Obama's Cap & Trade: Broken Promises for America's Taxpayers
9/16/2009 3:25:00 PM - Meredith Jessup
"I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."
During his campaign for the oval office, Obama made this promise to his avid base of supporters. Too bad, as CBS reports
, it's a big. fat. lie.
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
Raise your hand if you'd happily swallow a 15% hike on your income taxes! If, however, you're not eager for a tax increase call your representatives
and demand they oppose
the proposed "cap and trade" climate change legislation currently awaiting final approval in Congress.
How do you suppose Obama will try to spin this one? Well, it's not technically a tax increase... it's just the equivalent of a tax increase. Call your senators and representatives and tell them to oppose the cap and tax plan before "change" is all we have left in our pockets.