Friday, April 24, 2009

Truth About Cap and Trade

Al Gore testified today about cap and trade. During the questioning, John Dingell (D-MI) said the following:

"Nobody in this country realizes that cap-and-trade is a tax -- and it's a great big one."


Here's the video



Notice what Gore says after Dingell is done. This is during a debate about what is better: a straight carbon tax or cap and trade. Gore advocates both! How much would a gallon of gas cost in this Gore world? How much would my electric bill be? To his credit, he does say a carbon tax should be revenue neutral, but why doesn't he say the same about cap and trade? Shouldn't that be revenue neutral as well? Or is it okay to raise taxes as long as its disguised and no one understands it? And does anyone really believe that Congress could or even has any desire to design a revenue neutral approach?

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