US climate bill equivalent to 15% income tax hike
Just so you know what you have to look forward to when Rudd's ETS becomes law. It looks like the US agencies have been "economical with the truth" about the cost of the US climate bill to households. Why would that be? Maybe because if they were honest about it, it wouldn't have a chance of being passed [Sounds like the ETS - Ed]:
Big difference? That's a humongous difference. I wonder how big the gap between Rudd's spin and reality is here in Australia? Hopefully, if the ETS sinks, we will never have to find out.
Read it here.
Documents (link to PDF) obtained from the U.S. Treasury under the Freedom of Information Act by the free-market Competitive Enterprise Institute were released on Tuesday.
The U.S. Treasury Department admits that a “cap and trade” system for regulating greenhouse gas emissions could cost every household $1,761 a year. According to the CBS News story, “the equivalent of hiking personal income taxes by about 15 percent”.
This comes in way over claims that the EIA says:
The Climate Bill Will Cost You Just 23¢ a Day, EIA Analysis Shows. This works out to $83.95 per year. Big difference.
Big difference? That's a humongous difference. I wonder how big the gap between Rudd's spin and reality is here in Australia? Hopefully, if the ETS sinks, we will never have to find out.
Read it here.
posted by Simon from Sydney at
7:53 AM
1 Comments:
From a commenter at WuWT...
"...Here’s a surprise for those overseas who may not watch the US political system too closely – I’m betting that the Senate never bothers to even put together a bill that they can vote on. Too contentious, too dangerous for too many Senator’s re-election chances.
And the best part is that if US efforts fall apart, (they will) then everyone else in the world who’s facing hard choices will take that as a cue and their efforts will fall apart too.
Copenhagen could easily turn out to be a sad joke..."
And signs from the Chinese that they will not be able to meet their carbon reductions target...
http://www.reuters.com/article/latestCrisis/idUSLG396019
By
Ayrdale, At
September 17, 2009 at 11:21 AM
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