Obama Admin: Cap And Trade Could Cost Families $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 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."
www.cbsnews.com...

Ooops!

The trues costs of environmental regulations are slipping out from the administration.

Of course, these are likely conservative estimates!

What happened to the "no tax increases" promise?

jw

Mod Edit: BB code.

[edit on 21/10/2009 by Mirthful Me]

reply to post by jdub297


Add that to the estimated $3,000 per vehicle costs of the EPA automotive regs Obama published yesterday.

Ooops!
"Who needs Cap & trade? New Auto Regs Raise milegae and emissions restrictions"
www.abovetopsecret.com...

Can't say you weren't warned.

jw

reply to post by jdub297


UPDATE!
"Un-Redacted Portion Reveals True Cost Estimate: 300 Billion"

The Treasury Department released today the unredacted documents related to CEI’s recent FOIA request.

The formerly redacted portion of the docs puts the taxes potentially levied by cap-and-trade at an astounding $300 billion per year!

greenhellblog.com...

Link to unedited Treasury Dept. FOIA document:greenhellblog.files.wordpress.com...

That makes the cost over $2,500/ year.

And that's a conservative estimate!

jw

I believe it's even worse than that. I wouldn't be surprised if my utility bill increased by over $100 a month and I have a small energy efficient house. Just double your bill for an easy estimate. Gas for your car and natural gas if you use it in your home will be a lot more expensive too. I wouldn't be surprised if it was at least triple the cost when these new taxes go into effect.

Cap and Trade is wrong for America. This new tax would result in a more direct cost increase of $1760 a year for your utilities (electric, gas, etc.), a lot higher if your utilities are a lot higher than that already (I'm thinking just double your utility bill.) and much more expensive gas for your car. This doesn't even consider the multiplier effect of higher energy prices. Trucks that transport our food will have higher prices. Bakeries that bake your bread will have a lot higher costs. Food prices and everything that gets shipped will have higher costs. The net effect may be 2 or 3 times $1760 when you factor in all the other higher costs. If enacted I will have to cut costs everywhere possible and still not be able to save any money for a new electric or more efficient car. How is that helping me or the environment? It's not.

Then I just read tonight that one of our South Carolina Republican senators Lindsey Graham supports cap and trade. It may sound good to him, he can afford it. I won't be able to. Instead of giving incentives and tax breaks if you have the money to buy a new car, it sounds like they want to tax us to death so we won't have anything left. If passed, I really do not see how many families will be able to survive if they are still employed and need every dime they make. I've been trying to save my money but these new higher costs ($1761 per year times 2 or 3 for other hidden cost increases to food, etc. you name it) will make things pretty rough for me. Without the tax increases, I can continue to save about $1760 per year as long as I stay employed. I'm wondering if we have idiots running our country if they don't understand simple economics like this.



[edit on 21-10-2009 by orionthehunter]

reply to post by jdub297

This is just one more tactic of the Obama administration to destroy the American family, and the American way of life. He wants nothing less than a complete dictatorship, where every single person in the United States is dependent upon the government for their very existence.
He is systematically destroying everything that hard working Americans spent centuries building.

Originally posted by ProfEmeritus
This is just one more tactic of the Obama administration to destroy the American family, and the American way of life. He wants nothing less than a complete dictatorship, where every single person in the United States is dependent upon the government for their very existence.
He is systematically destroying everything that hard working Americans spent centuries building.

Not sure what he is destroying. Our awesome economy? The excellent family life we enjoys? Our physical or mental health?

All those things are already broken, shoot, they have been getting worse for 30 years now. That said, I can't say that Obama is destroying anything, but I will say that he is tapping a dry well.

Screw the Cap and Trade nonsense along with the global warming junk. It's only a piece of the pie.

reply to post by KrazyJethro

Not sure what he is destroying. Our awesome economy? The excellent family life we enjoys?

I can only say that if you feel that way about your family life, then indeed, for you, all has already been destroyed.

Originally posted by ProfEmeritus


I can only say that if you feel that way about your family life, then indeed, for you, all has already been destroyed.

Wow. You ignored my post, picked out one piece of it, extrapolated on it, then applied it to me specifically.

Perhaps I should add the American Political System to the list. I was hoping for something more interesting.

Originally posted by KrazyJethro
Not sure what he is destroying.

Think about the millions of Americans who are just getting by, making their payments, nothing fancy you know.
Small 3 bedroom ranch in the suburbs, a reasonable mortgage with reasonable payments, car is paid for, a few years old. Little, if any, debt.
Middle America, if you will.

Cap and Trade will destroy them.







And, if by some miracle those folks get through that, the healthcare plan will finish the destruction.

Originally posted by DontTreadOnMe
Think about the millions of Americans who are just getting by, making their payments, nothing fancy you know.

Very few are without blame on that count, even the people. It's not a secret that after wages ceased increasing with productivity and sat still (with a slight downward trend), that the credit market took over.

We all were culturally stupid.

Small 3 bedroom ranch in the suburbs, a reasonable mortgage with reasonable payments, car is paid for, a few years old. Little, if any, debt.
Middle America, if you will.

Cap and Trade will destroy them.

Almost anything will destroy them at this point. I see no need to bother saying which stupid idea will take the cake.

And, if by some miracle those folks get through that, the healthcare plan will finish the destruction.

True, but I think the conversation is wrong. These are things you can't do anything about.

I think it's sad when elected officials say they support a bill or proposal like this but don't understand what these higher costs will do to the average American family struggling to get by as things are now. Taking this tax money or money collected via Cap and Trade and giving it away to people in other countries doesn't seem right either. I have wondered if the alternative is to let the value of the dollar drop so much that it's not worth much anyway. That would make my life savings in my 401K pretty much worthless or only worth a small fraction of what it used to be worth. I do believe gas, oil and energy prices will naturally rise without adding additional costs or taxes to them. People can save their money and use it for a downpayment on a new electric car when they come out and become affordable. However if electricity and every other energy source costs a whole lot more than it would otherwise thanks to the government, our government will only be making things worse. Average Americans with money will spend money to save money (they will buy electric cars if it saves them money). However if they had all their spare change taken away via Cap and Trade, I doubt they will want to go out and buy a new car.

Originally posted by DontTreadOnMe

Middle America, if you will.

Cap and Trade will destroy them.

there will be no 'middle america' by the time CT rolls around.

CT will not happen if it will cause such a rise in taxes (15%), period.

reply to post by orionthehunter

If enacted I will have to cut costs everywhere possible and still not be able to save any money for a new electric or more efficient car. How is that helping me or the environment? It's not.

Since Energy Sec. Chu wants "European prices" for gasoline and utilities, and Science CzarHoldren backs "de-development," the answer is simple: you just won't use as much as before. Makes everything "greener" if you can't afford to commute, have to turn off all power-consuption, and reduce your food intake to bare necessities.

Gov't will take care of most basic needs for you. If you let them.
Health, food, education, work, internet will all be gov't services under Obama's dream.

Don't worry. They're here to help you. They're from the government.

jw

reply to post by DontTreadOnMe

Think about the millions of Americans who are just getting by, making their payments, nothing fancy you know.
...

Middle America, if you will.

Cap and Trade will destroy them.

And "Single (government)-payer healthcare" and "Safe Foods" and "Green Autos" and "Federal Education."

Don't say I didn't warn you last year. Read his books. Study the man.
(I've repeated this at least a dozen times. It's probably way past too late, now.)

This guy listened to and prayed with his mentor and minister for over 20 years, 'til he threw him under the bus to get elected.

For years Jeremiah Wright has espoused an end to "middleclassness" to his black congregation.

Both he and Obama have written at length that the only way to equality in America is to bring the majority DOWN to the level of the most put-upon and disregarded of all Americans, a "black underclass."

By striking at the middle class, he will create an oligarchy in which the privileged co-exist with government and the rest depend on it.

Deny ignorance.

jw

Cap and Trade will kill the electric car.

The raise in electric cost because of cap and trade will make the cost of charging electric cars so high that people will not buy them.

Only people that work night shift and can put solar panels on there homes to charge there car while they sleep during the day will find a savings in buying a electric car.
Even then the added cost may still make it break even to drive a electric car.

It starting to look like cap and trade is not going to mater.

China and India are going to tell the Copenhagen Conference "no thanks"

And Mexico, Brazil and South Africa are likely to join them.

This means that over 1/3 of the worlds population will not abide by any global warming treaty.
www.investors.com...


How will the US run a cap and trade law without 1/3 of the world and do anything about CO2 levels.

This cap and trade will become the biggest killer of the US without the rest of the world support.

reply to post by ANNED

They've made it "official" with their agreement, but this has been coming for a while:

Largest polluters unite
www.abovetopsecret.com...

India urges emerging nations to oppose "green protectionism"
www.abovetopsecret.com....

jw

Where is the link to the article? And in your first paragraph alone, you used a nice scare tactic and amped up 2-3 times what people are going to pay for power in just one short paragraph, with absolutely no proof whatsoever.

reply to post by DontTreadOnMe


I have to say you're pretty darn scary in your accuracy. That's my family to a tee. I posted this comment in another thread on the same topic and I'll post it here too.

We receive a monthly publication from our electric co-op. In the June publication, it showed a chart of rate increases should cap and trade pass. Our electric bill would increase anywhere from 19% to, hang on to your hats, a whopping 49% a month. All depending on what the credits auction for.

We have a mortgage, utilities, groceries and other various minor expenses every month for a family of five. We've only barely been getting by for several months now. An increase of even 19% could be the tipping point for us.

I'm to the point now that any time I hear talk about the "green movement" or "going green", I'm afraid I'll start frothing at the mouth. This administration is hell bent on destroying life as we know it.

reply to post by soldiermom


You got a letter from your power company stating that? Don't you think that their information is going to be a little biased?