Has anyone else heard anything concerning this? Basically, President Obama's plan is to put limits on those pesky carbon emissions. Companies will have to buy carbon credits at an auction- and individuals and businesses will have to pay a tax for their 'emissions'.
Let me explain this- a quick economics lesson. When businesses are forced to pay thousands- or millions- of dollar per unit of 'carbon emissions', that will impair their ability to make money. They'll have to divert yet more of their profits to taxes. Hence, they will pass on the cost to the consumer- via higher prices- and workers- via layoffs.
What happened to the 'unemployment crisis' or 'easing the burden of the working man'?
Hundreds of people will end up without jobs. This will also hit my area hard, which relies on coal a lot, especially for our electricity. If those plants shut down- and they will- at least a few thousand people will be out of work. If we don't have electricity, a lot of the other businesses will shut down- places like Best Buy and the mall. That will throw thousands more out of work. When that's gone, more businesses will go out.
It will continue to escalate so, until our town begins to look like a ghost town.
But Obama and his cohorts- er, I mean, Congress- don't seem to realize this. All they see is the revenue they will garner. Either that, or the new world dollar they'll have when our economy comes crashing down, and they can blame it on 'capitalism'.
Now, I'm a bit curious to see how they're going to spin this. "We've reached our goal of reducing carbon emissions by 15%....but people are starving!"