generated by natural gas or coal) pay higher taxes and pass them on to the consumer. Everyone in America that pays for electricity, natural gas or gasoline, or who buys anything will be affected by this tax.