So much for the early estimates on cap-and-trade legislation.  Turns out the figures will be much higher for every American household.  An MIT study puts the estimate at $800 per year in economic losses, and a cost of $3,100 per year in taxes for every American household.

David Hone, a blogger for Shell interviewed John Reilly of MIT (see below).  I have yet to see any of the networks reference this, but hey!  Why start now?  They’re saving the world, right?  Most states are coming off the coldest winter they’ve seen in years, North Dakota just had its first June snowfall in decades, and economy is sliding downhill at an increasingly rapid rate.  And yet the national media is excited that every American family will soon be $3,900 poorer because of a legislative action that will not actually do anything to reduce so-called greenhouse gases.

As Australian lawmakers and the late author Michael Crichton have put it, global warming truly is a false gospel.  The messianic taskmasters are set to begin collecting their tithes at the point of a bayonet.

Technorati Tags: Cap and Trade, David Hone, Economic Depression, Media Bias, MIT study

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Tags: Cap and Trade, David Hone, Economic Depression, Media Bias, MIT study

This entry was posted on Sunday, June 28th, 2009 at 10:49 pm and is filed under Media Bias. You can follow any responses to this entry through the RSS 2.0 feed.