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February 27, 2009
'Cap and trade' a hidden tax on the middle class (Updated)
Topics: Political News and commentariesIn our previous post on Obama's budget we noted that the middle class should get ready for a tax hike regardless of what Obama is now saying. That was on the basis of Obama's stated tax hike on the rich, but it turns out that there's another hit on our income coming down the pike - "Obama's call to combat global warming with a "cap-and-trade" system for reducing carbon emissions from power plants and other industrial facilities." As top House Republican, Rep. John Boehner of Ohio said, ""it would increase taxes "on all Americans who drive a car, who have a job, who turn on a light switch.""
Related: Phantom Savings, Backdoor Tax Hikes
Posted by Hyscience at February 27, 2009 9:29 AM
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- 'Cap and trade' a hidden tax on the middle class (Updated) - Feb 27, 2009
