Obama jobs death toll watch: 150,000 more energy jobs in danger
Grim reaper photoshop credit: Manly Rash
Louisiana State University economist Joseph Mason has a new study on the jobs death toll damage that President Obama’s planned energy tax hikes will cause.
The Autumn of Wreckage is off to a fast start, eh?
Via the NYPost:
Just last week, President Obama explicitly targeted the industry for two massive tax hikes. First, he’d ban oil and gas companies from using the “Section 199″ tax credit, a measure for domestic manufacturers enacted in 2004 to boost US employment. (The Senate is set to vote this week on its version of the ban.) Second, he wants to end “dual capacity” protection for US energy firms.
Without this shield against double taxation on foreign revenues, American companies would be competing on an uneven global playing field. Again, Obama aims directly and specifically at the US oil and gas industry.
Yet, by the federal government’s own economic model, these tax hikes would lead to huge, immediate job losses. I ran the numbers through the Commerce Department’s RIMS II model; it shows, under the proposed changes to Section 199 and dual capacity, Americans would almost immediately lose more than 150,000 stable, private-sector jobs.
Because our energy firms operate as part of an integrated economy, as much as 38 percent of the job losses would come in professional fields, such as education, administration, health care, real estate and the arts. Another 21 percent would hit producers of necessities such as our food and textiles.
In other words, lawmakers would be slamming the very teachers, firemen and factory workers that they claim to want to help. And the fallout wouldn’t end there. Higher energy taxes would cost the US $341 billion in lost economic activity and $68 billion in wages over the next nine years.
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Think of limiting cases.
With limitless energy, anything is possible,
With no energy, you become a slave
Doesn’t matter, the union bosses will direct them to pull the levers that will get the DemonRATS (re)elected. If they fail to pull the correct levers, that’s OK, the dead can be counted on to make the right decisions.
Mills Brothers: “You always hurt, the one you love, the one you shouldn’t hurt at all.”
Come on now, these statists don’t care about the economy, the environmnet, or anything else except for their own power.
Hoard lightbulbs
How many ways do I detest this bho, team, and d’s? Let me count the ways! Yet, they are seeing to it mexico gets a 1B oil deal to drill in the Gulf while American’s can’t.
L
environmnet=environment
My fingers are clumsy todsay.
todsay=today
*grumble*
*stupid fingers*
Does anyone know what is happening with the moratorium? Wasn’t that shot down three times in court? If that is so, then why is the moratorium still going on? Is the WH ignoring a court order? Why isn’t that a criminal offense? Why isn’t anyone talking about this??? And why aren’t we hearing anything about the safety inspections that are supposed to be going on as we speak? Shouldn’t they be done by now? Where is that troll who used to ask all the questions? Do I have to do everything???
“Ah. The ‘War on Prosperity’ is coming along nicely.”
-BHO’s dark thought of the day
happyscrapper#7,
I don’t have the facts, but it seems they are just ignoring the courts action and waiting till Nov. when it is ‘suppose’ to be lifted. Maybe someone can give us the true facts.
L
plymouthacclaim: I konw what yuo mean, I jsut washde my hadns and catn do a tihing whit them!
Dead is so 20th century. We call them necro-proxy voters now.
The loss of private sector jobs is something Obama, Axelrod and Emanuel don’t lose sleep over. They want to shift as many people as possible from the private sector workforce, to the public sector workforce. And unionize the rest.
They’re betting that Obama can do a few Hope and Change speeches and blame Bush for anything people don’t like, in order to get them through the rough spots on the path to complete socialism here in the US.
Obama can propose anything he wants, but the politicians can smell what he’s shoveling and are running away.
This one is DOA.
The American people need to initiate a class-action lawsuit against the Obama Administration and start it off with pursueing a cease-and-desist order on these malfeasent diktats from the Oval Office and Cabinet members.
This is the quintessential renegade government. I’m sure the Constitution’s Founders never envisioned having to restrain this kind of eggregious behavior. Crazy.
Of course, there would be yet another “stimulus” bill to help finance these teachers and firefighters who lost their jobs because of the failed Bush economic policies.
If anyone was listening, this is exactly what he said he would do.
I’ve said it before, anyone in the energy industry (apart from the government approved and subsidized “green energy industry”) who voted for Obama is a fool. You have voted for your own unemployment.
And millions will believe the nonsense this will help something, accomplish something good. Comrade Maxine Waters did say we would be nationalizing the oil companies didn’t she?
Oh well this way we can all take the government bus to the government job, returning to our government built high rise apartments and take government approved group vacations. Tis a Brave New World isn’t it?
===
An Armed Society is a polite society.
Frankly speaking, these …….. I cannot say what I want to say there but, they are poking and prodding and pinching and poking us all till there will be a breaking point. November is a short time away but the damage these ….. will do in the interim will be a nightmare.
Actually, I think they did envision the possibility. I think that’s one of the reasons this was included in the bill of rights when it was finally adopted.
A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.
So, do you know if anyone is inspecting the rigs? They issued the moratorium for safety reasons, supposedly. I heard it is incredibly UNsafe to have these rigs sitting idle.
What a marvelous idea!! Can we do it??? I would sign up for that. A class-action suit. I love it! Even if you can’t legally sue the Federal Government, the process of getting that suit together would be great publicity against what they are doing to us. Maybe would wake up a few more sleepers out there who thing everything is just “hunky-dorrie”! I imagine there are plenty of conservative lawyers out there who would be willing to take up the cause. Or maybe not!
Sad — The silence of the media is telling … They are not to be relied on for anything, anymore.
Almost 2 years and the coal industry isn’t bankrupt yet?
Obummer’s slacking.
Speaking of taxes, the MSM and the Obama administration has been caught in another lie by their own admission. Remeber hoe during the last presedential election we were told about those evil Bush tax cuts that were only for the rich? Well now Obama says he wants to extend only the tax cuts for the middle class that were part of the Bush tax cuts.
Here is the CNN coverage:
Evern MSNBC is talking about it:
So when the Dems woo their constituency for votes is it called necromancy?
This Marxist traitor Odopo, wasn’t fooling around when he told a group of wealthy, left wing elitists…”you ain’t seen nothing yet”. The only true words to fall out of his mouth.
As day by day goes by I despise the idiot left wingers that elected this feckless puppet to office…the schools and press more than anyone else.
Yep… he does this to American workers… while the export bank guarentees 1 Billion loan for MEXICAN oil drilling…
And the MSM? crickets…
No, more like the Grinning Reaper!
He’s reaping the rewards of being President…unlimited travel, unlimited entertainment, unlimited culinary experiences…all at taxpayer expense.
There is nothing grim about this man. He is gleefully driving the ship of state a ground, otherwise, aside from base incompetence, do you explain his insistence on doing things “his way”, rather than the logical way?
Here’s to hoping he falls on his own scythe…and soon! This is one time that B. “Death” Obama can be cheated.
***
Comrade Obama (PBUH) and his ilk get a solid F- in Economics 101. Cause more unemployment–raise costs of energy–pass the costs along to the consumers. Cause more transfer of wealth to our foreign enemies. Cause energy shortages in the U.S.A. so non-competitive “green” energy can be foisted off on us.
***
Wakeup call, Comrade–companies don’t pay taxes. They raise the cost of their products and pass the taxes to the consumer.
***
The Messiah does get a solid B+ in Marxism 599–but he will have to work harder to catch up with Maxine Water’s Summa Cum Laude with max honors A+++ grade in this class on how to put the government in economic charge of the new United Socialist States of Amerikka.
***
Ask yourself why Mexico has a much weaker economy than the U.S.A. Both countries have about the same natural resources, and both countries have smart decent people living there. The main difference is a very corrupt socialist government in Mexico. And The One and his congressional ilk are bringing it on in our U.S.A. now.
***
REMEMBER IN NOVEMBER–vote them into Funemployment. Choose wisely.
***
John Bibb
***
I hear you. But I wonder, personally, as a Christian, would I be willing and able to take up arms against other Americans because my liberty and property are being taken from me? These are hard questions everyone should ask.
Beyond defending your family from immediate threat of violence, when do you decide to join with others of like mind and become a “revolutionary” prepared to kill other human beings? The Revolutionary War patriots did so with far far less provocation than we are faced with even now.
Scary stuff.
What confuses me is that I have heard nothing of the creditors involved in the GM/Chrysler bailouts. They lost all their money with no compensation at all (I think). An illegal act on the part of the government. Why no lawsuits there? It seems to be a no-brainer. Why is there not a constant hue and cry from Constitutional scholars on this continual assault on the standards of civil law and the Constitution? Where are the leaders, do we have any?
Come 2011, the Republican majority should oversee the investigation of worst of these likely crimes and prosecute the biggest offenders…. Frank, Dodd, Raines, Geithner, Obama even… all of them. Then the People will know that America operates under the rule of law and not dictatorial ideologues.
More like necrophilia.
ECS
With a high tide of anti-Demoncrap sentiment on the way, BHO is now trying to screw things up so badly, NO ONE will be able to fix them.
There are not any words, in any language, to describe the utter and total disaster this Sock Puppet regime is and will continue to be.
All these jobs this bho and team are cratering for our nation is not stopping this bho and mo from having two gala, black tie events this week. One is the hispanic caucus institute and the other is the congressional black caucus foundation. This per Drudge today. I guess the TP caucus didn’t rate this year for an event at the wh!
L
Leftists are quite comfortable with the National Socialist concept of “Lives not worth living.” Check of proof: their mania over a woman’s “right to choose” right up to the moment of birth, and their recent move to have the FDA de-certify a “last chance” breast cancer treatment drug because it’s “too expensive.” Death panels, anyone?
So if you’re prepared to consign others to death because they’re inconvenient, then “Jobs not worth having” is an easy logical hop from there.
Well sure – these evil companies provide heat for grannie in the winter so she won’t freeze, allow you to cook food for your kids so they don’t have to eat raw chicken – they must be taxed heavily so that all of this becomes more expensive. The economic justififcation is that, um, well, uh, Karl would have approved!
The Second Amendment co-author and Founding Father, George Mason, during Virginia’s convention to ratify the Constitution, in 1788, said the following;
I have a question for the liberals regarding the background of the Second Amendment, and the founders who authored it: What did they know, and when did they know it?
Somethings, like thirst for power, never change, and the Founding Fathers knew it!