Beam me to Planet Gore !
Posted on 06/28/2009 4:35:37 AM PDT by Kaslin
The House just passed the Waxman-Markey cap-and-trade carbon emissions control act. If it passes the Senate, expect the president — the bill’s pusher-in-chief — to sign it at first opportunity.
I have not read the bill, so I should not comment on it at length. But then, neither has any congressman read the now 1000-pages-and-plus wonder. So they should not have passed it.
We are supposed to believe it is a good bill because we must trust the congressional assistants who wrote it. If anything is a testament to “the power of belief” it's the enthusiasm for a bill that has not been read, much less understood.
One thing is certain: The cap-and-trade program will increase the cost of energy in the United States. It is essentially a big, fat tax increase on businesses and consumers . . . in the face of which, businesses and consumers will decrease activity, depressing the economy.
The White House and congressional leaders say the bill will create new “green” jobs. But increasing the cost of doing business does not spur employment in general. It will likely increase pressure to build plants and factories outside the U.S., and even the specific jobs created by such mandates tend to come at the expense of other jobs.
The most astute commentary on the bill, so far, rests on a comparison between today's darkening days and the darker days of the Great Depression, when that day's Congress and president rushed through the Smoot-Hawley Tariff . . . thereby digging the depression deeper, marching America into a scary, institution-threatening poverty that only ended in the aftermath of World War II.
Back in 1930, general political wisdom had it that protectionism protected the whole economy. There was scant evidence for this. From Adam Smith on, the studied understanding of protectionism was that it helped some (generally richer) people at the expense of other (generally poorer) folks.
But protectionism did make a plausible surface sense, like the minimum wage does to so many, today. And remember, in those days of yore, economists had not yet been bought off by the lure of state power and the allure of political prestige, so, almost to a man, they opposed the bill.
Then and now, politicians hate listening to economists when it comes to resisting the in-crowd wisdom. Skepticism about protectionism? How un-American! Lincoln was for trade restrictions and the protective tariff! How dare you oppose Lincoln?
Just so, Democrats, today, think it bad form to be skeptical of Al Gore’s trendy hysteria. Besides, he does have an awful lot of scientists on his side.
Indeed, the president and his new guard love to talk of “science” as if the pronouncements of scientists were utterly immune from political pressure and economic enticement. The fact that those scientists are generally paid for with tax-supported research grants doesn’t faze today's political leaders. And yet how many of the president's men — or the current Congress — would buy the science supported by tobacco companies? How many would hesitate to dismiss science paid for by oil companies?
The double standard regarding the misapplication of science still leans to favor those who like to do “great things” in government, leaning the other way from those who proceed cautiously regarding intrusive regulation, taxation, and prohibitions.
We witnessed this in the 20th century. Think of all those economists who pretended they could guide the economy. Now we may be witnessing it in scientists who have pushed the Waxman-Markey monstrosity.
The parallels here are striking. Today's leaders in economics and finance, until about nine months ago, confidently thought they could predict the future and manage the economy and banish risk with an elaborate mathematical and statistical arsenal.
Just so do today's climate scientists aim to model the long-term trends of the global ecosystem. They pretend they can predict where the “tipping points” are, and tell us why, with an air of bracing certainty, we must stop increasing CO2 atmospheric production immediately.
In a mere decade, we have witnessed two financial bubbles, the tech bubble and the housing finance collapse. What's the next bubble to expand only to burst? Columnist Steve Christ thinks that the Waxman-Markey regime would create a cap-and-trade bubble.
For that to happen, we would need a compliant Federal Reserve, hell-bent on pumping up the funds to feed it. Alas, Ben Bernanke, fearing a Greater Depression, will likely prove more than willing.
But the next bubble to burst may be far more salutary. In a few years enough data may build up, at long last, to prick the climate catastrophism bubble. By this I mean “the science” of panicky predictions. Yes, “global warming” may soon become an international embarrassment. And then we will witness a whole lot of experts skulking off to write their next research grant proposal in a well-deserved ignominy.
I just hope this happens in time for a new Congress to repeal Waxman-Markey -- before its most burdensome caps kick in, ensuring a long, ugly life to our deepening depression.
The whole thing is a huge sham.
It’s nothing more or less than a Tax scheme to fund the government and keep those transfers of money pumping to foreign entities who will continue to buy GSEs and Treasuries.
The same this applies to the Health Care Reform debacle. It does nothing to provide universality to access, but more taxation upon benefits. The government needs the revenue stream into its coffers for funding.
I’m waiting for the next Taxing scheme to emerge.
Cap and Trade won’t die in the Senate. I fully expect it to pass. If anything, the behemoth now calling itself the Federal Government is ravishing the public and devouring every bit of cash it can and will tax us to death.
We voters should demand that our elected officials should certify that they personally read the proposed legislation in its entirety before the vote on it. If one falsely certified that the legislation was read in its entirety, they should be summarily removed from office.
I find this whole thing sickening.
This is, indeed, a tax increase— more like a national sales tax than an income tax. Only thing is: it is much higher than the 10% national sales tax that Rahm’s brother proposed a few weeks ago...
hh
With the democrats in the majority it will definitely pass, especially if some of the RINOS will go along with with the rats
Their excuse seems to be: I don't need to read no stinking bill.
The proposed bill won’t become effective until 2012. The timing is obvious.
Is there a thread somewhere on FR that lists all of the worst parts of this bill?
I have lost confidence in the “United States” government. I implore the state legislatures to begin drafting articles of secession. I would also hope some states would “Confederate”. Every state would be better off being a separate nation at this point.
I would love to know who all the folks are who wrote this monster. I bet their average age is 22.
Evidently it's also going to dramatically increase the price of postage because the chosen one has said it will only cost individuals the equivalent of the price of a postage stamp per day.
At about $3,600 a year that means a postage stamp will have to cost Almost $10.00...
I think liberals have difficulties reading and comprehending comic books.
We must trust the congressional assistants who wrote it,what is this the game show who do you trust or a government issue.
Video of Boehner’s speech of the amendment overview is here:
http://newsbusters.org/blogs/noel-sheppard/2009/06/27/boehners-amazing-dissection-cap-trade-bill
I read the transcript on the Thomas site - truly chilling...
I’ve been watching Boehner’s speech on YouTube for the last 2 days as time allowed. There’s got to be a lot more in this bill that needs to be listed in bullet point manner so FReepers can tell others about it.
I have yet to see anyone here at work or on the street who even knows that this is going on. And what it’s going to hurt like to them.
Is there a thread somewhere on FR that lists all of the worst parts of this bill?I've posted parts and links on a few threads over the past few days. But, this *thing* has changed so many times I've almost lost count. It started off at 932 pages long. The last change was right before it was voted on, nice trick.
Anyway go to THOMAS.gov and search for Bill HR 2454, then select the latest version, 'as amended'. I'd open the GPO .pdf version, its easier to read and search for specific terms,its 1201 pages long (or was).
BTW: This *thing* is more than just about 'higher electric bills'. It mandates New National Building Codes and new Standards for all equipment that goes in a building (Commercial and residential) and even gets into new standards for all appliances, and even 'Lamps with Cords'. It also has 'newer' requirements for ... Toilets and Shower Heads! (dam you Al Gore)
It also has a section with a 'blueprint' for new little communes where we all walk to work (cars are EVIL). Houses will be built around a central business district.
(this *thing* isn't about energy, it's about CONTROL. It's Communism at its finest!)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.