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What are your thoughts on increased utility costs?

A new report by the respected Tax Foundation found that cap and trade would impose an annual burden of $144.8 billion per year on U.S. households.
Depending on how the process is structured, cap and trade could reduce household earnings by $37.8 billion, decrease U.S. employment by 965,000 jobs, and reduce economic output by $136 billion per year or roughly $1,145 per household.

Cap and trade would be a regressive tax. The burden would be disproportionately borne by low-income households.

The Tax Foundation estimates that the bottom 20 percent of income earners would have an annual cap-and-trade burden equal to 6.2 percent of their household cash income, and the second quintile 3.2 percent.
http://www.taxfoundation.org/

Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 6:20 PM on May. 13, 2009 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (16)
  • Do you agree with this article? If you don't, please provide a solid argument against it.
    grlygrlz2

    Answer by grlygrlz2 at 6:21 PM on May. 13, 2009

  • I AGREE with it! However, many of those who support Obama do not understand the impact of what CAp and Trade REALLY means for them! They're all pleased as punch to be getting an extra $13 per paycheck....which will be the equivalent of about 1 kilowatt when BO is done "fixing" things! ::sigh::
    LoriKeet

    Answer by LoriKeet at 6:32 PM on May. 13, 2009

  • I agree, Lori. Most Obama supporters don't have a clue as to what cap and trade is about. Sad....
    Ohh and here is the actual link. For some reason the original only went to home page.
    http://www.taxfoundation.org/publications/show/24472.html
    grlygrlz2

    Answer by grlygrlz2 at 6:34 PM on May. 13, 2009

  • Sure is QUIET in here, huh grly?! LOL  :o)

    LoriKeet

    Answer by LoriKeet at 6:57 PM on May. 13, 2009

  • ROFL.... Quiet, indeed. ::chirp chirp::
    grlygrlz2

    Answer by grlygrlz2 at 7:04 PM on May. 13, 2009

  • i like how you called him bo it reminds me of how stinky he is. ha ha
    mrssundin

    Answer by mrssundin at 7:04 PM on May. 13, 2009

  • I thought the reports showed an annual expenditure of $3100 per family.
    I am presuming that on a percentage basis, looking at the lower incomes we come up with these figures. With all this green globalization and Al Gore so hard at work, you would think the costs of energy would come down. There must be an inconvenient truth in there somewhere.
    Gas prices are also creeping back up again, can I blame Obama for that like they did Bush? Yes? ok, Damn you Obama.
    I'm over the cap and trade issue, I can afford my utility bills, see there, I took a liberal approach of " it doesn't affect me so I don't care" attitude. I am creeping to the other side!!
    Let all the braindead who based their vote on a check from Big O feel the hurt for the next 10 winters. It's too bad for them Global Warming didn't actually exist, they wouldn't freeze to death.
    akinbottom2

    Answer by akinbottom2 at 7:07 PM on May. 13, 2009

  • My electric co-op says our electric bill will go up between $58-$183 a MONTH. For someone who is poor or on a fixed income, that large of an increase will devastating. For businesses, it would mean eliminating jobs, or at least for-going raises, and increasing cost of goods and services.

    What little tax break we get is going to be eaten up by the increased costs of everything else.
    mancosmomma

    Answer by mancosmomma at 7:20 PM on May. 13, 2009

  • Increasing costs, no jobs, I just heard this morning that gas prices will continue to rise......

    They are going to suck it out of us one way or another........
    Anonymous

    Answer by Anonymous at 7:27 PM on May. 13, 2009

  • Our electric bill is going up 10% and cap and trade isn't even in effect yet!

    It may very well put me out of business. My fabric supplier is in the US and I have already been notified that costs will go up considerably. I won't be able to justify the increase.

    Gee I'm glad we have been saving $$ for years...looks like the rainy day is coming.
    yourspecialkid

    Answer by yourspecialkid at 7:31 PM on May. 13, 2009

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