Dems Admit Cap-and-Trade Tax Will Reduce Purchasing Power

Hall of Record has a summary of the Cap-and-Tax bill that the Dems are pushing. I find this section particularly interesting:

Requires: (1) the Administrator to implement the Energy Refund Program to give low-income households a monthly cash energy refund equal to the estimated loss in purchasing power resulting from this Act;

So Democrats admit that this bill will severely reduce purchasing power (read: income) for all Americans. But if you're fortunate enough to be one of Obama's chosen welfare people, you get a check to cover this amount (another income redistribution program).

Disaster - and Obama lovers couldn't care less.

*Update*
Greenpeace is opposed because it will do nothing to curb global warming. Hmm.