by boss
How much will Cap and Trade cost you?
If you have been wondering what the new Cap and Trade policy will mean to your bottom line. The Tax Foundation has released a tax calculator to show you the extra cost.
Washington, DC, June 4, 2009 – Americans can now estimate how much a U.S. cap-and-trade system would cost their individual households annually with the Tax Foundation’s new Household Cap-and-Trade Burden Calculator. The calculator can be found at http://www.taxfoundation.org/capandtrade.
The 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.
Read the rest of the article at taxfoundation.org/press/show/24750.html
