The Radical Progressive plan of Cap and Trade is nothing but a stealth tax increase. For months, critics have pointed out that it will raise the cost of living on Average Americans. The Obama Administration along with their Progressive minions have denied this was the case. However, now they are admitting that it will cost the average American $1,761 a year.
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.”
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Obama caught in another lie, this is not surprising. What is shocking is the admission of the Administration, that it will raise the cost of living. This does nothing to benefit the environment, all it does is enrich Traitor organizations like GE and Elites like Al Gore.
Cap and Trade is just another example of the Neo-Feudalist mindset of Progressives. They could care less about the effects of their plans, it’s all about imposing their vision on society. Cap and Trade must be defeated!
Tags: Al Gore, Cap and Trade, GE
