NEW YORK (CNNMoney.com) – A new proposal to curb global warming could jump start stalled Senate greenhouse gas discussions and put an average of $1,100 a year back into the pockets of American consumers.
Known as cap-and-dividend, the recently introduced bill would require oil, coal, and natural gas companies to buy permits each month to sell their fuel. Three quarters of the proceeds would be returned to the public each month in the form of a dividend check, with the remaining money going towards renewable energy, conservation or assistance programs.
Addendum. By driving up the cost of fossil fuel and making renewables more competitive, supporters say the plan will result in the same emission reductions as the current cap-and-trade bills before Congress. But they say it will be much more simple to operate.
Sounds like a 25% tax to me!
"Three quarters of the proceeds would be returned to the public each month in the form of a dividend check, with the remaining money going towards renewable energy, conservation or assistance programs. "
The truth is in the details. I don’t know the details and they are likely hidden in some million word document written by those who will profit.
Guess you haven’t heard. Any company that provides service or goods to the public and has an increase in operating cost, hands that increase directly over to the consumer. What a great deal for Exxon…they get to sell less fuel for the same profit. It ain’t comming out of anyone’s pocket but you and me.
Top 1% pays 40% of the taxes but they have 90% of the wealth. That difference just got bigger. Ouch !!!
PM me and I’ll give you my address to send the check.
Raising taxes so stupid people don’t realize their taxes just got raised…What a concept! On election day, people think you are their friend! Look! I got a check!
I don’t think this board allows private messaging
Just a tax, the money’s coming out of our pockets. Our electricity, gas, and gasoline bills will go up to pay for it. The $1100 is the bribe to conceal what’s really going on.
let me see…People can buy three U.S. quarters for only 1 U.S. dollar? Hmmm. Well, with all the morons believing in global warming, the 75% rebate sounds stupid enough to be a success. Only, I don’t want to buy. I want to be a vendor.