Wednesday, September 16, 2009

Cap and Trade...and Tax!

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.

The documents were obtained under the Freedom of Information Act by a group called Competitive Enterprise Institute.  The .pdf of the documents may be viewed HERE.

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