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Obama Admin: Cap And Trade Could Cost Families $1,761 A Year
cbs ^
| 9/15/2009
| Declan McCullagh
Posted on 09/16/2009 6:24:25 AM PDT by TheNewPundit
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.
(Excerpt) Read more at cbsnews.com ...
TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: 111th; agenda; bhoeconomy; bhofascism; bhotyranny; capandtax; capandtrade; cei; communism; congress; democrats; donttreadonme; economy; energy; envirowackos; globalwarming; liberalfascism; lping; obama; redistribution; socialism; spreadthewealth; taxcheatparty; taxcheatperty; taxes; tyranny; unemployment
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To: TheNewPundit; IrishCatholic; Normandy; According2RecentPollsAirIsGood; TenthAmendmentChampion; ...
2
posted on
09/16/2009 6:26:09 AM PDT
by
steelyourfaith
("Power is not alluring to pure minds." - Thomas Jefferson)
To: TheNewPundit
3
posted on
09/16/2009 6:28:33 AM PDT
by
allmost
To: TheNewPundit
Well thats not a whole lot of money for a millionaire like Obama. But it is going to sting me quite a bit. It is going to nuke those who are now either out of work or under employed thanks to Obamas economic miracle. /sarc So Obama is attempting to enact an inverse progressive tax that is barely noticeable to the Obama, Oprah, and Soros, but which hammers the families of average Joe America.
4
posted on
09/16/2009 6:31:38 AM PDT
by
GonzoGOP
(There are millions of paranoid people in the world, and they are all out to get me.)
To: allmost
Thats a lie!
What is unemployment today?
You are right, its just a beginning.
To: TheNewPundit
But Obamacare will save us twice as much!..................
6
posted on
09/16/2009 6:31:45 AM PDT
by
Red Badger
(The problem with socialism is that sooner or later you run out of other peoples' money...M. Thatcher)
To: GonzoGOP
At the upper end of the administration's estimate, the cost per American household would be an extra $1,761 a year. That means the ACTUAL cost will be DOUBLE the "estimate"...........
7
posted on
09/16/2009 6:33:25 AM PDT
by
Red Badger
(The problem with socialism is that sooner or later you run out of other peoples' money...M. Thatcher)
To: TheNewPundit
Don’t worry, the amounts will be rebated at the lower end of the scale. So, a previously well-off family will pay its own share plus the share of one or two other families.
In other words, if you are poor, you’ll get an environmental rebate of about $1500 to $2000; if you were somewhat better off, you’ll pay $4000 to $5000.
Its yet another arm of the redistribution octopus.
To: allmost
Keep in mind that government programs ALWAYS get bigger, more costly and more intrusive. No matter how bad they start out, it’s only the beginning. Government creates its own demand because its solutions always cause more problems. Which in turn require more “solutions”.
To: TheNewPundit
No worries. 95% of the people with get another $6 tax cut.
To: TheNewPundit
We wish it were only that much. Millions more jobs will be lost to Cap and Trade as companies will be leaving America. Companies that produce food products will be gone.
Another “giant sucking sound of jobs leaving the US”, as Ross Perot would say.
To: TheNewPundit
....our rural electric co-op estimates power bills will go up 40%
To: TheNewPundit
Just doin’ what it takes to break the back of the middle class.
13
posted on
09/16/2009 6:43:57 AM PDT
by
ladyvet
(WOLVERINES!!!!!)
To: allmost
It is a bit on a lowball figure compared to previously published estimates. I was working this very article up to post and did a search on FR to see if it had been posted already. It hadn't, however back in May of this year several FR threads linked to an article that predicted that C&T would cost families $3100/year, for example:
http://www.freerepublic.com/focus/f-news/2253765/posts
It is predictable that once implemented the economic devastation of Cap & Tax would get progressively worse yearly.
14
posted on
09/16/2009 6:44:16 AM PDT
by
steelyourfaith
("Power is not alluring to pure minds." - Thomas Jefferson)
To: TheNewPundit
They’re lying - electric rates will double over a couple of years as utilities move to natural gas for generation. And, as a bonus, the price of residential natural gas will rise as well as demand rises against supply.
15
posted on
09/16/2009 6:45:08 AM PDT
by
meyer
(Do not go gentle into that good night - Rage, rage against the dying of the light.)
To: TheNewPundit
If that’s what they’re ADMITTING....double it!!!
16
posted on
09/16/2009 6:46:31 AM PDT
by
mo
To: TheNewPundit
If the government is involved multiply the cost by a factor of 3 to 8 times.
17
posted on
09/16/2009 6:48:00 AM PDT
by
Rodm
To: TheNewPundit
I can not afford another $1700 a year.
18
posted on
09/16/2009 6:52:28 AM PDT
by
Big Horn
(Rebuild the GOP to a conservative party)
To: steelyourfaith
Does that include the cost of unemployment and fighting the civil war?
19
posted on
09/16/2009 7:01:40 AM PDT
by
depressed in 06
(Idiotcracy has arrived 400 years early.)
To: depressed in 06
I rather doubt that it does include those as well as other “unintended” consequences.
20
posted on
09/16/2009 7:07:58 AM PDT
by
steelyourfaith
("Power is not alluring to pure minds." - Thomas Jefferson)
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