Posted by
Cecil Citizen on Tuesday, June 30, 2009 4:35:19 PM
So who wins from the passage of HR 2454? Of course, the federal government is the biggest winner as its power base is increased, and it continues to exert its influence on private industry. GE and Goldman Sachs are also big winners along with other corporations who “play ball” with the federal government. (Please see http://www.washingtonexaminer.com/politics/Obamas-hidden-bailout-of-General-Electric_03_04-40686707.html) Note that GE owns 80% of NBC. Remember that the next time you turn on the tube and expect unbiased reporting! (http://www.cnbc.com/id/18037310/)
Low income families are not winners, because they will continue to be kept dependent on government assistance, but they will be provided relief (i.e. welfare) under this bill. According to the Library of Congress, “H.R. 2454 would create a refundable energy tax credit, aimed at offsetting the impact of higher energy prices on low-income families. The credit would be based on the average loss of purchasing power for the poorest fifth of people caused by higher prices for energy and other goods under the bill.”
Who then, are the biggest losers? Who is left to foot the bill? You and me, and the rest of the ever dwindling middle class of America. Oh, and of course, the American Dream, as more and more of our economic power is traded off to the federal government.