Cap & Trade

There is no doubt that the Obama administration, playing to the environmental community. seems to be convinced that they need to be "green." The problem is they do need to be green, just a different kind of green. they need to produce greenbacks that have value, and that means that there needs to be a cessation of the printing press operations as the Fed and a focus at Treasury to stimulate the private sector. That unfortunately is not the green strategy of this administration. Instead, what they want to do is impose an added regressive tax on all Americans that will increase their energy costs at a rate that will erode any value that the "stimulus" ( or as Limbaugh calls it the Porkulus) bill will provide.

It is incredible to me that they think that raising a carbon tax, during a recession makes sens, but it is clear that the lack of real economic education of Obama, coupled with his training by a Marxist Mother and father, have caused him to essentially ignore the relevance of the private sector.

All we can do is hope that the moderate (that is - not super left leaning) democrats in Congress will realize the folly of this idea.

Comments

[Ken]

Last estimate I saw on this massive tax increase is that it would be a brand new tax burden of approximately $3100/year for a typical family of four.

[CTF]

A cap and trade approach like the one President Obama supports is not the only way by which to reduce emissions and stem the tide of AGW. A revenue-neutral carbon tax is being vocally supported by a majority of leading economists, scientists and opinion leaders and is gaining steam among pols on both sides of the aisle. And in these economic times, a plan that reduces emissions, incentivizes the creation of “green” technologies AND returns the revenue to the people is a win-win.