Obama Admin: Cap And Trade Could Cost Families $1,761 A Year

cbs ^ | 9/15/2009 | Declan McCullagh

[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.

[steelyourfaith]

 

Beam me to Planet Gore !

[allmost]

That’s just the start.

[GonzoGOP]

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.

[himno hero]

Thats a lie!

What is unemployment today?

You are right, its just a beginning.

[Red Badger]

But Obamacare will save us twice as much!..................

[Red Badger]

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"...........

[Pearls Before Swine]

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.

[all the best]

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”.

[jersey117]

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

[kingpins10]

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.

[STONEWALLS]

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

[ladyvet]

Just doin’ what it takes to break the back of the middle class.

[steelyourfaith]

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.

[meyer]

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.

[mo]

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

[Rodm]

If the government is involved multiply the cost by a factor of 3 to 8 times.

[Big Horn]

I can not afford another $1700 a year.

[depressed in 06]

Does that include the cost of unemployment and fighting the civil war?

[steelyourfaith]

I rather doubt that it does include those as well as other “unintended” consequences.

[TrixTheRabbit]

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.

[SueRae]

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.

[FreeAtlanta]

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.

[brewcrew]

These people are either stupid or heartless.

There, fixed it.

[Maceman]

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.

[listenhillary]

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

[Gator113]

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.

[Gator113]

greater position.= “greeter” position.

[denydenydeny]

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?

[geologist]

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.

[Gator113]

“PRAY God to help America.”

Each and every day.

[The Great RJ]

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.

[chris_bdba]

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!

[P-Marlowe]

THE BERNIE MADOFF ENERGY BILL

[batter]

We're doing it for the children planet...

[steelyourfaith]

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

[steelyourfaith]

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

[swarthyguy]

Liars.

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

[CPT Clay]

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.