Fritz Pfister

While people were mourning the passing of Farah Fawcett, and Michael Jackson this week a battle raged in congress over the cap and trade bill that could become the largest tax increase on the American people in history. The bill narrowly passed in spite of an overwhelming Democrat majority.

Why wasn’t this bill a slam dunk if it is such good legislation? Why the rush to pass this bill, and why was a 300 page amendment added to the bill at 3am? Why do our representatives rush to pass bills they haven’t even had the time to read? Because if the American people had an opportunity to know what was in this bill it would die an instant death.

I have shared with my audience on Let’s Talk Real Estate that this year presents a window of opportunity to buy or sell a home. The profligate spending of the Obama administration and congress quadrupling the debt will enslave our children and grandchildren for decades, has a high probability to create hyper inflation that could result in interest rates moving back into double digits as in the 1980’s, and will certainly lead to massive tax increases. The loss of disposable income, higher taxes, and the high cost to borrow could place home ownership out of reach for all but the wealthy.

Now add the cap and trade bill which will increase the cost of energy by an estimated $3000 per family per year, further eroding everyone’s disposable income, and eliminate an estimated two and one half million jobs. I suspect that if the county assessor called every home owner and said they’re going to raise property taxes $3,000 a year there would be a tax payer revolt. And there should be, against this cap and trade legislation. Every congressman that voted for this bill must be defeated for re-election for they have proven they care more about their control over you than about protecting your liberty.

Why was there a 300 page amendment added in the middle of the night that no one had enough time to read? Because there weren’t enough votes to pass this liberty stealing, jobs killing bill. The amendment is full of pork paid for with your tax dollars to buy enough votes to pass cap and trade. What happened to the promised transparency? There is no honor among thieves.

There is hope that this bill will die in the Senate, and you should do everything you can to see that it does. Why? Your electricity bills, the price of gasoline, the price of food, the price of every product manufactured in this country will go up. It will be a death blow to the coal industry, the cheapest form of electrical production.

Don’t fall for the bologna that jobs will be created through green industries, for every green job created 2.5 jobs will be eliminated. Just look no further than Spain who ate their climate change bologna sandwich and now have 18.1% unemployment.

Through the month of May building permits in the city of Springfield for single family homes stood at 25, the fewest for this time of year on record. Although it was reported new home starts in May were up 17% from April across the nation, the slightly more than 500,000 were the fewest on record for May in 62 years of record keeping. Hidden in the bowels of the cap and trade legislation is a requirement that mandates all states to adopt the green building standards of California. This will deal a body blow to a construction industry already on life support.

What ever happened to state rights? Why should our local builders be forced to follow California standards? This legislation robs every builder in this nation of their liberty to build as they choose, will drive up the cost to build, eliminating millions of families from the opportunity to own a new home.

No wonder the Obama administration and congressional leaders cry crisis, the world will end without this legislation, all lies to rush the legislation before the public learns the truth. Just as with the Stimulus Bill, when Obama said if the bill wasn’t rushed through immediately, he wouldn’t be able to keep unemployment from exceeding 8%. Where does unemployment stand today? 

You can trust the projections for this cap and trade bill as much as the projections for the stimulus bill. Cap and Trade is an anchor upon foundering American industries. Companies will move their jobs to other countries to remain competitive, or simply to survive. During a time of recession it is illogical to pass a bill that increases the cost of living for every man, woman, and child. The poor, elderly, and children will suffer the most under this bill when there are fewer jobs, and costs for basic necessities go up.

Mean while Al Gore becomes a billionaire, and environmental extremists celebrate their victory over capitalism. A perceived crisis this time, not to be wasted, by Obama to advance his socialist agenda. Bill by bill Obama is stealing your freedom. First the stimulus, then omnibus, then budget, and now cap and trade. Soon to be followed by universal health care, immigration (amnesty), and the silencing of opposing voices.

Yes ladies and gentlemen if you want to buy or sell a home, this is the year to do it. It may very well be the lowest interest rates you can get for decades to come. Locally Springfield unemployment is the second lowest in the state at 6.3%. Be grateful you live in Springfield. We continue to weather the storm of the recession better than most in the state, and in the nation. How well Springfield fares if cap and trade passes into law will have to be seen after the economic tsunami that will follow.

It’s ironic that Obama who served in Springfield, will be the one to place the log on the camel’s back of the Illinois, and national economies limiting liberty, capitalism, and prosperity. On the other hand what else could one expect from a product of the Chicago political machine?

I once asked a man where he worked; he replied the state of Illinois. I asked what was his job? He replied; shark control manager of the Illinois river. I said there aren’t any sharks in the Illinois river. He said; doing a good job aren’t I?

Cap and Trade is being promoted to protect us from the shark called climate change, when in reality the environment isn’t the one in danger; it is capitalism, freedom, choice, and liberty. I guess this is what Obama meant when he said he wanted to remake America. Folks wanted change, that’s how they voted. Welcome to Amerika.

The news does get better; the Illinois state legislature is returning next week to pass a twelfth hour budget which includes tons of proposed tax increases. Do you think your income will be impacted by that outcome? We’ll know the results next week.

The opinions expressed are solely those of Fritz Pfister, and not RE/MAX Professionals of Springfield or RE/MAX International.