Cost of Carbon Tax

A TWO-TRILLION DOLLAR MISTAKE?

"In a briefing to U.S. Senate staffers recently, an Obama administration representative put the figure at a whopping $1.9 trillion."

"The Tax Foundation, a Washington, D.C. tax policy think tank, recently completed an analysis of the potential impact of “cap and trade” legislation. Its findings are eye-opening:"

“In total, households would face an annual burden of roughly $144.8 billion per year with costs disproportionately borne by low-income households, those under 25 and over 75 years, those in southern states, and single parents with dependent children…. Depending on how the system is structured, cap and trade could reduce U.S. employment by 965,000 jobs, household earnings by $37.8 billion, and economic output by $136 billion per year or roughly $1,145 per household."