"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket... whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money [cost] on to consumers."
Mr Obama's own words about his cap-and-trade energy tax. He addressed these remarks to ordinary Americans.
Cap and trade was designated as a response to Garbled Warming. The global maxima for average temperatures occurred in 2005 and there has a been a slight decline since. Imagine! A global warming policy so effective, results start fours years before the policy is even enacted.
Now you know this is not about the environment. Its only a lame excuse to do what Mr Obama loves to do; molest and harm the innocent. If this mother tax gets through Congress, and it looks likely, its gonna hurt.
Cap-and-trade will not pay tax directly to the government. Instead, carbon emissions are capped at some imaginary amount. Then every politically correct company in the United States is allocated an imaginary amount of carbon output.
The cap-and-trade idea has been around since the Carter administration in the 1970s. The government would not do it then since cap-and-trade is so obviously corruptible. The Obama administration plans to use exactly this corruption to hand out thick wads of your money to Mr. Obama's political pets.
Based on political connection, each company is then said to have already used a certain amount of carbon output. Then each company is told they will have to shut down (go broke) or buy carbon offsets on the "open market." This final element is why the Leftist-Fascist lying scum claim this is a "free market" solution. It is a deception.
Imaginary carbon output is allocated by the administration to their political pets. The effect is political pets will be given hugely valuable allocations of pollution rights, which they can turn around and sell to people who have legal need to get polluting rights in order to make the stuff the people need to survive.
Your simple survival will depend on political connections your grocer, farmer, electric company, water company --- and taken far enough, things like your breathing "privilege" (for which you would be taxed, naturally).
General Electric will get a monster allocation of carbon offset credits. Lets see, could that be because Jeffrey Immelt is one of Mr. Obama's "staffer?" (He is a "personal adviser.") Immelt is the CEO of General Electric, which owns the National Broadcasting Corporation, an early backer of Mr. Obama's candidacy.
The politically connected get rich, and everyone who is doing real work will get soaked. This is evil. Mr. Obama's cap-and-trade is corruption in extreme.
It will take years to repair the corruption and damage this administration is doing. The primary objectives of the Fascist Left is the destruction of American wealth and influence. Mission Accomplished, twerpwads.
Rasmussen remarked, "Congress Pushes Cap and Trade, But Just 24% [of the public] Know What It Is." Link. Rasmussen adds the legislation is being rushed through in such away that not enough public debate is had.
Why am I not surprised? Public debate is a quality of free democracies. Enacting legislation in secrecy and haste are characteristics of a totalitarian plutocracy. The "change" we got with Mr Obama is a disaster for our freedom.