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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

1 posted on 09/16/2009 6:24:26 AM PDT by TheNewPundit
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To: TheNewPundit; IrishCatholic; Normandy; According2RecentPollsAirIsGood; TenthAmendmentChampion; ...
 


Beam me to Planet Gore !

2 posted on 09/16/2009 6:26:09 AM PDT by steelyourfaith ("Power is not alluring to pure minds." - Thomas Jefferson)
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To: TheNewPundit

That’s just the start.


3 posted on 09/16/2009 6:28:33 AM PDT by allmost
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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.)
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To: allmost

Thats a lie!

What is unemployment today?

You are right, its just a beginning.


5 posted on 09/16/2009 6:31:39 AM PDT by himno hero
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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)
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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)
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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.


8 posted on 09/16/2009 6:34:35 AM PDT by Pearls Before Swine (Is /sarc really necessary?)
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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”.


9 posted on 09/16/2009 6:35:53 AM PDT by all the best
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To: TheNewPundit

No worries. 95% of the people with get another $6 tax cut.


10 posted on 09/16/2009 6:36:44 AM PDT by jersey117
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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.


11 posted on 09/16/2009 6:40:39 AM PDT by kingpins10
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To: TheNewPundit

....our rural electric co-op estimates power bills will go up 40%


12 posted on 09/16/2009 6:41:50 AM PDT by STONEWALLS
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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!!!!!)
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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)
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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.)
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To: TheNewPundit

If that’s what they’re ADMITTING....double it!!!


16 posted on 09/16/2009 6:46:31 AM PDT by mo
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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
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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)
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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.)
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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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To: Pearls Before Swine

Cash for Clunkers,
Stimulus Package,
Gov’t takeover of GM,
Universal Healthcare,

When are people going to wake up and smell the socialism? Every one of these has just been another elaborate way of redistributing the wealth.


21 posted on 09/16/2009 7:09:57 AM PDT by TrixTheRabbit
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To: steelyourfaith

Gee, is that how much postage stamps cost??? Cuz my Congressman, Joe Sestak told me it wouldn’t cost anymore than a postage stamp per month. Yep, by golly, he sure did.

What a liar.


22 posted on 09/16/2009 7:21:32 AM PDT by SueRae
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To: allmost
It will put a ton of small and medium and maybe large companies out of business. More Job loss, more recession into great Great depression.

These people are either stupid or heartless.

23 posted on 09/16/2009 7:50:21 AM PDT by FreeAtlanta (There is no "O" in Transparency.)
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To: FreeAtlanta
These people are either stupid or heartless.

There, fixed it.

24 posted on 09/16/2009 7:52:20 AM PDT by brewcrew
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To: TheNewPundit

Yeah, and Boston’s Big Dig was only going to cost $2.5 billion. (Up around $22 billion in actual costs now).

Why anyone would take this administration’s numbers seriously is a great mystery. We don’t need numbers from a guy who most likely cannot even read a balance sheet, and who talks about profit/earnings ratios.


25 posted on 09/16/2009 8:01:00 AM PDT by Maceman
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To: TheNewPundit

Never has such wealth been spent on a pipe dream.(well, not since LBJ’s great society at least)


26 posted on 09/16/2009 8:03:06 AM PDT by listenhillary (A "cult of personality" arises when a leader uses mass media creating idealized/heroic public image)
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To: steelyourfaith

I worked all of my life for everything I have.

I retired at 53, I am now 60, and if these traitors keep this national theft up, I could find myself competing for a job at Walmart for a greater position.

This insanity MUST stop, by whatever means necessary.


27 posted on 09/16/2009 8:50:48 AM PDT by Gator113 (YES WE CAN.... http://www.youtube.com/watch?v=7cMxJBenigY&feature=related)
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To: Gator113

greater position.= “greeter” position.


28 posted on 09/16/2009 8:53:44 AM PDT by Gator113 (YES WE CAN.... http://www.youtube.com/watch?v=7cMxJBenigY&feature=related)
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To: TheNewPundit

But...but...Democrats in Congress told me it would be no more than a “postage stamp a day.”

They wouldn’t lie, owuld they? Or were they talking about a $5 postage stamp?


29 posted on 09/16/2009 9:00:38 AM PDT by denydenydeny ("I'm sure this goes against everything you've been taught, but right and wrong do exist"-Dr House)
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To: Gator113
Obama and his administration intend to change America fundamentaly.

We are in a world of hurt and they have just begun.

His security force,

immigration,

returning to having the so called ‘fairness doctrine’, for daily conservative commentators,

Cap and Trade

health care (cutbacks on Medicare)

HIGHER TAXES

redistribution process (of assets/monies)

One World government

Paying world taxes to the UN

and so it goes...

If he is not squashed by our legislative processes ... we are in a world of hurt.

PRAY God to help America.

30 posted on 09/16/2009 9:01:46 AM PDT by geologist (The only answer to the troubles of this life is Jesus. A decision we all must make.)
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To: geologist

“PRAY God to help America.”

Each and every day.


31 posted on 09/16/2009 9:06:16 AM PDT by Gator113 (YES WE CAN.... http://www.youtube.com/watch?v=7cMxJBenigY&feature=related)
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To: TheNewPundit

Too bad the MSM won’t be reporting this though the word will still get out. I would like to see those House Democrats who voted for cap and tax now explain to their constituents how burdening them with the equivalent of a 15% tax hike is such a good thing.


32 posted on 09/16/2009 9:07:52 AM PDT by The Great RJ ("The problem with socialism is that you eventually run out of other people's money." M. Thatcher)
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To: steelyourfaith

Let’s see, approximately $3000 a year for familes making $35,000 a year when the Bush tax cuts expire in 2010, another $1,761 a year for Cap and Tax, 13% of your income for the Senate heathcare reform ($4550 if making $35K), on top of unknown hike in income tax that I’m sure is coming! I sure hope those families making $35K a year can afford the $5K a year out of their pockets especially after the food prices jump because of water rations in CA!


33 posted on 09/16/2009 9:21:19 AM PDT by chris_bdba
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To: TheNewPundit
THE BERNIE MADOFF ENERGY BILL
34 posted on 09/16/2009 9:43:59 AM PDT by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: TheNewPundit
We're doing it for the children planet...
35 posted on 09/16/2009 11:54:11 AM PDT by batter (Wolverines!)
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To: Gator113

Not to mention the inflation that inevitably must follow the printing of fiat money by the Obama administration.


36 posted on 09/16/2009 12:12:01 PM PDT by steelyourfaith ("Power is not alluring to pure minds." - Thomas Jefferson)
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To: chris_bdba

Don’t look now, but inflation is lurking just down the road.


37 posted on 09/16/2009 12:13:22 PM PDT by steelyourfaith ("Power is not alluring to pure minds." - Thomas Jefferson)
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To: TheNewPundit

Liars.

The cascading ripples from higher energy costs will ensure far more than a couple of thou per fam per year.


38 posted on 09/16/2009 12:15:36 PM PDT by swarthyguy (MEAT, the new tobacco. Your right to eat meat ends where my planetary ecosystem begins.)
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To: TheNewPundit
My guess is 3 time that. I don't think they figured in the fact that everything will cost more. Milk, eggs, bread, cheese, refrigerators, Cars. Doctors, lawyers and bankers will need to charge more too. Just bad news all around.
39 posted on 09/16/2009 12:56:37 PM PDT by CPT Clay (Pick up your weapon and follow me.)
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