Cap-and-Trade To Cost Average Tax Payer Nearly $2,000

President Barry Vladimir Hussein Soetero Obama has this habit of claiming that all of his magic bean projects will save humanity at no cost to the overwhelming majority of tax payers. Of course, that doesn't mean his cadre of advisers are not aware of reality. Declan McCullagh reported on the CBS blog that internal memos show that the cap-and-trade bill being debated in Congress will create a very significant tax increase on every American family.

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.

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."

The documents (PDF) were obtained under the Freedom of Information Act by the free-market Competitive Enterprise Institute and released on Tuesday.

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So, the White House's numbers project nearly $1,800 a year in new taxes for each household. Given that government estimates are never even close to accurate, this has to scare anyone who isn't a extreme environmental wacko.

John Podesta and the Extreme Left Center for American Progress got their collective panties in a wad over the story. Declan McCullagh followed up his original story on the CBS blog.

Cap-and-Trade barely passed the House and will have big trouble getting through the Senate. Public outcry after the House vote makes it unlikely a conference bill can be successful. However, it is time to crank up the phone calls, letters, and emails once again. Cap-and-Trade is just another front of the Left's war on capitalism, prosperity and freedom.