Tuesday, May 19, 2009

Waxman and Socialist Democrats pushing another tax increase - Cap and Trade and Tax

Yet another tax from Obama and the Socialist Democrats:

Here are the findings from the Heritage Foundation -- Waxman's "environmental" bill would:
  • Reduce aggregate gross domestic product (GDP) by $9.6 trillion
  • Destroy 1,105,000 jobs on average, with peak years seeing unemployment rise by over 2,479,000 jobs
  • Raise electricity rates 90 percent after adjusting for inflation
  • Raise inflation-adjusted gasoline prices by 74 percent
  • Raise residential natural gas prices by 55 percent
  • Raise an average family's annual energy bill by $1,500
  • Increase inflation-adjusted federal debt by 26 percent, or $29,150 additional federal debt per person, again after adjusting for inflation.


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