Flashy, your nasty bitterness against me notwithstanding, you choose to ignore the letter from Richard Elmendorf, director of the CBO of july 9 of this year , which clearly estimates the net cost of cap and trade.
you know cruz, i was going to peg you as just another ignoramus, but what i finally saw you say in another thread clearly outlines the full picture for me. You worked for the Obama campaign...i should have known...not only are you an ignoramus, but a star-struck, love crazed and unobjective one at that
enough said on that...
if you would like me to take you seriously about CBO numbers, and your accusations of me choosing to "ignore things" and my "misguided and foolish assertions" you might consider challenging me with sourced facts, which you still have not done once.
There is no such person directing the CBO named Richard Elmendorf, genius. You choose to ignore that the Director of the CBO, is in fact named Douglas W. Elmendorf.
you are an idiot.
The letter you speak of, from *DOUGLAS* Elmendorf, CBO Director, of July 9th, I assume you are referring to, was adressed to Senator Inhofe, the ranking Republican on the Senate Committee for Environment and Public Works.
The net cost to the lowest fifth of the population? a net GAIN of $40 per year. the next highest fifth? a net LOSS of $340 per year. Overall, all quintiles included in the average? $175 Loss per year. I will take those averages in place of your misguided and foolish assertion that we dont institute cap and trade.
Hmmmmmm, i see...
I assume this is the letter you were referring to, since you neither bothered to provide a link and also managed to get the name wrong of the CBO Director who sent it. We'll just call that another of your "oversights" in conveniently managing to not provide links or sources or correct facts.
http://www.cbo.gov/ftpdocs/104xx/doc10432/07-09-RegionalEffects_Cap-Trade.pdf
I assume that this is the paragraph you were referring to, since you could not be bothered to print it or link it yourself:
To facilitate a comparison with households current income, CBO analyzed the capand-trade program under H.R. 2454 as it would be implemented in 2020 but scaled those costs to the size of the current economy.2 Using that approach, CBO estimated that the gross annual cost per household would be $890 and the net annual cost(accounting for both the gross cost and the distribution of allowance value) would be $175.3 The net annual cost per household would range from a $40 gain in income for households in the lowest one-fifth of the income distribution to a $340 loss for households in the second highest quintile.4 As CBO stated in its analysis, those figures reflect costs associated with producing and consuming goods in a manner that results in lower GHG emissions, but they do not include the transition costs of moving to a less carbon-intensive economy, such as those that could occur because of job losses or business closings.
It is very cute that in your analysis, you managed to leave out the costs to the 2nd lowest and middle quintiles as well, which are all net losses. 2nd lowest quintile is a loss of $40. and it goes up to the $340 loss in the "second highest quintile"
these numbers are all presuming that *ALL* people receive the relief the government has promised to make up for the average gross costs, because you see,
"CBO finds that people in the bottom quintile would incur an average gross cost of $425 per household but would incur no net loss, on average, because they would receive back an average of $465 per household in relief."
so, it is interesting that the poorest people in our nation are going to incur an average cost hike of
*$425* and i guess we'll just have to count on the government coming through with all the money to offest *EVERYONE'S" higher gross cost, from all the money the government will allegedly have. I mean, forget possible unemployment, job losses or any of that...I am sure the government plans for rebates and paybacks will work out *EXACTLY* like they are supposed to...since they always do.
The provision in the legislation that uses 15 percent of the allowance value for low-income assistance is critical to achieving this outcome.
There would be a net cost in all other income quintiles, but it would be small. It ranges from an average of $40 per household in the second (i.e., the next-to-the-bottom) quintile to an average of $340 in the fourth (the next-to-the-top) quintile.
And before you begin your ignorant whining further, why don't you check out the ranges of CBO quintiles, since you do not seem to know much about them.
these are the other income quintiles cost:
Lowest +$40
2nd Lowest -$40
middle -$235
2nd Highest -$340
Highest -$245
and before you talk about how only the rich are getting hit, and those higher quintiles should just suck it up, maybe you should look at the income ranges per quintile that you so flippantly were saying would not suffer too badly
these are CBO income quintiles:
Minimum household income:
Lowest Quintile $0
Second Quintile $17,900
Middle Quintile $30,500
Fourth Quintile $45,200
Highest Quintile $67,400
So, in fact, unlike your pathetic attempts to say people would not be suffering under the plan, the quintiles bear out just who is getting hit
The *ONLY* people who do not take the hit, are the most abjectly poor in the nation, those earning between 0$ to $17,900 a year...they get that whopping $40 gross *IF* everything goes right. Of course, since they will be paying more for food, because of increased production and shipping costs, it is doubtful that the whopping 77 cents a week they will be "getting" will be enough.
as for the other quintiles, the "Second lowest" households earning $17,900-$30,500, see a net loss of $40 a year...*IF* everything goes right.
Now, are those folks rich? Upper middle class? Middle Class? NO way...those are the poor and the working poor unless of course you think that people earning 17,900-30,500 are somehow rich or upper middle class or even middle class.
The "Middle" Quintile, household earning $30,500-$45,200, are not rich either are they? That is working class, and maybe lower middle class. According to the numbers that you agreed on, they lose *NET* $235 dollars year! That is *IF* everything goes right
The 4th quintile, households earning $45,200-$67,500, are not rich...that is the heart of the lower middle class...and they take a net loss of $340 a year! *IF* everything goes right.
the Highest Quintile, those earning $67,500 and up (+ the top 1% which earn over $307,500) take a net loss of $245 a year. *IF* everything goes right.
So sorry, anything under $250,000 a year, according to Obama, are people that should not have their taxes raised...but, according to the numbers that you agreed on, as indicated in the July 9th CBO letter that you stated and sourced, it is in fact, completely true, in their words and yours, that, in fact, everyone under 250,000 a year, will be eating a tax hike, except for the very poorest americans, earning under $17,900 a year.
How is that for a fact? They are your approved CBO numbers, as stated by The Director in the July 9th letter you mentioned.
So, admit that you were wrong since the very numbers you listed killed your points and slit your own arguments' throat.
so do not tell me that the middle class, working folks and poor folks don't get hit, unless you plan on being proven a complete and total liar.
of course, you did not mention the increased costs in *CONSUMER GOODS* that are bought that are affiliated with energy costs...you know, like *FOOD* and other non direct energy related costs.
but then again, that would require you actually doing a bit more digging and less whining.
go on, let's hear you insult me again, since you cannot debate the stark facts of the issue either on Cap and Trade or Tobacco, and that is that the poor, working and middle classes are going to have to eat it hard. This is an absolute regressive tax, where the lower class eats it, while the upper class has to do far less...
i never thought i'd see the day when an Obamanut like you would *ACTUALLY DEFEND* the middle, lower, working and poor classes getting utterly hosed by a regressive tax that hurts them far worse than the upper classes.
Utterly pathetic. Friend of the working folk and middle class indeed.
As to non-cigarette tobacco, the studies you site DO NOT take into account the lost days to illness caused by smokers, their increased health care costs to themselves and/or their employers. YES, lets raise taxes of all tobacco products so they are equivalent.
and you still have not pointed out how tobacco taxes are not regressive. another failure on your part.
I will say it again as plainly as possible.
Rich man + Poor man both pay the same tax, when they each buy:
1 pack of cigs
1 pack of cigars
1 tin of snuf
1 pack of chew
1 packet of loose tobacco.
same tax, disparate incomes...
ipso facto, regressive tax.
And i will longer choose to respond to someone who continues to insult me at every turn. You arent worth my time or my attention. and clearly, your personal qualities are anything BUT flashy.
of course it is not worth your attention, because you still failed completely to point to any single fact that refutes the notion that both cigarette tax and cap and trade are regressive, and hurt the poor and working and middle class far worse than the rich.
as a campaign worker, your hypocrisy is understandable...after all, if my hero who i worked for and believed in, had passed two bills that dramatically increase future costs for the 95% of the people he claimed he would not tax, i would be reeling and upset too.