New figures for cap and trade

[cptacek]

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.

Obama Admin: Cap And Trade Could Cost Families $1,761 A Year - Taking Liberties - CBS News

[GREENBACK]

I hope I'm not the only one who can see another "smoke and mirrors" push for this; similar to the current health care debate.

[cptacek]

Another quote from the article sticks out as well:

One odd point: The document written by Jaffee includes this line: "It will raise energy prices and impose annual costs on the order of XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX." The Treasury Department redacted the rest of the sentence with a thick black line.

The Freedom of Information Act, of course, contains no this-might-embarrass-the-president exemption (nor, for that matter, should federal agencies be in the business of possibly suppressing dissenting climate change voices). You'd hope the presidential administration that boasts of being the "most open and transparent in history" would be more forthcoming than this.

By the way, this has already passed the House. It just takes the Senate now.

Personally, I hope everyone knows that the "Cap" in "Cap and Trade" will effectively cap our economy. Anyone who says differently is either not telling the truth or does not know the truth, because that is the point of cap and trade.