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All Da King's Men

Enough Already - Stop Cap-And-Trade

By Da King Published: June 28, 2009

“Whenever any form of government becomes destructive of these ends - life, liberty, and the pursuit of happiness, it is the right of the people to alter or abolish it, and to institute new government.” - Thomas Jefferson

Allow me to construct a hypothetical set of circumstances. Let's say our country was in the midst of a severe recession, that unemployment was rising rapidly as millions of jobs were being lost, that average people were having an increasingly difficult time getting by, that our industries were having a difficult time competing, that the value of the dollar was dropping, that we were up to our ears in debt......

Okay, that isn't hypothetical at all. That's what is actually happening.

Now, in response to this not-so-hypothetical set of crisis circumstances, what would you think of our government if it passed legislation that would bring about massive tax increases, that would make it even more difficult for our industries to compete, that would cause more job losses, that would raise energy costs dramatically, that would increase the price of practically every product consumers purchase, that would put the average person much further in the hole, and that wouldn't even provide the desired benefit of said legislation ???? (link)

I'd call that government destructive to the ends of life, liberty, and the pursuit of happiness. I'd want that government replaced for working against the interests of the American people. That's what I'm thinking today after the House of Representatives passed Cap-And-Trade legislation by a narrow vote of 219-212.

The Cap-and-Trade bill, also known as Waxman-Markey, also known as The American Clean Energy And Security Act, also known as the Let Them Eat Cake Act, is a 1,200 page monstrosity that nobody in the House had time to read, because the final version of the bill wasn't posted until the night before friday's vote, and a 300 page amendment was added at 3:00am on the day of the vote. I seem to remember President Obama saying something about having the most transparent administration EVAH !.......I guess Congress didn't get the memo on that, because they are operating like cat burglars in the dead of night.

Here's a quick rundown of the bad guys and the good guys in the House. The bad guys voting FOR the destruction of America included 211 Democrats and 8 Republicans. The good guys voting AGAINST destruction included 44 Democrats and 168 Republicans. You can find a complete vote tally here. I'd like to single out Dennis Kucinich (D-OH) for praise for standing against this bill. I've maligned Mr. Kucinich in the past, but I'm beginning to think I was wrong about him. He seems to be one of the few in the House who actually stands on his principles. That's noteworthy to me, even if I often disagree with him. The fact that 44 Democrats voted against this bill shows us that the Dems know Cap-And-Trade is a really bad idea, but lots of Democrats caved to pressure from the White House. El Presidente badly wants more control over all aspects of America, and this bill puts him in the express lane toward acquiring that control (but he believe in free markets ! lol).

"We've seen the example in Spain, it's a colossal mistake there, a political and an economic error. This could be the most colossal mistake ever made in the history of the United State Congress." - Congressman Steve King (R-IOWA).

I picked the above quote not only because a guy named King must be right, but because he mentioned Spain. What happened in Spain ?

Spain already implemented cap-and-trade, and has the most far-reaching renewable energy agenda in the European Union. The result ? Unemployment is at 18% in Spain (double the EU average), and there have been 2.2 jobs lost for every green job created. In addition, tons of subsidies are required for green energy initiatives to be competitive. The wind industry jobs created in Spain have come at a cost of $1.4 million PER JOB. (link)

Gee, who wouldn't want to emulate such "success" ???

But my favorite comment on the cap-and-trade legislation came from Minority Leader John Boehner (R-OH), who when asked why he spent an hour reading portions of the bill aloud on the House floor, said, "Hey, people deserve to know what's in this pile of s--t." (link)

Even those who are in favor of restricting carbon emissions know that this cap-and-trade bill is, um, crap. Here's one such person, billionaire Warren Buffet of Berkshire Hathaway:

"I think if you get into the way it was written, it's a huge tax and there's no sense calling it anything else. I mean, it is a tax. And it's a fairly regressive tax. If we buy permits, essentially, at our utilities, that goes right into the bills of the utility customers, and an awful lot of people in Iowa, in Oregon, and Utah, and places where we are, very poor people are going to pay a lot more money for electricity. So I think that can be improved." ( link)

Speaking of restricting carbon emissions, which is the stated purpose of cap-and-trade (all it's negative and destructive effects are just icing on the cake), exactly how much of an effect on global warming will this cap-and-trade bill have ? (for the sake of brevity, I'm assuming here that man-made carbon emissions are a significant cause of global warming, an assumption that is itself a source of controversy).

Washington Post writer Martin Feldstein lays it out in an article called Cap-And-Trade: All Cost, No Benefit.

The Congressional Budget Office recently estimated that the resulting increases in consumer prices needed to achieve a 15 percent CO2 reduction -- slightly less than the Waxman-Markey target -- would raise the cost of living of a typical household by $1,600 a year. Some expert studies estimate that the cost to households could be substantially higher. The future cost to the typical household would rise significantly as the government reduces the total allowable amount of CO2.

Americans should ask themselves whether this annual tax of $1,600-plus per family is justified by the very small resulting decline in global CO2. Since the U.S. share of global CO2 production is now less than 25 percent (and is projected to decline as China and other developing nations grow), a 15 percent fall in U.S. CO2 output would lower global CO2 output by less than 4 percent. Its impact on global warming would be virtually unnoticeable. The U.S. should wait until there is a global agreement on CO2 that includes China and India before committing to costly reductions in the United States.

Waxman-Markey will have NO EFFECT on global warming, but it will have the "benefit" of further destroying our country.

In spite of all this, there are many American corporations ready to jump on the green bandwagon and profit from the carbon credit trading frenzy that El Presidente is trying to unleash on us. You're even familiar with some of these corporations - AIG, General Motors, Goldman Sachs, General Electric...you know, the GOOD corporations that we've all come to know and love so much during the recession. They are ready to jump on the manufactured energy bubble and rake in the big bucks. That these same companies are all recipients of government bailouts is just a big old coincidence, I'm sure. Too bad Enron isn't around any longer. Those guys knew how to run an energy bubble. I bet most of you didn't even know that General Electric got a bailout. Somehow, that hasn't been mentioned by the mainstream media very much. Not only did GE get a bailout, they got a $139 billion bailout, second in size to AIG's bailout. Yet somehow, the enormous GE bailout hasn't been mentioned or condemned by major television networks like......NBC, nor by NBC's retarded cable stepchildren over at MSNBC (aka, The Obama Channel). I'm sure that has nothing to do with the fact that General Electric OWNS NBC, or the fact that GE is deeply in bed with the Obama administration. I'm sure that can't be it. Everyone knows MSNBC is a group of highly dedicated professional journalists who would never compromise their integrity or ideals for.......LOL. Oh, man. I can't finish this sentence. Sometime I even crack myself up.

But make sure you contact GE for all your carbon credit trading needs. They are primed and ready for all their cap-and-trade lobbying to start paying dividends.

As for you, America, I hope you like cake, because if you don't rise up and stop this Cap-And-Trade disaster in the Senate, cake is all you'll have left. And maybe some government cheese to go with it, if you're lucky.

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