Free Markets, Free People

Quote Of The Day

From a commenter on Arnold Kling’s Atlantic site, one of the more succinct summaries of what Waxman-Markey really is:

‘Cap and Tax’ simply provides more opportunities for political favoritism — creating arbitrary credits to be awarded to pet projects while getting others to pay for the favors. Meanwhile the energy expense baseline of the entire economy goes up. Waxman-Markey are gushing about how historic this bill is. That it is — it puts Smoot-Hawley in second place as potentially the most misguided economic legislation of the last 100 years.

Take the time to read Kling’s post as well.

If you’re wondering who will be paying “for the favors”, Conor Clarke at the Atlantic has been kind enough to put that in chart form using the CBO’s data on tax distribution:

cap and trade share by income

But remember you 95% out there – your taxes won’t go up by a single dime – not one dime. Your fuel, electric, transportation, food and just about anything else you can imagine? Dimes won’t even begin to describe the increases you’ll see.

~McQ

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2 Responses to Quote Of The Day

  • This is nothing but a VAT tax in green clothing.

  • I have sent e-mailed letters to all eight Republicans in the House who voted for this CRAP AND TRADE tax garbage, posing as a constituent in their district, telling them that me, my family and my friends will now proceed to throw them out of office for their treachery.

    I heard that Republicans chanted after the CRAP AND TRADE passed that 50 Democrats who voted for it just lost their seats. I hope that that is true; I also hope that the eight Republicans who voted for this lose in the primaries or have their seats switch as well.

    Good riddance to crap. Good riddance to treachery. Out with those who side with The Clown™ in 2009, 2010, and, then, out with The Clown™ in 2012.