Free Markets, Free People
People Opposed To Cap-And-Trade
As Congress members slink back into Washington DC to get trauma treatment for their townhall wounds, a new Rasmussen poll indicates cap-and-trade legislation isn’t much more popular than health
care insurance reform.
The survey of 1,000 adults showed 35 percent of Americans favor the climate change bill, while 40 percent oppose it.
Nearly one adult in four — 24 percent — are not sure whether passage of the bill is a good idea — findings which reflect virtually the same results as in late June.
While that may not seem overwhelming, it changes dramatically when the question of cost to the person being polled is brought up:
On economic impact of the legislation, 56 percent said they are unwilling to pay more in taxes and utility costs to generate cleaner energy and fight global warming, the same number who expressed that opinion in June.
Another poll mirrored the results. Of those polled in a Washington Post/ABC poll 52% supported cap-and-trade legislation, until cost was introduced into the questioning:
When asked if a cap and trade program “significantly lowered greenhouse gases but raised your monthly electrical bill by 25 dollars a month” – then only 39 percent support cap and trade while 59 percent oppose it.
The Heritage Foundation modeled the current pending legislation and found that on average it would increase electricity prices by $32.67 a month. But that’s just part of it:
But that’s just one small chapter in the book on how an average family of four’s pocketbook would be hit. Cap and trade is a massive tax on energy across the board – so your electricity bills will rise and so will everything else – gasoline, natural gas, and home heating oil. Add it up and the family of four energy expenditures increase on average by $69 per month from 2012-2035. Because the carbon caps become more stringent in subsequent years, the costs are highest in 2035 at $103 per month in the form of direct higher energy prices.
And we’re still not done – also added into the mix are the indirect costs these price increases will bring:
The energy tax also hits producers. As the higher production costs ripple through the economy, the household pocketbooks get hit again and again when producers pass costs onto the consumers. If you look at the total energy tax from Waxman-Markey, it works out to an average of $2,979 annually from 2012-2035 for a household of four. By 2035 alone, the total cost is over $4,600.
Now that $32.65 a month for the family of four has grown to $248.25 brought on solely by the imposition of cap-and-trade. Add to that the cost of the proposed health
care insurance reform, the bailouts, the unstimulating “stimulus” and the pork laden emergency spending bill, plus a 10 year budget that puts us 9 trillion further in debt and you can begin to understand why the American people are angry and the clueless Congress and administration are seeking trauma care.
Like one woman said at one of the townhall meetings, echoing Adm. Yamamoto’s WWII quote, “I think you’ve awakened a sleeping giant”.
I certainly hope so. And if so, hopefully cap-and-trade will go the way of the Dodo bird, and become an extinct idea. Cap-and-trade is based on dubious and unsubstantiated science and it is obviously detrimental to the economic health of this nation. It should be abandoned immediately.