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.