Stop The Massive Global Warming Tax Called Cap & Trade

A petititon to stop the imposition of the largest tax increase in American History.

HR 2454, the American Clean Energy And Security Act of 2009, will impose the largest tax U,S. history on American households. The Tax will hit the elderly and poor the hardest and will cost millions of lost jobs and raise the National Debt by some $7.0 trillion dollars. The other severe impacts to American Families are :

The typical family of four will see its direct energy costs rise by over $1,500 per year.

Pain at the electric meter causes consumers to reduce electricity consumption by 36 percent. Even with this cutback, the electric bill for a family of four will be $754 more that year and $12,933 more in total from 2012 to 2035.

The higher gasoline prices will have forced households to cut consumption by 15 percent, but a family of four will still pay $596 more that year and $8,000 more between 2012 and 2035.

In total, for the years 2012-2035, a family of four will see its direct energy costs rise by over $24,000. These inflation-adjusted numbers do not include the indirect energy costs consumers will pay as producers are forced to raise the price of their products to reflect the higher costs of production. Nor does the $24,000 include the higher expenditure for such things as more energy-efficient cars and appliances or the disutility of driving smaller, less safe vehicles or the discomfort of using less heating and cooling.

As the economy adjusts to shrinking GDP and rising energy prices, employment takes a big hit. On average, employment is lower by 844,000 jobs. In some years cap and trade reduces employment by more than 1.9 million jobs.

American Industry will move jobs overseas to Asia where much of their products are sold and where they can manufacture without the burdensome costs of the tax as Asia has no such tax and indeed refuses to consider adopting one. American Jobs will be lost as a result.

The negative economic impacts accumulate, and the national debt is no exception. Waxman-Markey drives up the national debt 29 percent by 2035. This is 29 percent above what it would be without the legislation and represents an additional $33,400 per person, or more than $133,000 for a family of four. To reiterate, these burdens come after adjusting for inflation and are in addition to the $450,000 per family of federal debt that will accrue over this period even without cap and trade.

The annual cost per American Family is $3,900.00 as estimated by the EPA.

America, in the midst of a severe recession, and subject to global competition,cannot afford this massive tax increase on working families. Vote to stop the Global Warming Tax known as Cap & Trade.