Monday, July 06, 2009

How Much?

According to a story in the Hartford Courant, the state’s US House delegation, all Democrats, voted in favor of climate change legislation that will increase the average American family’s yearly expenses by $1,500. The federal congressional budget office and the US Environmental Protection Agency estimate the yearly rise at $80 - $175 per year.

Asked to clarify the gap between the widely divergent estimates, spokesman for United Illuminating Al Carbone said "From our initial review, we don't think it's going to decrease rates. Let's put it that way.”

Let's put it this way: All regulations involve hidden costs passed along to consumers in the form of price increases. In this way regulatory costs are like business taxes, and business taxes passed along to consumers are destimulants.

What the government gives with the right hand it takes away with the left, leaving taxpayers, to quote an old saw, "holding the bag."
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