Update and Correction On My Previous Cap and Trade Entry

I had stated the CBO had numbers were reflective of the Heritage Foundation's. Oops. Only a portion of it. If you want all the details of the bill go here and click the icon "Energy and Environment". Your representative probably hasn't read the bill. If they are supporting it, it's out of ideology, not sound fiscal policy.

From the Heritage Foundations analysis of the CBO analysis:
"Most problematic is their complete omission of economic damage from restricting energy use. Footnote three on page four reads, 'The resource cost does not indicate the potential decrease in gross domestic product (GDP) that could result from the cap. The reduction in GDP would also include indirect general equilibrium effects, such as changes in the labor supply resulting from reductions in real wages and potential reductions in the productivity of capital and labor).' That's a pretty big chunk of change to ignore. In The Heritage Foundation's analysis of the Waxman-Markey climate change legislation, the GDP hit in 2020 was $161 billion (2009 dollars). For a family of four, that is $1,870 that they ignore."
The CBO left a lot of costs out, which Heritage Foundation itemized.

From Heritage Foundation:
If you are looking for what to say, here’s a list of facts about how the energy tax would:

1. Reduce aggregate gross domestic product (GDP) by $9.6 trillion
2. Destroy an average of 1-3 million jobs, every year
3. Raise electricity rates 90 percent after adjusting for inflation
4. Raise inflation-adjusted gasoline prices by 74 percent
5. Raise residential natural gas prices by 55 percent
6. Raise an average family's annual energy bill by $1,500 annually
7. Increase the federal debt by 26 percent, which is $29,150 per person


If you want to protest this bill call 202 224-3121. This has been busy all day, so I went here where I entered my zip code and it gave me my congresswoman's local office. This is a Facebook site, but I'm sure if you Google your rep's name you could get the same info if you aren't a Facebook member. Or you can email your rep. I'm such a political nerd that I get an email update every time one of these knuckleheads vote.

This vote is being pushed through by the Democrat Party quickly, because they don't want to have a national debate or provide transparency. In a way, I'm kinda glad we're not having a debate here; people are getting killed by the government in Iran, and our Dear Leader said they were having a "robust debate". Make no mistake about it, this is a tax and power grab by the Democrat Party. It absolutely will drive up your cost of living and impoverish you. The Democrats know this, and want this passed before you wake up to it.