Cap and Trade Will Cost $1,761 Per Family: US Treasury Dept

An analysis was conducted by US Department of Treasure, which showed that President Obama's "Cap and Trade" legislation, also called "Cap and Tax" by many Americans, would cost the American Tax Payers up to $200 billion a year, the equivalent of increasing federal income taxes by 15%, and it would increase energy costs by $1761 per year per family. The report was given privately to Obama Administration, but not released by the Obama Administration for public viewing. The report, however, was obtained through Freedom of Information Act, by Competitive Enterprise Institute (http://cei.org/).

This legislation got passed by the House of Representatives, back in June, by a razor thing margin of 7 votes, with 219 voting for the bill, and 212 voting against it. 95% of the Republicans stood against this bill.

President Obama is pushing for the bill to be passed by the Senate this fall. It is questionable whether Obama can get this bill passed by the Senate, given that 95% of the Republicans will stand united against this single biggest (hidden and indirect) tax increase our country has ever seen, and given that a few Democratic Senators from agriculturalist / industrialist states may also be forced to vote against the bill.

President Obama made a repeated campaign pledge that 95% of the Americans will not have a single penny of their taxes increased, during the first 4 years of his Presidency. President Obama is fighting hard for the Senate to pass this legislation. President Obama, indirectly, is fighting hard to have our federal taxes indirectly raised by 15%. President Obama is fighting hard to increase our energy costs by $1761 per year per family. President Obama is fighting hard to increase our unemployment further by passing this legislation, as many refineries in Texas and other states have already said openly that they will be forced to shut down some operations in US, and outsource aspects of production overseas, if this legislation becomes law.

And so much for President Obama's campaign pledge of transparency. If not for the efforts of Competitive Enterprise Institute obtaining this Treasury Department analysis through Freedom of Information Act, Obama Administration would have kept this report private, as they have been doing. If not for the efforts of Competitive Enterprise Institute, the people of America would not have even known what our Treasure Department advised Obama Administration in private about this legislation. Many Americans are saying, thank you Mr. President, for the false promises of transparency.