Remember all that talk during the campaign about not raising taxes on anyone who makes less than $250,000? That apparently, in the immortal words of Ron Ziegler, is now inoperative:
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.
That’s $150 per month to satisfy the deluded greenies in the Obama administration, enough easily to purchase a good Blue Cross Blue Shield health insurance policy for an individual.
