Cap and Trade Will Lead to Capital Flight
In my last column, I joked that with public spending out of control and the piling on of the international bailout bill, economic collapse seems to be the goal of Congress. It is getting harder to joke about such a thing however, as the non-partisan General Accounting Office (GAO) has estimated that the administration’s health care plan would actually cost over a trillion dollars. This reality check may have given us a temporary reprieve on this particular disastrous policy, however an equally disastrous energy policy reared its ugly head on Capitol Hill last week.
The Cap and Trade Bill HR 2454 was voted on last Friday. Proponents claim this bill will help the environment, but what it really does is put another nail in the economy’s coffin. The idea is to establish a national level of carbon dioxide emissions, and sell pollution permits to industry as the Catholic Church used to sell indulgences to sinners. HR 2454 also gives federal bureaucrats new power to regulate a wide variety of household appliances, such as light bulbs and refrigerators, and further distorts the market by providing more of your tax money to auto companies.
The administration has pointed
The real inconvenient truth is
that the cost of government regulations, taxes, fees, red tape, and bureaucracy
is a considerable expense that has to be considered when companies decide where
to do business and how many people they can afford to hire. Increasing governmental burden directly
causes capital flight and job losses, as
And for what? Contrary to claims repeated over and over,
there is no consensus in the scientific community that global warming is
getting worse or that it is manmade. In
fact, over 30,000 scientists signed a petition recently, directly disputing the
claims on which this policy is based.
Legitimate environmental claims should instead be directed towards the
public sector. The
The events on Capitol Hill last week demonstrate Washington’s audacity in manufacturing problems just so they can expand government power to solve them.
To learn more about Congressman Ron Paul, visit his Congressional Home Page.
See Ron Paul's official website regarding his run for President in 2008.
Statement of Policy.
Learn about Mr. Stolyarov's novel, Eden against the Colossus, here.