As if the U.S. economy needed a new way to lose jobs and lay siege to American business (the business that is still here), Barack Obama’s new budget includes a cap and trade scheme that amounts to the biggest tax increase ever. And that’s just for starters. No, they won’t use the “T” word in this case.
Even as scientists struggle to study global warming due to the huge frozen ice masses at the poles, Obama continues the global warming charade, and plans to make more than a few bucks from it (Remember, they’ve only been tracking this ice melt for 30 years). The scheme is to penalize businesses that emit more than a set amount of greenhouse gases. If that business exceeds that set amount, they would have to buy credits to continue emitting. It’s not clear what would happen if those companies just didn’t have the money to buy the credits. Layoffs? Almost a certainty. Shut down? Another potential consequence. Off-shoring? Companies are already looking that way. After all, there are plenty of exploitable cheap labor markets with no kind of cap and trade laws. Those would be American jobs heading over there.
Depending on who you ask, this could cost American businesses billions of dollars and millions of jobs. Just what we need right now.
You could make an argument that all the great empires of history were ultimately destroyed from within. Is this how the U.S. will go down?