Family Security Matters » Publications » Exclusive: The Pending Tax Nightmare of ‘Cap and Trade’

Our Congress is pending receipt of legislation that will produce the most egregious and regressive tax ever levied on the American people and our economy. This is coming at a time when no one can afford the escalation of all energy prices such a tax will produce in every area of the American economy, from top to bottom, front to back.

The proposed structure of this tax would be to impose a consumption tax of 45 percent on all carbon based energy uses, from buses and trucks, to autos, to energy production. According to Congressional Watch, the price of every vehicle manufactured to the new emissions standard would be upped by $1,300 per vehicle, the price of gasoline would jump by 76 percent, and the price of electricity would jump by 95 percent.
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We are seeing a fantasy focus on job creation, one that has no connection to reality. We have to hope that our legislative processes moderate the extreme elements out of this. If this program isn’t done gradually, this economy will implode: period, no hedge.

Emissions scheme is like 'GST from Hell'

The federal government's proposed emission trading scheme is like as a "GST from hell", says an independent think-tank.

Times-Gazette.com - Coal lobbyist rips 'cap-and-tax' plan

Carey, who lobbies for the coal industry, said the credits would become a commodity that companies would use to turn a profit, a process he likened to auctioning off the emperor's new clothes.

"We created nothing. We did nothing. We had a product we were able to sell," Carey said. "You think it couldn't happen in America. Just look at the Madoff scheme."