Taxes, taxes, taxes. So much for THAT promise.

Midknight Review - new and revised gives you a few of the taxes the 111th Congress has in mind. Understand that ALL energy taxes, whether levied on corporations or not, will ultimately be paid for by all Americans -- forget the $250,000 limitation. That restriction has nothing to do with heating and cooling costs or transportation fuels. Add to the mix the fact most present insurance owners will be paying around $80 to $200 a month more for their insurance coverage, in part, so that the looters and loafers of this country can be covered for no cost.

• $646 billion – new taxes by forcing a “cap-and-trade” tax on production emissions
• $175 billion – new taxes by forcing states into a renewable portfolio system
• $62 billion – new taxes on energy companies’ LIFO reserves
• $49 billion – new taxes by repealing the passive loss exception for oil and gas properties
• $17 billion – new taxes by reinstating the Superfund tax
• $13 billion – new taxes by repealing a domestic manufacturers’ tax deduction for energy companies
• $5 billon – new tax on 25 percent of total U.S. production of oil and 15 percent of gas
• $1 billion – new taxes by increasing the amortization period for certain energy costs to seven years