Editors' note: Declan responds to critiques of this post in a subsequent piece he wrote in his Taking Liberties blog at CBSNews.com: "Cap And Trade Redux: $1,761 Annually Per Family? Or Not?"
The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.
A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper … Read more