The House Passes The LARGEST Tax Ever

America is all adrip with Michael Jackson. Michael this, Michael that.

In the meantime, whilst bloated, idiotic, shallow, unattentive Americans were diverted: a perfect time for Demorats to ACT:

Fourteen hours after introduction, the House just passed the LARGEST tax bill in the HISTORY of the United States.

This is the American Clean Energy And Security Act of 2009, HR 2454 (see my post here), known as "cap and trade" -- where it passed in the House on a 219 to 212 vote, with eight Republicans voting yes and 44 Democrats voting no.

At 3am Friday morning, another 300 pages were sneaked into the bill, literally in the dark of night.

I found the actual 932-page HR 2454 bill on the internet. It is here if you can stomach it.

It is common knowledge that no one in the House who voted for this bill has actually taken the time to read this bill.

The bill's passage "amounts to the largest tax increase in American history under the guise of climate change," declared Rep. Mike Pence, R-Ind.

Rep. James Sensenbrenner (R-Wisc.) called it a “massive transfer of wealth” from the United States to foreign countries.

From Politco.com:

Before (House Minority Leader John Boehner, R-Ohio) took the floor, Republicans asked the House to observe a moment of silence for Americans who would lose their jobs as a result of the bill. Democrats objected. Pelosi argued later that the bill would mean “jobs, jobs, jobs, jobs.”

Absolutely, stultifyingly idiotic and nonsensical. Check out this video.

Utility rates will absolutely skyrocket at a time when Americans can least afford it. This is an entire reordering of our complete economy.

This bill would mean an unprecedented tax increase on American business, predominantly forcing -- those who could -- many American businesses to transfer themselves to other more friendly nations. Hence the comment by Sensenbrenner.

Those businesses trapped by circumstance would do nothing but pass the costs down, logically so, to the American consumer. The taxpayer. The persons who created the cash in the first place.

Additionally, The Heritage Foundation states the CBO (Congressional Budget Office) grossly underestimated the true costs of "cap and trade":

Last week, the Congressional Budget Office (CBO) released their analysis of the Waxman-Markey climate change bill that had proponents of the bill claiming Americans could save the planet for just $175 per household. That was the figure CBO estimated cap and trade would cost households in 2020 alone.[1]

Both the CBO's analysis and the subsequent legislation are troubled: The analysis grossly underestimates economic costs while the legislation will have virtually no impact on climate.

Overall, there are a number of basic problems with CBO's analysis:
-Their allowance cost numbers do not add up;
-They ignore economic costs such as the decrease in gross domestic product (GDP) as a result of the bill; and
-The analysis is an accounting analysis, not an economic analysis.

Government does not make money. Private businesses makes money. Government confiscates cash via taxes. That's how it works.

Hugh Hewitt writes:

The Pelosi Democrats will try and push through the massive tax hike that is disguised as "cap and trade" today, and the 1200 plus page bill is constantly changing and of course has not been read much less understood by the Democrats voting for it. If this bill or anything remotely like it becomes law, the American economy will be pushed into a deep recession that will make the past six months look like the good old days

Moderates and conservatives are wrong to expect that the Senate will simply kill the bill, though all efforts will have to be switched immediately to the upper chamber if the Pelosi/Waxman/Markey radicals bribe enough Dems with special provisions to pass it today. The so-called Blue Dog Democrats are proving to be worthless as a check on the hard left of their party, and only a huge course correction in November 2010 will keep the country safe from the radicals currently running the Democratic caucus in the House. No one who votes for this bill can claim to be a "moderate Democrat."

The Heritage Foundation makes this analysis of the bill:

An analysis of the Waxman-Markey bill (as reported out of the House Committee on Energy and Commerce) by The Heritage Foundation found that unemployment will increase by nearly 2 million in 2012, the first year of the program, and reach nearly 2.5 million in 2035, the last year of the analysis. Total GDP loss by 2035 would be $9.4 trillion. The national debt would balloon as the economy slowed, saddling a family of four with $114,915 of additional national debt. Families would also suffer, as the bill would slap the equivalent of a $4,609 tax on a family of four by 2035.[1]

This is more than insane. And this is just one aspect of the various bill RAMDOWNS that Obama insists American taxpayers make.

Where will the money come from?

This government operates with the consent of the American Taxpayer.

How long will this consent be willingly proffered -- considering that the American Taxpayer is ignorant, forgetful and naive?

I submit that already some persons are questioning the drinking of their own cups of Kool-Aid.

It's up to the SENATE to stop this crushing bill. But will they?

BZ