Congressman Henry Waxman has capped his non-efforts on the
financial crisis and declining trade in this country with a “great idea” for
increasing revenue and averting the financial crisis: “Cap and Trade.” As Yogi
Bera once quipped: “This is déjà vu all over again.
In 2009, Waxman pushed this plan to curb carbon emissions on
industrial polluters (which includes farmers and their ‘fertilizing’ livestock).
Despite vote-trading, last minute 300-page amendments, and a close vote, Cap and
Trade survived the House. It died in the Senate.
The last thing that this country needs is a “Cap on Trade”,
which carbon trading will do. The same people who fomented the Dot.com and
Housing bubbles cooked up the pollution credit scheme, one which has frustrated
commerce and prosperity in Europe while forcing businesses out of California,
who cannot afford the inflated price for carbon permits. These taxes on corporations
eventually cost everyone who uses electricity, drives a car, or purchases food
in a store.
Instead of decent policies to reduce the national debt and
reform entitlements, Congressman Waxman has written letters about an oil rig in
the Gulf of Mexico. He released a statement in support of religious minorities
in Burma. He even pressed his Congressional colleagues to investigate the link
between global warming and national security.
The exploding national debt is our biggest national security
threat. Cap and Trade will make it worse. Congress should bust a cap on “Cap and
Trade”, and Waxman needs to bust a move on deficit reduction.
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