Obama’s Global Warming Plan Cost Poor Americans $44 Billion, Raises Taxes By 166%

obamaPresident 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.

“The greatest tragedy of the Democrats’ climate agenda is not how little it will accomplish but rather how costly it will be for those least able to afford it,” Oren Cass, a senior fellow at the Manhattan Institute who authored the study, told The Daily Caller News Foundation.

The study determined that taxing CO2 emissions or gasoline inherently hurts the poor more than the rich because the lowest-income U.S. households spend roughly 35 percent of their annual income on energy, while the highest income households spent less than 3 percent of their income on energy.

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  • Avatar

    JayPee

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    Proof positive of how much any smelly democrat actually cares about the poor, the unfortunate, minorities or anyone who can be depended upon to automatically and robotically vote for them.

    Yes, they care nothing about the people who actually make their existence and success possible.

    This has been the history of the Communist Party USA since Woodrow Wilson and there are still plenty of stupid idiots who gleefully buy into it.

    Reply

  • Avatar

    David Lewis

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    One thing to be aware of is the tool liberals use to sell plans that impact the poor and elderly is saying that their additional costs will be subsidized. There are two problems with this.

    Often such plans do not materialize, or are inadequate, or for one reason other another many of the poor and elderly would not qualify. My father is 91, spends 25% of his income on electricity, and probably wouldn’t qualify because he owns too much land which is a cherished family heritage.

    The bigger flaw in the plan is subsidizes, if they exist, are always, without exception, paid for by the middle class. So in addition to paying for the increased cost of energy for ourselves, we would also pay for the increased costs for others. Many middles class families are really struggling and can not afford this.

    Reply

  • Avatar

    Amber

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    Can’t wait for the Democrats to announce they want Americans to change the worlds temperature by at best a fraction of one degree and all citizens have to do is fork over a 166 % tax increase .
    So this is the party that looks after people ?
    How many fuel poverty deaths in the USA are the Democrats prepared to cause ? Europe is at around 40,000 per year now as result of their foolish ventures into tax payer subsidized
    goofy global warming policies . At least Europe iis slamming those policies into reverse before they inflict more completely avoidable casualties .
    The 20 AG’ s looking to silence debate and freedom of speech have no doubt calculated or been told what the annual death count will look like and will obviously be sharing that information with the public as they pursue their witch hunt .
    Are 50,000 deaths per year from fuel poverty
    considered just a small cost of stopping climate fever ? Perhaps they tie nicely with the depopulation strategies of Obama henchmen .

    Reply

  • Avatar

    Amber

    |

    Can’t wait for the Democrats to announce they want Americans to change the worlds temperature by at best a fraction of one degree and all citizens have to do is fork over a 166 % tax increase .
    So this is the party that looks after people ?
    How many fuel poverty deaths in the USA are the Democrats prepared to cause ? Europe is at around 40,000 per year now as result of their foolish ventures into tax payer subsidized
    goofy global warming policies . At least Europe iis slamming those policies into reverse before they inflict more completely avoidable casualties .
    The 20 AG’ s looking to silence debate and freedom of speech have no doubt calculated or been told what the annual death count will look like and will obviously be sharing that information with the public as they pursue their witch hunt .
    Are 50,000 deaths per year from fuel poverty
    considered just a small cost of stopping climate fever ? Perhaps they tie nicely with the depopulation strategies of Obama henchmen .

    Reply

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