A new Tax Foundation calculator now shows how much a U.S. cap-and-trade system would cost individual households annually. The Tax Household Cap-and-Trade Burden Calculator is based upon a study released in March, Tax Foundation Working Paper No. 6, "Who Pays for Climate Policy? New Estimates of the Household Burden and Economic Impact of a U.S. Cap-and-Trade System." The study shows that a cap-and-trade system designed to reduce greenhouse gas emissions by 15 percent would place an annual burden of $144.8 billion on American households. The average annual household burden would be $1,218, which would be approximately 2% of the average household income.
Tuesday, June 23, 2009
How much will cap and trade cost you?
You can figure it out here, where the Tax Foundation figures it to be 2% of your annual income, regardless of how much "carbon" you actually emit (breathe, consume). Use the link at the bottom of the article to figure your family's "contribution." Read about it here:
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