The Cap-and-Trade Bill Is an Economic Disaster

Investor's Business Daily ^ | 6/26/2009

[SeekAndFind]

Fiscal Policy: The House of Representatives is preparing to vote on an anti-stimulus package that in the name of saving the earth will destroy the American economy. Smoot-Hawley will seem like a speed bump.

Not since a misguided piece of legislation imposed tariffs that turned a recession into a depression has there been a piece of legislation as bad as Waxman-Markey.

The 1,000-plus-page American Clean Energy and Security Act (H.R. 2454) is being rushed to a vote by House Speaker Nancy Pelosi before anyone can seriously object to this economic suicide pact.

It's what Janet Napolitano, secretary of Homeland Security, might call a "man-caused disaster," a phrase she coined to replace the politically incorrect "terrorist attack." But no terrorist could ever dream of inflicting as much damage as this bill.

Its centerpiece is a "cap and trade" provision that has been rightfully derided as "cap and tax." It is in fact a tax on energy everywhere it is consumed on everything it is used to make or provide.

It is the largest tax increase in American history — a tax on all Americans — even the 95% that President Obama pledged would never see a tax increase.

It's a political bill that could come to a vote now that a deal was struck with farm-state legislators concerned about the taxation of even bovine flatulence.

As part of the agreement reached Tuesday night and announced by Rep. Henry Waxman, D-Beverly Hills, agricultural oversight for cap-and-trade was transferred from the Environmental Protection Agency to the U.S. Department of Agriculture.

Farmers hope the USDA will be less intrusive. The EPA has been tasked by a Supreme Court ruling to regulate greenhouse gas emissions from your nostrils to your lawn mower. This even covers the emissions of barnyard animals, including the methane from cows.

[Master of Orion]

In the five years since Congress last voted on climate change, there’s been a 300 percent increase in the number of climate lobbyists, according to the Center for Public Integrity. There are now more than 2,300 lobbyists from 770 companies and organizations — more than four lobbyists for every member of Congress.
And those lobbyists collected at least $90 million last year from 770 companies and organizations, including the American Coalition for Clean Coal Electricity, a group of 48 firms that spent a total of $9.95 million exclusively on the issue.

See link below for heavy hitters.

http://www.foxnews.com/politics/2009/03/12/heavy-hitters-sway-cap-and-trade/

[smokinleroy]

We could use some of that gloom here in N. TX. It is sunny, with not a cloud in the sky, and projected to reach 102 today.

[Freedom56v2]

Bump & call LOCAL offices of Congresscritters as Washington switchboard and emails may be full.

[kingpins10]

My Rep. here in Georgia is voting against it.

[Servant of the Cross]

It is said that politics is local. EVERY Republican candidate preparing to run against a sitting Democrat in Fall, 2010 (township, city, state and federal) should be vocally using this issue and this vote right now to declare war on such sitting Democrat if they vote for (or support) this 1,200 page monstrosity which clearly hasn’t been read, vetted or justified in any serious sense. The blue dog Dems and Dems recently elected from Red states or having run on conservative or fiscally responsible positions should be made to feel very scared of voting for this. A vote for this bill should be declared to be a cause for ouster from office in 2010. This issue sums up the very premise of the tea party gatherings. Make the fear of non re-election be greater for these Dems than the wrath of Pelosi.

[midmoschmo]

I built one this summer using 2x4’s and heavy clear paint covers. If you want a run down of how much it cost / time to build etc Ill send one over in pm.

[Fitzy_888]

Our Representative, un-representatively, states he doesn’t have a position according to his staff. (read that as for)

“Well, how about something less controversial, mustard or ketchup on they’re hot dog?”

[Fitzy_888]

It was 250 pages of sentimentality last week, 946 pages of economic destruction added over the weekend, and now it’s pushing 1,350 pages.

They want to pass this based on the sentiment, before they are confronted with the true 1,100 pages of implications.

The refrain is “we have to do something.” They want to be able to deny recognition of the destruction that will ensue. This is the urgency here.

[spectre]

Not to worry!! The Clean Energy Act includes a new, 52 week unemployment program. It’s called Climate Change Benefits.

Well, that should come as a small relief to The Coal Miners after Obama bankrupts the coal industry...as he promised he would.

sw

[2nd_Amendment_Defender]

I just called my Congressman and asked him to vote no on this piece of garbage legislation. The person who answered the phone told me he was going to vote no on it. I was happy to hear that.

[Jim Verdolini]

These 8 are the bought and paid for RINO’s who hauled this mess over the line

Bono Mack
Castle
Kirk
Lance
LoBiondo
McHugh
Reichert
Smith (NJ)

Vote for anyone who runs against these folk...

[Mamzelle]

re: Texas was a big loser. In fact ALL the States were losers except the west coast.)))

Lloyd Doggett VOTED FOR IT AFTER SAYING HE WAS GOING TO VOTE AGAINST IT. If you're a Texan, make sure any Texan who doesn't know that, learns it.

[2nd_Amendment_Defender]

Here is the voting record for this bill. I was highly disappointed to see it pass.

http://clerk.house.gov/evs/2009/roll477.xml