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.