CBSNews, 9/15/09: "
The Obama administration has privately concluded
- that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of
- hiking personal income taxes by about 15 percent.
A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration's estimate, the cost per American household would be an extra $1,761 a year.
- A second memorandum, which was prepared for Obama's transition team after the November election, says this about climate change policies: "Economic costs will likely be on the order of 1 percent of GDP, making them equal in scale to all existing environmental regulation."
The documents (
PDF) were
obtained under the Freedom of Information Act by the free-market
Competitive Enterprise Institute and released on Tuesday.
- These disclosures will probably not aid the political prospects of the Democrats' cap and trade bill. The House of Representatives approved it by a remarkably narrow margin in June -- the bill would have failed if only six House members had switched their votes to "no" -- and it faces significant opposition in the Senate."...
from CBSNews.com, 9/15/09, "
Obama Admin: Cap and Trade Could cost families $1761 a year," by Declan McCullagh
- (As we all know, this will sail through like everything else but be called something different than cap and trade). ed.
2 comments:
So what's new? Would you rather fry the planet or pause our increasing standard of living for less than a year. By the way I don't support cap and trade but stopping carbon dioxide emissions will not be free.
Perhaps you are joking. If not and you're just not up to date, your choices are based on the false premise that man-made global warming exists, which it does not. Decades, lives, and trillions of dollars are invested in a false premise. Those who don't wish to let go of the fantasy are free to join brutal equatorial dictators, UN grifters, and hedge fund thugs on the global commons.
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