Flipping on your lights will cost you $3,100 a year
The GOP Leader blog has an interesting post on the true costs of President Obama and the congressional Democrats' cap-and-trade energy tax which is part of their FY2010 budget.
Bottom line? It will cost your family $3,100 extra in taxes every year to turn on your lights, drive your car and buy American products. How did Leader Boehner get the $3,100 figure?
"It’s pretty simple. We took MIT’s own estimate of a key “cap-and-trade” bill from the 110th Congress (S. 309) cosponsored by then-Senator Obama that said S. 309 would generate $366 billion in revenues in 2015. S. 309’s emissions targets track the emissions targets outlined in Obama’s budget, which the Congressional Research Service has confirmed. We took MIT’s own number – $366 billion – and divided that by the number of U.S. households (we assumed 300 million people and an average household size of 2.56 people…which is 117 million households). Using this formula, you get roughly $3,000 per household ($3,128 using current Census figures, a little less if you use projected Census figures from 2015). Now, this doesn’t even account for costs resulting from higher prices for food and all other products that will cost more to produce under their program."