'Carbon Permits': A Nice Word for Obama's New Cap-and-Trade Carbon Taxes

Obama’s new budget includes large carbon taxes, known as carbon permits (Don’t you love how they think we are stupid?), which the administration is counting on an additional $300 billion. Just what companies in the struggling economy need, more money leaving their bank accounts in the form of taxes. Of course, these companies aren’t going to pay for their carbon permits. They are going to pass the costs on to you when you buy their products and services.

The permits are required for any company that releases green house gasses linked to global warming. Does anyone else see the danger with this? Don’t all companies release CO2 just by hiring people who breathe? Obama includes carbon dioxide, an essential gas for life on earth.

The plan lacks details currently, but the Obama administration predicts the permits will be required by 2012. It will follow the cap-and-trade system. The government will place a limit—a cap—and when that cap is reached, the taxman cometh. No doubt, the corporations will be forced into purchasing the equipment needed to monitor their emissions, and there will be some punk from the government watching them like a hawk, getting in the way of their production, and furthering their financial hardships.