Whoever could have foreseen? Nevermind. We’re sure that ThinkRegress.com will soon let us all know that the coming massive California price hikes on, well, everything are actually huge tax cuts or something.
The California Manufacturers and Technology Association released a new report last week that suggests costs associated with AB 32 may be a lot higher than previously estimated. AB 32, otherwise known as the California Global Warming Solutions Act of 2006, was signed into law by Governor Arnold Schwarzenegger-
Which, coincidentally, could we please agree that this hammers the last nail in the coffin of Schwarzenegger’s rep as somebody even remotely resembling anything other than a raving RINO motherfucker?
propelling California to the forefront in the fight against global warming.
And to the back of the class when it comes to economic survival.
Successful passage of the law effectively turned the state into one of the most stringent regulators of green house gas emissions in the nation and globally. Some would argue that the move all but eliminated California’s competitive edge in today’s market.
We tried to get a hold of “Some” for a comment, but it turned out that it’s a pen name for “everybody with an IQ high enough to successfully boil water.”
The California Air Resources Board, which has been charged with developing and implementing the state programs needed to reduce greenhouse gas emissions down to 1990 levels, hasn’t released an updated economic impact study since 2010.
Can’t possibly imagine why they wouldn’t be eager to release such a thing. Anybody?
Andrew Chang & Company, which conducted the latest fiscal and economic impact study on behalf of CMTA, found that the average California family will end up paying an additional $2,500 annually by 2020 when AB 32 is fully implemented. In addition, the state is expected to lose an additional 262,000 jobs, 5.6 percent of the gross state product, and a whopping $7.4 billion through decreased annual state and local tax revenues as a result.
But there’s a silver lining:
Figures from the study were based on more conservative estimates, suggesting that expected costs could actually range much higher.
Wait. That’s not a silver lining at all, is it? Our bad.
“These policies will create a large but hidden tax on families and will add new burdens to a fragile state economy,” said Jack Stewart, President of the California Manufacturers and Technology Association (CMTA).
NO IT ISN’T! It’s a Tax CUT! Because… RACIST!
“This comprehensive report tells us that small business will get hit from all sides. Consumers will have less money to buy our products, employers will be forced to purchase more affordable products outside of California, and our own energy costs will make it nearly impossible to stay in business.”
No worries. We’ve still got plenty of room in Texas for small businesses who would like to actually do business. But we have to warn ya: It’s getting pretty crowded already in some places, so you may not want to hold off the decision for too long.
We’re still baffled, though. We mean, seriously. How could anybody have possibly known that making energy scarce would raise prices on it (“supply and demand” is just a lie thought up by Evil Capitalist Running Dog Lackey Kulaks Trying to Destroy Comrade Obama and The People’s Glorious Utopian Republic of Next Tuesday™!) and that raising prices on energy might raise prices on everything that requires energy in order to produce it (also known as “everything”)?
Clearly this is yet another Evil Plot by the Koch Brothers who secretly control the entire world from their secret island retreat in the Bermuda Triangle!
Forward for the Revolution, Comrades!