I’ve written before about what a disaster a carbon cap and trade plan would be for this country, and how hugely expensive it would be to the average American household. Here’s yet another article reinforcing the same theme, with the average estimated new expense for each household adding up to close to $4000 per year.
Republican opponents to Barack Obama’s cap-and-trade policy claimed that the costs passed along to the energy consumer would eventually amount to about $3100 a year, calling this a tax by other means. Proponents scoffed at the suggestion, claiming that the actual cost would be less than a tenth of that amount. They cited John Reilly, an MIT professor who claimed that the GOP lied about the study he conducted in order to concoct that number — and organizations from newspapers to Think Progress to MS-NBC and even the Wall Street Journal used his statement to call Republicans liars for the last several weeks.
They may have to eat those words. Professor Reilly has rechecked his figures, and now he says that not only were the Republicans right after all, they actually underestimated the costs to the consumer.
Read the whole thing. The average American family has an income of about $40,000 per year. Obama’s plan will result in a drop in that income of approximately 10% per year. And it’ll be all for nothing. Obama’s plan probably won’t reduce carbon emissions. And it won’t matter if it does or not anyway, since global warming doesn’t actually exist. Why should the average family in this country be forced to endure a 10% drop in their income, and the resulting decrease in their standard of living, to pay for this completely worthless Obama plan?
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