From Icecap - Blog devoted to focus on Global Warming. Links to article in US News & World Report
Obama's $646 Billion Cap-And-Trade Green Tax
By James Pethokoukis, US News
As I see it, the most important single item in President Obama’s budget is his commitment to a cap-and-trade plan (to limit and reduce carbon emissions). It represents nothing less than an absolutely breath-taking attempt at reengineering the entire American economy. The White House expects the system will begin generating revenue for the government in 2012. By auctioning off carbon permits, the White expects the plan to bring some $80 billion a year between from 2012 to 2019.