Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Obama administration: Cap and trade could cost families $1,761 a year

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Declan McCullagh
cnet
Wednesday, Sept 16th, 2009

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.

Full article here

Obama administration: Cap and trade could cost families $1,761 a year  270809banner 

This article was posted: Wednesday, September 16, 2009 at 3:58 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
James Foley Beheading: What They're Not Telling You See the rest on the Alex Jones YouTube channel.

CDC Reports On Safety Breach with Bird Flu Virus See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.