Cap & Trade— is it helping the environment or a national energy tax?
Senator Kerry the other day said he didn’t know what “Cap & Trade” was; he’s calling it a “Pollution Reduction Bill”. We call it “Bull”.
“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.”
“One reason the bill faces an uncertain future is concern about its cost. House Republican Leader John Boehner has estimated the additional tax bill would be at $366 billion a year, or $3,100 a year per family. Democrats have pointed to estimates from MIT's John Reilly, who put the cost at $800 a year per family, and noted that tax credits to low income households could offset part of the bite. The Heritage Foundation says that, by 2035, "the typical family of four will see its direct energy costs rise by over $1,500 per year."
Today, “Senate Democrats on Wednesday introduced a sweeping bill aimed at combating climate change, pushing forward with President Obama's call to tackle global warming even though Congress is waist-deep in debate over health care reform."
“President Obama and House Speaker Nancy Pelosi issued brief statements Wednesday praising the proposal. Obama said he's "deeply committed" to passing such a bill.”
So, the bottom line is they know that it is going to cost all of us and extra $1,761 per year and yet they still want to ram this through? Do you have an extra $1,761 just laying around for the government to take—we don’t.
Call/write/email the White House/Senate/Congress and tell them to vote “NO” on this legislation as it is currently proposed. It’s my money and yours, don’t let the government take anymore of it away!