"The fuse that led directly to the explosion of American independence was lit."

Colonialists attack, tar and feather a hapless tax collector

The colonies refused to pay the levies required by the Townsend Acts claiming they had no obligation to pay taxes imposed by a Parliament in which they had no representation. In response, Parliament retracted the taxes with the exception of a duty on tea - a demonstration of Parliament's [read congress] ability and right to tax the colonies. In May of 1773 Parliament concocted a clever plan. They gave the struggling East India Company a monopoly on the importation of tea to America. Additionally, Parliament reduced the duty the colonies would have to pay for the imported tea. The Americans would now get their tea at a cheaper price than ever before. However, if the colonies paid the duty tax on the imported tea they would be acknowledging Parliament's right to tax them. Tea was a staple of colonial life - it was assumed that the colonists would rather pay the tax than deny themselves the pleasure of a cup of tea.

The colonists were not fooled by Parliament's ploy. When the East India Company sent shipments of tea to Philadelphia and New York the ships were not allowed to land. In Charleston the tea-laden ships were permitted to dock but their cargo was consigned to a warehouse where it remained for three years until it was sold by patriots in order to help finance the revolution.    MORE

According to an article by Jillian Bandes of TownHall.com:

A new study released by the Tax Foundation details just how regressive the proposed cap-and-trade legislation will be on American families, a plan the Obama administration hopes to implement by the end of the year. According to the Tax Foundation, the bottom 20% of income earners would pay 6.2% of their income towards the tax, while the top 20% of income earners will pay 1.4%.

Using the newly-released 2002 input-output accounts we present new estimates of the distributional impact of a typical cap-and-trade system by income, age, U.S. region and family type. In total, households would face an annual burden of roughly $144.8 billion per year with costs disproportionately borne by low-income households, those under age 25 and over 75 years, those in Southern states, and single parents with dependent children. Using RIMS II multipliers we estimate the broader economic impact of cap and trade. Depending on how the system is structured, cap and trade could reduce U.S. employment by 965,000 jobs, household earnings by $37.8 billion, and economic output by $136 billion per year or roughly $1,145 per household. Lawmakers weighing the costs and benefits of climate policy should be aware that cap and trade would impose a significant and regressive annual burden on U.S. households, and would not represent a “tax free” way to reduce greenhouse gas emissions.