President Obama and Speaker Pelosi are now championing a "Cap and Trade" scheme that will ration energy while increasing taxes. A version of this proposal was introduced last year as the Warner/Lieberman Cap and Trade bill. Here are the key details from last year's legislation that are the basis for the Obama/Pelosi plan:
$1.2 TRILLION Tax Increase over 7 years on gasoline, home energy and really all energy in next decade. Source: Congressional Budget Office, April 10, 2008
this tax would cost the economy 3 to 4 million jobs according to an analysis by the American Council on Capital Formation
the average family would lose over $4,000 per year in purchasing power (and remember the Pelosi/Obama tax cut was only $800 per couple)- Gasoline prices would increase anywhere from 77 to 145 percent--that means prices of about $2 a gallon now would go up to $3.50 or even $5 a gallon.
Source: AFP Americans for Prosperity. We encourage you to do your own research as this is a biggie that sounds so innocuous. NOT.
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