As stolen from Machone onthe scout board...


Today, the House Energy and Commerce Committee began its multi-day markup of the misnamed American Clean Energy and Security Act of 2009, H.R. 2454. Sponsored by Committee Chairman Henry Waxman (D-CA), the bill attempts to impose a system of "cap-and-trade" in order to combat so-called "global warming." This massive, across-the-board household energy tax is being disguised by congressional liberals and is being sold under the slogan "cap-and-trade," which simply means giving the government power to put a cap on the amount of carbon emissions (CO2) produced by the production of electricity, gasoline, and heating oil, and forcing businesses to actively lobby Congress for higher cap levels and to buy permits for the emissions they are allowed.


It will raise electricity rates by 90 percent, gasoline by 74 percent, and residential natural gas prices by 55 percent by 2035, after adjusting for inflation.
It imposes an annual burden of $144.8 billion per year on U.S. households, and it will reduce household earnings by a projected $37.8 billion.
It will further cut U.S. employment levels by 965,000 jobs by reducing economic output by $136 billion per year-this translates to a $1,145 increase in energy costs per American household.
It will force low-income households to disproportionately bear the across-the-board energy cost increase, as a larger percentage of the poor's income goes toward energy costs, as opposed to wealthier households.
It sets the stage to effectively kill the coal industry as it will be taxed so heavily, it will not be able to sustain itself.


Still think the chosen one is only taxing hte rich and giving the middle calss it's biggest tax break in history? Seriously, he bribed the poor with this $400 per year while taking 3 times that in increased taxes.