It's Official, Cap and Trade Screws Middle Class

[Ericsson1228d]

Please take the time to read the CBO's Analysis of Cap-and-Trade.

It's at http://www.cbo.gov/ftpdocs/105xx/doc10573/09-17-Greenhouse-Gas.pdf

It's a compelling read. On page 26, you will note a table of "Average Gain or Loss in Household Purchasing Power by Cap-and-Trade. The table is grouped by income quintiles. Here's the data:
Net Gain or loss as a % of Income
Lowest Quintile +0.7
Second Quintile -0.4
Middle Quintile -0.6
Fourth Quintile -0.5
Highest Quintile -0.1

So, the poorest gain (through tax incentives/rebates), the Richest loose just a touch (0.1%) and, well lookie here: The "Middle Class" of 2nd to 4th Quintiles lose 0.4 to 0.6%.

So, according to the Non-Partisan CBO, the new Cap and Trade does hurt the middle class the most.

So much for "working for the Middle class." Looks like he is working for the very poor and the Rich. Fuck the Middle class. Politics as usual.

The CBO's report on the Health Care Bill should be out this week. I don't need to read all 1K pages to see who is getting screwed, just read the CBO report when it comes out. You don't need Fox News, MSNBC, etc. Go to the source, and read it in black and white, no spin, nothing to hide, nothing to gain. A non-partisan source.

 

[vince]

Right. No spin here. Except that you didn't mention that those are projected figures for 2020.

Heaven forbid that there be costs associated with trying to avert a planetary climatic diaster! Or that the citizens of nation(s) most responsible for the release of carbon into the environment be expected to pay for it. Can't we get Africa to pay??

Spin isn't always outright lying. It can consist of lies by omission.

Effects of the Policy’s Provisions in 2020
"CBO estimates that households in the lowest income quintile in 2020 would see an
average gain in purchasing power of 0.7 percent of after-tax income, or about $125
measured at 2010 income levels. Households in the highest income quintile would see
a loss in purchasing power of 0.1 percent of after-tax income, or about $165 at 2010
income levels (see Figure 1 and Table 2), and households in the middle quintile would
experience a loss in purchasing power equivalent 0.6 percent of after-tax income, or
about $310 at 2010 income levels."

OMFG!! It's gonna cost the middle class 310 bucks in 2020.!! F...ing hell. I could buy 3 cartons of Marlboro Lights with that much money! Or fill the tank of my Silverado!

 

[B_VinylBoy]

Math... still the enemy of the neocons.

 

[Flashy]

we already debated Cap & Trade a while back on the CBO numbers

http://www.lpsg.org/140306-obama-gays-healthcare-slow-deliberate.html#post2212623

 

[mikeyh9in]

What is really funny is that from a political party point of view, Cap & Trade should totally be a Republican position... they use to be called "Conservatives" -- want everything to be decided by the "free" market... I think now they are called "anything anti-Obama".