Posted on 09/16/2009 11:26:21 AM PDT by Free ThinkerNY
Supporters of the administration’s plans for cap-and-trade have argued that the costs would be minimal for American households, as low as $175 per household per year, as the White House proclaimed an incomplete analysis from the CBO. A new study shows that the actual costs per household are ten times that number, almost $150 per month, once cap-and-trade gets implemented. What right-wing organization created that analysis?
The Treasury Department:
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.
The Obama administration used arguments that they knew weren’t accurate in order to push this legislation through the House. Obama himself made these arguments, while analysts in the government had already shown them to be false. In other words, Obama lied, and so did his administration and allies in Congress.
(Excerpt) Read more at hotair.com ...
OK ... roughly $1800 for this and how much for HealthCare? What are these fees or something because I did hear something about no taxes or was it all a dream?!!
Obama IS the lie.
(for southpark fans, see “Bono is the record.” How many courics does obama weigh?)
You mean when he said he would not increase taxes on anybody who earns under 250K (and yes, this is a tax) he wasn’t telling the truth? No way. I thought this was to be the most honest and transparent badministration in history. I guess I am just a dumbass. I guess I am a racist.
Sequester Baraqqis not carbon!
Well technically he didn’t say Earth year, that $1761 per year could be per Mercury year (which is 88 Earth Days)
Carbon Cap Tax & Scam Ping ~ (POGW)
$1800 is waaaaay low...
Hopey Changey :)
Is that all, where do I sign up? /s
Between Obamacare and Cap and Tax a household making decent money is going to have to pony up four or five hundred bucks per month. About enough to buy health insurance for one person. Really, how can it be any other way?
Remember, they said 'average' household, which to them is welfare queen with no wheels, and no household bills. (it's all freeee!)
For what i spend on gas alone, That sounds right- for the monthly cost increase.
It is “The Chinese Dollar-A-Day Factory Worker Job Security Bill”
The tax of $1,761 is just the start. Taxes have what is called a multiplier effect...they exert downward pressure on the economy.
In other words, not only will families have to pay an additional $1,761 but the economy will contract as result of pulling this money out of the consumers' disposable income and many folks will lose their jobs. Small businesses will see sales and incomes decline much more than just $1,761.
$1,761 is just the match that lights the fire. Of course, Obama doesn't understand business well enough to know that! He thinks money grows on trees and that, in the composite, such trees make up the "pie" that he and Michelle want to spread to his constituents.
I surprised it’s going to cost that much, when we’re all living in shacks without electricity.
This estimate of the cost of crap-and-tax is off by a magnitude that may as much as 10X.
It is not only the out of pocket cost, but the diminished wage and entrepreneurial opportunities as well. This whole scheme will throw this country into an extended depression that will make the period 1930-1948 look like a rainy afternoon at the park. This is simply confiscating the margin of profit that would have gone to expansion and productivity gains distributed as additional compensation to the employees.
Now, coupling this crap-and-tax with mandated health insurance coverage, the households of America will be plunged even deeper into penury, and because of the rationing aspects of the health care “reform”, the consumers will be dying at an earlier and earlier age, as the life-extending medical procedures will no longer be available on a timely basis.
They admitted today that the new min gas mileage requirements they are putting on cars will cost more then that so I think this number is way to low and it will cost only the taxpayers more. See for the poor, like the smog check they get for free and we pay for them - so they divide by everyone but then pass legislation that only 1/3 have to pay.
These guys, BO’s crew, areb the gang that can’t get their numbers straight.With the increase in income taxes (10% bracket increase for everone) after 2010 and the impact of cap and tax, the deficits that keep rising and the gap, due to reduced revenues to fund them plus the impending inflation casued by this alone (cost push) not even taking into account the inflation caused by the FED and aforementioned increasing and unfinanced deficits, our dedicated disciplined marxist is really screwing things up nicely while he gets into a trade war with China , our largest debt buyer. Go Comrade O go. People’s republic here we come.2010 our last chance.
No, silly. It works out really well. You have to understand basic math in DC and, obviously, you don’t. Here’s how it goes.
“Cash For Clunkers
A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.
A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year.
So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles were sold so that’s 224 million gallons/year.
That equates to a bit over 5 million barrels of oil.
5 million barrels of oil is about 1/2 of one day’s US consumption.
And, 5 million barrels of oil costs about $375 million dollars at $75/bbl.
So, we all contributed to spending $3 billion to save $375 million a year.
Now you know why our government is going broke. (Also makes you wonder about their claim that they can fix health care at no additional cost)”
See how clear it is now?????
2007 average annual household income of $50,233. That would be an average annual tax increase of 3.5% per average household income. Yeah, THAT ought to stimulate the economy!................../s
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