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Fiscal Policy &Junk Science &Tea Parties Richard Falknor on 25 Jun 2009 12:01 pm

Tea Party Topics: Cap-and-Trade Is Biggest Tax Hike Ever

UPDATES JUNE 26! Here is today’s Republican Study Committee “Legislative Bulletin” on the “The American Clean Energy and Security Act or more commonly ‘Cap & Tax’ or ‘National Energy Tax.'”  Here is today’s Heritage Foundation’s “Morning Bell: Waxman-Markey Bill Is An Energy Tax That Doesn’t Work.”

Tea Party Topics: Cap-and-Trade Is Biggest Tax Hike Ever

The Washington Post’s Steven Mufson reported yesterday in “Vote Set on House Climate Bill: Cap-and-Trade Legislation Advances Despite Some Resistance” that the House of Representatives Democrat leadership scheduled a vote tomorrow on the horrific measure known as Waxman-Markey (“American Clean Energy and Security Act of 2009”).

Henry Waxman and Ed Markey are the the two House committee chairmen who fathered the mega-tax proposal.

Why Not Waxman-Markey?

The Competitive Enterprise Institute’s Myron Ebell has cogently summed up the case against Waxman-Markey – –

“The Waxman-Markey bill would set many records: the biggest tax increase in history; the biggest government interference in the people’s lives since the Second World War; the biggest transfer of wealth from consumers to special interests in American history; the biggest opportunity for corruption and manipulation by Wall Street traders ever created. It would cause consumer energy prices to go up relentlessly for decades, create some jobs while destroying millions of jobs, and produce perpetual economic stagnation. (Underscoring Forum’s.)

‘Porkfest’ for Crony Capitalists

The Waxman-Markey bill also represents a classic case of crony capitalism – – which is why some members may be vulnerable to the blandishments of the bill’s proponents.

Tim Carney in the Washington Examiner last month explained in his “Global warming bill becomes another Washington porkfest” how this works here. And the Heritage Foundation’s Nicolas Loris and Ben Lieberman reveal here in their “Cap and Trade: A Handout for Corporations and a Huge Tax on Consumers” – –

“When there is money on the table with big government programs, lobbying by special interests is inevitable. Politics governed by special interests typically makes things worse for the consumer, and cap and trade is no exception. Approximately 2,340 energy lobbyists worked on the cap-and-trade bill . . . to lower costs for their clients–i.e., utilities and other industries. That leaves consumers to bear the entire cost of the price increases required to meet CO2 targets; meanwhile, industry gets a free windfall.”(Underscoring Forum’s.)

Whether or not the House approves Waxman-Markey tomorrow and whether the Senate follows suit, the measure, in some permutation, will continue to menace our prosperity and our freedom.  Readers can stay current from hour to hour by following Climate Depot here.

The League of Conservation Voters Shakes Its Fist

Steve Milloy publisher of Junk Science reports today here

“The League of Conservation Voters issued the following ‘unprecedented’ threat to Congress on June 23:

In light of the tremendous importance of this legislation, LCV has made the unprecendented decision that we will not endorse any member of the House of Representatives in the 2010 election cycle who votes against this historic bill.” (Underscoring Forum’s.)

Yet this largest tax hike in history, if enacted, will cause, in the words of the Heritage Foundation, “Higher Taxes and Economic Devastation in Return for … Nothing?”

Coming Tea Parties in Maryland and Virginia may well wish to highlight the Green Poverty and the likely Liberty Loss that will ensue from enactment of Waxman-Markey or similar measures.

Don’t miss Heritage’s calculation of the economic impact of Waxman-Markey on families and the economy by Congressional district.


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