Monday, March 9, 2009

Cap And Trade, Part Two

If you do not use electric light, store food in a freezer or refrigerator, or drive a car to a job, then there is nothing to worry about. Everyone else, however, will be hit in their pocket book in the back-end of this deal.

Hit hardest would be the "95% of working families" Mr. Obama keeps mentioning, usually omitting that his no-new-taxes pledge comes with the caveat "unless you use energy." Putting a price on carbon is regressive by definition because poor and middle-income households spend more of their paychecks on things like gas to drive to work, groceries or home heating.

It's a make believe tax that hits producers and manufacturers that will pass the cost down the line. It won't stop supposed global warming anymore than a property tax on Neverland will help to fix local roads.

More talk about Cap and Trade here and here.

Thank you, Stacy, for the FMJRA.

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