It is no secret that President Obama has been using Western Europe as his guide to ‘remake’ America. The gang of three (Obama, Pelosi and Reid) have been on a sixteen month social-programs spending orgy, which is part of President Obama’s plan to implement failed European-style social programs to America. Of course, eventually when you double, triple or quadruple deficits, someone eventually has to pay for it, which is why Obama went from promising no person making less than $200,000 would have a tax increase, to this month administration spokespeople saying Obama would ‘prefer’ not to raise taxes on those making less than $200,000.
Now comes round two. The Climate Change bill The Cap and Trade bill The American Power act is an attempt by Obama and the Democrats in Congress to emulate what they see as a model green economy, Spain. Prior to the election, President Obama admitted that his view of a green economy would include massive cap and trade taxes applied to energy, which would make electricity (and other energy) sky rocket. In his view, this is a good thing, as the increased cost to the American public will create the pressure needed to spur on the development renewable energy.
The fallacy with Obama’s approach is that every place that renewable and green energy production has been forced, energy costs have skyrocketed (one of the main factors in Los Angeles being on the verge of bankruptcy) and have caused massive economic burdens.
Pajamas Media has received a leaked report that documents the massive failure of Spain’s green economy.
But today’s leaked document reveals that even the socialist Spanish government now acknowledges the ruinous effects of green economic policy.
Unsurprisingly for a governmental take on a flagship program, the report takes pains to minimize the extent of the economic harm. Yet despite the soft-pedaling, the document reveals exactly why electricity rates “necessarily skyrocketed” in Spain, as did the public debt needed to underwrite the disaster. This internal assessment preceded the Zapatero administration’s recent acknowledgement that the “green economy” stunt must be abandoned, lest the experiment risk Spain becoming Greece.
The government report does not expressly confirm the highest-profile finding of the non-governmental report: that Spain’s “green economy” program cost the country 2.2 jobs for every job “created” by the state. However, the figures published in the government document indicate they arrived at a job-loss number even worse than the 2.2 figure from the independent study.
The document itself, which is actually a slide presentation, doesn’t go into a lot of detail (presumably, an oral presentation accompanied it), but it does show large increases in green energy and renewable energy costs, which resulted in large increases in energy costs being passed on to the end consumers (industry and individuals). This also appears consistent with California’s complete failure when it legislated renewable energy be used in the state and completely underestimate the cost burden that would be put on the state, and cities such as Los Angeles.
Despite these dismal failures in California and Spain, President Obama continues to promote his cap and trade agenda, which will put a massive financial burden on an already reeling American economy with the imposition of large energy tax increases to industry and consumers.
Combine the massive cap and trade taxes (estimated to be between $1,000 – $3,500+ per family) with the expiration of the Bush tax cuts, the expected increase in the death tax next year (which doesn’t just hit the rich, but also family businesses like farms that are passed on to children), all the Obamacare fees and taxes that will be passed on to consumers, and the looming VAT tax.
That’s a massive new tax burden on American citizens. Not just the rich, but ALL Americans, or at least all Americans that are working and paying taxes.
If we thought the economy was in bad shape the last 18 months, just wait until all those new taxes start piling up.