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.
Not exactly breaking news; I said the same thing back in June. The US Treasury is putting the cost per family at around $147.00 a month in direct energy costs. Of course, everyone who pays taxes will also see increases due to indirect energy costs. After all, who pays the electric bill at the school down the road? The taxpayer. The same applies to every public and municipal building. What other indirect energy costs are there? Who pays the electric bill at the grocery store? Is it paid out of the store’s profits or are operational costs built into the price of goods that consumer’s purchase? The Treasury’s estimate is beginning to sound a little low isn’t it?
Consumer’s will pay for Cap and Trade (and a host of other progressive programs) in increased costs not in increased federal income taxes. It is a twofer for the President; he gets taxpayers to pay for his agenda while claiming that he hasn’t raised taxes.
Beware the hidden cost of seemingly “free”, feel good programs.