The Daily Caller:
President Obama’s global warming plan would cost
America’s poorest families billions annually, according to a report
published Thursday by the Manhattan Institute.
The study estimates that Obama’s global warming plan would increase
the costs of living for the poorest American families an additional $19
billion per year, equivalent to increasing their taxes by 166 percent.
The tax increase would also raise taxes on other poor families by an
extra $25 billion, equal to a 33 percent tax increase. Living costs for
the richest households would only increase by 4 percent.
Obama wants to implement the Enviromental Protection Agency’s Clean
Power Plan, which would effectively tax four-fifths of American carbon
dioxide (CO2) emissions and be similar in scope to an economy-wide
carbon tax. In addition, Obama has proposed a $10.25-per-barrel oil tax.
Neither plan would have a large impact on global warming. Data
modeling created by the EPA and run by the libertarian Cato Institute
shows that the Clean Power Plan would only have adverted 0.019° Celsius
of warming by the year 2100, an amount so small it couldn’t be detected.
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