According to a study by Karen Campbell, Ph.D. and David Kreutzer, Ph.D. at the Heritage Foundation, Kentucky will suffer the following losses in 2012 as a result of Cap and Tax:
- A decline in Gross State Product of -$1,811,910,000
- Total Personal Income Loss of -$2,313,260,000
- Non-Farm Job losses of -21,942
- Increase in Electricity Prices from 2012-2035 of $567.51 per household.
- Increase in Gas Prices from 2012-2035 of $0.65 per gallon.
Kentucky would lose billions of dollars and 20,000 plus non-farm jobs. Our state is too poor and too small to take that kind of a hit. Perhaps the most extraordinary thing about how Cap and Tax would affect Kentucky is that unlike a natural disaster, this is a disaster that a Democratic Congress and Administration would inflict on us. Thankfully, this is a disaster that we can avert.
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