‘Cap and Trade’ Is a Cash Cow
June 3, 2008
The global warming cultists in Congress are trying to impose their secular religion on all of us. The vehicle is something called “cap and trade.” A bill sponsored by Senators Joe Lieberman and John Warner would cap carbon emissions, which would be lowered every year.
To ease the pain and allow for economic adjustment, the bill would dole out “allowances” under the cap that would stand for the right to emit greenhouse gasses.
As a Wall Street Journal editorial noted, “When cap and trade has been used in the past, such as to reduce acid rain, the allowances were usually distributed for free. A major difference this time is that the allowances will be auctioned off to covered businesses.”
Senator Barbara Boxer sees this as a cash cow for Congress. She estimates $3.32 trillion by 2050. Giving Congress access to that much money is like providing free liquor to an alcoholic. Most believe this bill will be defeated, but that it also a trial run for what will happen should a Democrat be elected president and Congress expand its liberal Democrat majority.
Cal Thomas is a nationally syndicated columnist based in Washington, D.C.
Originally published June 03, 2008.
