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![]() SHOCK: House Dems move a new $8 BILLION tax hike out of committeeBy Nick, Section News
House Democrats may be waiting until after the November general elections to vote to raise the gas tax but if yesterday's committee action is any indication they aren't going to wait nearly that long before reaching back into your wallet and raising your taxes again.
The House Energy and Technology yesterday advanced a series of bills Democrats say will mandate that utilities and power producers use a full ten percent renewable energy. And if that's what the package really did that'd be a really nice objective. Everyone likes renewable energy. That's one of those new 2008 political buzz words. Like gravitas and unconscionable. Everybody wants to say "renewable energy." Sounds smart. Sounds caring. Sounds eco-friendly. It's too bad the Democrat legislation can't gurauntee this ten percent threshold will ever be reached. All it does is set a mandate and impose an $8 billion tax on Michigan residents over the next twenty years. Yeah, you read that right. The House Democrats are attempting to pass an $8 BILLION tax hike. Oh, but that doesn't sound all that politically feasible so they're splitting it up over two decades and trying to use smaller numbers. But no matter how you splice the numbers, regular every day working people will pay an extra $36 a year for twenty years. Businesses will pay an extra $190 a year for twenty years. Industrial outfits will pay an extra $2,250 a year for twenty years. And in 2028, if the legislature doesn't simply vote to keep it going in perpetuity, they'll have swiped $8 billion from the Michigan economy. Will the utilities have achieved their 10% threshold? There's no knowing. In fact, the legislation actually provides them an out! A utility company would not be required to meet the 10% marker if they could determine that they paid more trying to live up to the State's "standard" than they took in via the tax hike. Shoot, a little creative accounting and every utility in the State could show a 9%, 7%... 3% renewable standard and get off scott free with all that extra taxpayer cash in their coffers. Not a bad deal if you can get it. And this is a good idea in Andy Dillon's world. Impose another massive tax on struggling Michigan moms and dads without a single reasonable assurance that it'll even have the impact they hope it'll have. Government gets to meddle and working folks get poorer. The Michigan House Democrats at work. Five will get you ten that we hear all about this during the Governor's State of the State address a few days from now. Which will be interesting since she claimed only weeks ago that she wouldn't be raising our taxes again between now and 2010. My math is a little fuzzy but I think $8 billion in new taxes represents somewhere around eight billion individual indications that the Dems are trying to raise taxes again. So much for pledges.
SHOCK: House Dems move a new $8 BILLION tax hike out of committee | 4 comments (4 topical, 0 hidden)
SHOCK: House Dems move a new $8 BILLION tax hike out of committee | 4 comments (4 topical, 0 hidden)
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