Cap and Trade: Increases Taxes/Decreases Jobs

Via Memeorandum:

The latest word from the CBO on Cap and Trade is not going to make the White House happy:

A House-passed bill that targets climate change through a cap-and-trade
system of pollution credits would slow the nation's economic growth slightly
over the next few decades and would create "significant" job losses from fossil
fuel industries as the country shifts to renewable energy, the head of the
Congressional Budget Office told a Senate energy panel Wednesday.

CBO Director Douglas W. Elmendorf emphasized that his estimates
contained significant uncertainties and "do not include any benefits from
averting climate change," but his message nevertheless contrasted sharply with
those of President Obama and congressional Democratic leaders, who have
suggested that a cap on carbon emissions would help revive the U.S. economy.

Considering that we don’t even know if there are “any benefits from averting climate change” I think that reasonable people should agree that now is not the time to send our economy even further in the tank over an unknown.

What we do know, in addition to Cap and Trade being a job killer, is that it will foist a huge tax on every American and that every American family will be forced to pay more for every good and service they purchase.

Progressives don’t care about the effects of their ideology on American families. Their “let them eat cake” attitude belies their claims of caring for the little guy. Cap and Trade will hurt the citizens who can least afford it. Congress should shelve it and concentrate on getting our economy back on track.

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