According to a Treasury Department analysis of the Cap & Trade legislation, American households would face the equivalent of a 15% increase in their income tax if the Cap & Tax bill passes.
http://www.cbsnews.com/blogs/2009/09/15/taking_liberties/entry5314040.shtml
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.
Just keep this in mind as the Senate begins deliberation on the Cap & Trade bill.
After a brief analysis....three comments:
ReplyDeleteFirst, it will be practically impossible at this point for this to pass. The amount of attention to detail by the public now is at a all-time high.
Second...what you really have to ask yourself...what kind of people would rig up a bill like this....to trigger a 15 percent "tax" on the public? You are left to two types. One would be the idiots who got a Earth Sciences degree but never spent a single day in a economics class...and have no grasp of the public spending agenda. The second type is the one who perceives the tax and wants to force things onto the public without putting the facts on the table. Both dimwits...are a danger to society and the Republic.
Third and final....how many congressmen and senators are capable of grasping facts in this bill and adding up the numbers? I would guess less than ten percent are smart enough to sit down and figure the real costs and grasp this. We hire guys who look good on the screen and well-supported by your local Ford dealer....and that's sad part about our society today.
What I found amusing was on some green sites, the notion that the taxes would be rebated to offset the increased price of energy. Which seems to defeat the whole purpose of the bill.
ReplyDeleteI'll feel comments about watermelon greens on the floor after this quote from Environmental Defense Fund in the article:
"Even if a 100 percent auction was a live legislative proposal, which it's not, that math ignores the redistribution of revenue back to consumers."