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May 19, 2009

Malkin: Obama's $1,300 car tax

Topics: Political News and commentaries

From Michelle Malkin, comes a call for some "Cheerios-level truth-in-labeling" on President Obama's risky $1,300 car tax:

Nobody in the White House is going to call the president's "mileage and pollution" plan what it is.

It's a $1,300 car tax. On the working class. On the middle class. On everyone who has responded to the government's consumption-mania incentives -- loosened credit, tax deductions -- and bought/planned to buy a new car without taking into account these unanticipated costs:

President Barack Obama wants drivers to go farther on a gallon of gas and cause less damage to the environment -- and be willing to pick up the tab.

Obama on Tuesday planned to announce the first-ever national emissions limits for cars and trucks, as well as require a 35.5 miles per gallon standard. Consumers should expect to pay an extra $1,300 per vehicle by the time the plan is complete in 2016, officials said...

...Administration officials said consumers were going to pay an extra $700 for mileage standards that had already been approved. The comprehensive Obama plan would add another $600 to the price of a vehicle, a senior administration official said.

The extra miles would come at roughly a 5 percent increase each year. By the time the plan takes full effect, at the end of 2016, new vehicles would cost an extra $1,300.

That official said the cost would be recovered through savings at the pump for consumers who choose a standard 60-month car loan and if gas prices follow government projections.

Read Michelle's commentary here.

The costs to every American for having Barack Obama in the White House are adding up fast(and we haven't even gotten to his universal health care plan yet) - and not just for those making over $250K. The middle class and the poor are going to be the hardest hit.

Posted by Hyscience at May 19, 2009 7:39 AM

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