Are you ready for a 15% tax increase?
It looks like the "cap and trade" energy bill approved by the House could end up costing each American family an average of $1,761 each year, which translates into a tax of 15%. You might be thinking that this is just a conservative exaggeration, but it isn't. This number is from a recently released analysis done by the Treasury, and even the most optimistic Democrats say is will cost $800 per year.
So, how will families afford this extra energy expense? If you work every day and make responsible decisions, you will be responsible for the entire amount. There is the possibility of tax credits to off-set part of the increase for low-income households. Translation: You will be paying more for your energy, and also picking up part of the tab for your neighbor. Isn't that great news to hear while we're in a recession?
So, how will families afford this extra energy expense? If you work every day and make responsible decisions, you will be responsible for the entire amount. There is the possibility of tax credits to off-set part of the increase for low-income households. Translation: You will be paying more for your energy, and also picking up part of the tab for your neighbor. Isn't that great news to hear while we're in a recession?




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