Wednesday, March 18, 2009

Cap-n-Trade: A Massive Tax Hike On The Way

So, the bill for Obama’s Cap-n-Trade climate scheme has increased from $646 billion to close to $2 trillion. Safe to say, nobody really knows how much this is going to cost, either in terms of the tax revenue, or in the economic loss associated with crippling our economy.

The only real appeal of cap and trade schemes is that it gives the government increased control over the economy and raises government revenues in a convoluted way so that us rubes don’t make the connection that we’re being taxed.

So, spare me the reproaches that it’s not a tax – the government is mandating a change in business practice that generates revenue for the government. The government also controls who gets a cut of the money. Certainly sounds like a tax.

This will likely have the added bonus of closing down any bit of economic activity that relies on coal generated electricity, and energy costs are going to increase dramatically. Sure, the government will rebate some of the swag to the lower classes.

Keep in mind that the Democratic party regards making more people dependent on government as a feature, not a bug.