We are going the way of other industrialized nations with high social/welfare costs - a VAT and an income tax. The income tax will still fall on the wealthy and the VAT will fall on everybody.

Tax,

It is one of the many reasons I am so against carbon taxes, sin taxes, etc.

Given where our economy is now and where it might be headed - can you think of anything more disastrous than compounding our miseries with runaway energy costs via 'Cap and Trade'?

Of course, if a VAT is passed then Obama is a straight-up liar - he made the declaration that taxes would not be increased on those making less than $250,000, and a VAT is definitely a tax increase on the poor and middle class.

Jeff,

As much as people hate to think about it, Cap and Trade won't be a real issue as we are going to see a major expansion of nuclear energy in this country in the coming years. We will follow Germany and France's lead on energy, just watch.

Joel, you should have used a link to this article:

Cap and Trade won't be a real issue as we are going to see a major expansion of nuclear energy in this country in the coming years.

First off, VERY few of our politicians are getting the warm-fuzzies over nuclear energy. Obama danced around the issue like Clinton parsing the definition of "is". Secondly, even if you do prove correct regarding nuclear energy, how much of a gap do we have between the implementation of 'cap and trade' and the actual construction and on-line readiness of nuclear? Furthermore, cap and trade doesn't SOLELY apply to the big-energy suppliers. Lastly, it DOES drive up the cost of energy for all of us. You can introduce mitigating factors such as nuclear, but the fact remains, it does drive up costs - how much is anybodies' guess.

I wonder how much revenue could be generated with tariffs on manufactured goods???
Added benefit would be American manufacturing jobs would begin to come back.

So....balance of trade, budget deficits and unemployment solved.

What is the question again?????

Free Trade is what is killing our country.

We had tariffs almost our entire history.

We have been "sold" on the wrong headed idea that Free Trade is good and that protectionism is bad.

I hope we don't wait until our nationis completely drained of assets before we wake up to the truth.

Our major trading partners who benefit from our "free trade" policies all protect their own industries and markets.
They laugh at us as we let ourselves go broke.

Free Trade is what is killing our country.

We had tariffs almost our entire history.

We have been "sold" on the wrong headed idea that Free Trade is good and that protectionism is bad.

I hope we don't wait until our nationis completely drained of assets before we wake up to the truth.

Our major trading partners who benefit from our "free trade" policies all protect their own industries and markets.

They laugh at us as we let ourselves go broke.

#6 | Posted by danni at 2009-05-27 11:48

So true, Danni.

Bush's so-called "free trade" policies were a one-sided farce and a disaster for our economy. Our nation's once mighty manufacturing base has been dwindled down to a shell of its former self, turning us into a primarily service economy. Not to mention the millions of American jobs outsourced under the Bush free trade agenda.

TRUE free trade is not being practiced when China and other nations are all allowed to have their governments subsidize their private industries yet American businessmen get no help at all. That is not equal competition.

Free trade with no protective tariffs has almost destroyed our economy.

I remember when Bush spoke of "protectionism" -- he spit it out like it was some kind of swear word.

Protectionism worked before to help us build the mightiest economy in the world.

Time to bring back a dose of protectionism and tariffs. About time we helped American business again.

If you'll notice, it's the globalists in our country who always push for free trade -- the ones who consider themselves not to be American citizens but rather fancy themselves as "citizens of the world."

So Obama proposes a new tax and here its Bush's fault.

Answers I don't have but a certain knowledge I do. Bills must be paid. It takes money to pay bills, mine, your and ours (government). We need to do something to increase revenue, find me another way...

"So Obama proposes a new tax and here its Bush's fault."

Well, if Obama had inherited what Dubya inherited, he might have been able to afford tax cuts.

Instead, he inherited what Dubya left him: the five largest deficits known to man, and the biggest financial dump in our history. World of difference.

I love the assumption that Obama is able to snap his fingers and make anything law that he may desire.

Does this have a chance of making it out of Congress?

Obama, Obama, Obama...........

Jesus fucking Christ, it's like you think he is the only person in D.C.

Regardless of what you heard from Rush, the Dems aren't and never have been the Lock-Step party. It's too diverse of a group. Their tent is too big and that's a damn good thing.

And about getting re-elected, you haven't learned how smart a politician Obama is yet? Fuck man, open your fucking eyes and pay attention.

Now, come talk to me in 2015 when the man doesn't care about elections anymore. What he pulls off those last two years is going to make Republicans' heads explode. I can't fucking wait........