Cap and Trade could cost families almost two thousand dollars a year!
WASHINGTON - September 15, 2009 - The illegitimate Obama regime has privately concluded that a cap and trade law would cost Amerikan taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15%.
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 regime's estimate, the cost per Amerikan household would be an extra $1,761 a year.
A second memorandum, which was prepared for Obama's transition team after the bogus November election, says this about climate change policies: "Economic costs will likely be on the order of 1% of GDP, making them equal in scale to all existing environmental regulations."
The documents were obtained under the Freedom of Information Act by the free-market Competitive Enterprise Institute and released on Tuesday.
