But we didn’t call it a tax, you see.

Under Waxman-Markey, the economic pain would be severe, indeed. President Obama’s own aides have admitted that it could cost hardworking Americans up to $2 trillion. The burden, moreover, would fall disproportionately on the poor, who spend a greater proportion of their income on energy - 26 percent compared to a median-income family that spends 4 percent of its earnings on energy. It would also affect the South and Midwest much more than the West Coast and Northeast. In fact, the effect would be a wealth transfer from the South and Midwest to the West Coast and Northeast.

washingtontimes.com