A new study has found that Obama’s plan to deal with global warming or climate change as it’s now called, will cause the greatest financial burden for America’s poorest people.
The Daily Caller reports:
Obama’s Global Warming Plan Cost Poor Americans $44 Billion, Raises Taxes By 166%
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.
Liberal policies rarely affect people like Leonardo DiCaprio and other wealthy environmental activists.
The people who pay the most dearly are America’s hardest working people.
Keep that in mind the next time Obama, Hillary, Bernie or any other progressive says they care about the poor or the middle class.