Let us be frank and cut to the chase here: In essence, "Cap and Trade" will place an annual "tax" of up to $1800 a year on the average American family in a misguided attempt to reduce carbon emissions.
And who will be hurt the most by this energy "tax?"? The poor and working class, that's who. And a whole bunch of blue collar industries, as well. And not a word from the unions.
From CBS News:
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...Continued