The Real Costs of Cap and Trade

Whenever someone talks about this Carbon Tax they need to look at these numbers.

In testimony before the Senate Energy and Natural Resources Committee last year, Peter Orszag, Obama's Director of the Office of Management and Budget, admitted that a 15 percent cut in carbon dioxide emissions would reduce American incomes of households would pay an average of $680 more each year for goods and services (3.3 percent of their incomes) and the highest . According to Orszag, the lowest quintilequintile would pay $2,180 more (1.7 percent of their incomes) than they would have in the absence of carbon rationing.

Yup the poor would get taxed almost double the amount that the rich will be taxed. In other words Cap and Trade will be just the thing to produce Tax Hikes for the Poor. There is nothing like the government sticking you with a $680 bill for just turning on your lights at night. So the GOP rallying cry needs to be: Cap and Trade is equivalent to Tax Hikes for the Poor.