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

Posted By admin On September 16, 2009 @ 3:58 am In Featured Stories | Comments Disabled

Declan McCullagh
cnet [1]
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 [2]) were obtained under the Freedom of Information Act by the free-market Competitive Enterprise Institute and released on Tuesday.

Full article here [1]

Obama administration: Cap and trade could cost families $1,761 a year  270809banner [3] 


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URLs in this post:

[1] cnet: http://news.cnet.com/8301-13578_3-10354179-38.html

[2] PDF: http://www.openmarket.org/wp-content/uploads/2009/11/FOIA-Cap-andTrade-2009-09-11.PDF

[3] Image: http://prisonplanet.tv/signup.html

[4] Obamacare To Cost American Families $15,200 A Year: http://www.prisonplanet.com/obamacare-to-cost-american-families-15200-a-year.html

[5] Obamacare To Cost Middle Class Families $15,000 A Year: http://www.prisonplanet.com/obamacare-to-cost-middle-class-families-15000-a-year.html

[6] Cost of Keeping One U.S. Soldier in Afghanistan Per Year: One Million Dollars: http://www.prisonplanet.com/cost-of-keeping-one-u-s-soldier-in-afghanistan-per-year-one-million-dollars.html

[7] U.S. Treasury: The Costs of Cap and Trade, $1761 per year per household.: http://www.prisonplanet.com/u-s-treasury-the-costs-of-cap-and-trade-1761-per-year-per-household.html

[8] Michelle Obama’s ‘goodwill tour’ of Africa cost U.S. taxpayers AT LEAST $425,000, watchdog group says: http://www.prisonplanet.com/michelle-obama%e2%80%99s-goodwill-tour-of-africa-cost-u-s-taxpayers-at-least-425000-watchdog-group-says.html

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