More Hope and Change from the Obama Administration: Cap & Trade Will Cost American Households $1,761 a Year
More Obama Hope & Change:
Hey America, ready for this expense during a recession? I thought President Obama said that he would not pass a tax on the middle class? Obama also said that “Tax & trade” would not cost this much. The budget director and the President admit it will result in high energy costs for “We the People”.
Barack Obama, never met a tax he did not like. He just does not stop in his taxing of the people and business. How is the economy suppose to grow?
From the lips of the Obama Administration … Cap & Trade will cost American households $1761 a year.
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.
The documents (PDF) were obtained under the Freedom of Information Act by the free-market Competitive Enterprise Institute.
The Gateway Pundit reminds us of the spin that Obama first came out with to sell this ridiculous piece of legislation. Once again Obama has low-balled the price of legislation. Imagine how much he is lowballing Obamacare!
Barack Obama admitted last year that cap and trade legislation would cause electricity prices to skyrocket.
Obama admitted that cap and trade will likely cost $700 to $1,400 dollars per US family per year