This is liquid-spitting material. Not because it isn’t true (and most of us knew it already)… but because CBS News of all outlets is the one reporting it!
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.
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.”
WHOA. Mr. President — what happened to “tax cuts for 95% of all Americans”? Or at the very least — “tax hikes for those making above $250,00. This doesn’t even count the hidden tax of healthcare reform that most middle-class families will pay.
It turns out that US Rep. Joe Wilson was right. The President and his fellow organizers in the White House DO LIE. Repeatedly.