Wednesday, September 16, 2009

Obama administration: Cap and trade could cost families $1,761 a year


Declan McCullagh
cnet
Wednesday, Sept 16th, 2009

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.

Full article here

1 comment:

  1. nader paul kucinich gravelSeptember 16, 2009 at 11:52 AM

    9/11 puppet
    AIPAC puppet
    Neocon puppet
    Federal Reserve puppet

    Uncle Tom or Uncle Sam?

    Ventura Sheehan Perot Paul Nader McKinney Kucinich Kaptur Gravel Gonzalez Clemente Choate Carter Baldwin Anderson

    ReplyDelete

Sheeple



The Black Sheep tries to warn its friends with the truth it has seen, unfortunately herd mentality kicks in for the Sheeple, and they run in fear from the black sheep and keep to the safety of their flock.

Having tried to no avail to awaken his peers, the Black Sheep have no other choice but to unite with each other and escape the impending doom.

What color Sheep are you?

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