As the media fixates on the death of Michael Jackson, Congress stands ready to enact the largest and most regressive tax hike in history in the guise of “cap-and-trade.” Jim Lindgren explains why this bill is so dangerous:
The cap-and-trade bill, if passed by the Senate and actually implemented over the next few decades, would do more damage to the country than any economic legislation passed in at least 100 years. It would eventually send most American manufacturing jobs overseas, reduce American competitiveness, and make Americans much poorer than they would have been without it.
The cap-and-trade bill will have little, if any, positive effect on the environment — in part because the countries that would take jobs from US industries tend to be bigger polluters. By making the US — and the world — poorer, it would probably reduce the world’s ability to develop technologies that might solve its environmental problems in the future.
Cap-and-trade is a joke—it is a policy that has already failed in Europe and in virtually guaranteed to fail here in the United States. By giving in to the demands of radical environmentalists, Congress is preparing to take our current recession and plunge it into depression.
As the media focuses once again on celebrity, the advent of the next Great Depression comes closer. Cap-and-trade is terrible policy enacted for foolish reasons, and we will all pay the price for it if we allow it to pass.