by William Teach | April 25, 2016 7:37 am
This study puts into numbers what Skeptics have been saying for a long time
(Daily Caller) President Obama’s global warming plan would cost America’s poorest families billions annually, according to a report published Thursday by the Manhattan Institute.
The study estimates that Obama’s global warming plan would increase the costs of living for the poorest American families an additional $19 billion per year, equivalent to increasing their taxes by 166 percent. The tax increase would also raise taxes on other poor families by an extra $25 billion, equal to a 33 percent tax increase. Living costs for the richest households would only increase by 4 percent.
Democrats have yammered for years about the Bush tax cuts being solely “tax cuts for the rich” for over a decade. They complain that all tax cuts benefit the rich, and harm the poor and middle class, even when there are actual tax cuts for the poor and middle class. Yet, here we have an Executive Office initiative (not a law, mind you, because Obama won’t even bother to submit any legislation to Congress, and the “historic” and “landmark” Paris climate accord is structured to avoid the blessing of the duly elected Legislative branch) that will specifically cause way more economic harm to the poor and middle classes while sparing the rich from that pain.
Obama wants to implement the Enviromental Protection Agency’s Clean Power Plan, which would effectively tax four-fifths of American carbon dioxide (CO2) emissions and be similar in scope to an economy-wide carbon tax. In addition, Obama has proposed a $10.25-per-barrel oil tax.
Neither plan would have a large impact on global warming. Data modeling created by the EPA and run by the libertarian Cato Institute shows that the Clean Power Plan would only have adverted 0.019° Celsius of warming by the year 2100, an amount so small it couldn’t be detected.
One of the best ways to get people out of poverty is inexpensive, reliable energy. Obama’s plan will artificially increase the cost of energy while also increasing the cost of living.
Of course, you do know what the next step would be, right? Increased government payments to the poor, making them even more reliant on Government, in order to cover the mess government created in the first place. Funny how that works.
Let’s not forget that this study covers just two Obama proposals, as mentioned. What will all the other proposals do to the cost of living?
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.
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