RSSCap-and-trade – ‘Largest tax increase of all time’
Carolyn Hileman - The Voice | March 30, 2009
Is the carbon dioxide that humans exhale a public danger? Yes, according to the Environmental Protection Agency (EPA).
The EPA has released an endangerment finding on carbon dioxide. The finding will allow the gas to be regulated under the Clean Air Act, something the Act was not intended to do when it was enacted over 30 years ago. Aggressive cap-and-trade measures are being debated on Capitol Hill and, if enacted, are rumored to rake in trillions of dollars for the federal government and raise the cost of living for Americans by thousands of dollars.
Dan Simmons, the director of state affairs at the Institute for Energy Research, calls cap-and-trade the largest backdoor tax in U.S. history.
“In the budget it said $646 billion. They then are telling people on Capitol Hill that it is going to be $1.3 [trillion] to $1.9 trillion,” he points out. “That will make it the largest tax increase of all time of all American history and probably all world history.”
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