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Cap and Trade Legislation: Will Charging More for Carbon Emissions help our environment, or kill our economy?
Cap and Trade has got both sides of the aisle talking. Democrats, and left leaning media like the NY Times have one perspective, while the Wall St. Journal and many other media see it differently.
NY Times - Cap and trade is a regulatory system that sets a government limit on overall emissions of pollutants like the heat-trapping gases scientists have linked to global warming-- the "cap." It then allows utilities, manufacturers and other emitters to "trade" pollution permits, or allowances, among themselves.
President Obama, Democratic leaders in Congress, mainstream environmental groups and a growing number of business interests, including energy-consuming industries like autos, steel and aluminum, view cap and trade as the lowest-cost solution to a global pollution problem. The approach has been embraced as an alternative to top-down regulatory schemes which would simply levy taxes on harmful emissions.
Wall St Journal - The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.
Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can't repeal that reality.
How do you see it? Could Cap and Trade help our environment without killing our economy? Share your thoughts here
Smaller Indiana is made possible by its members and sponsors:
NY Times - Cap and trade is a regulatory system that sets a government limit on overall emissions of pollutants like the heat-trapping gases scientists have linked to global warming-- the "cap." It then allows utilities, manufacturers and other emitters to "trade" pollution permits, or allowances, among themselves.
President Obama, Democratic leaders in Congress, mainstream environmental groups and a growing number of business interests, including energy-consuming industries like autos, steel and aluminum, view cap and trade as the lowest-cost solution to a global pollution problem. The approach has been embraced as an alternative to top-down regulatory schemes which would simply levy taxes on harmful emissions.
Wall St Journal - The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.
Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can't repeal that reality.
How do you see it? Could Cap and Trade help our environment without killing our economy? Share your thoughts here
Smaller Indiana is made possible by its members and sponsors:
Tags: cap and trade
Replies to This Discussion
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Permalink Reply by Michael Yoder on -
A complete economy KILLER. Think of this economy and how it is affecting middle and low income families already. If our families are having trouble making ends meet now, how will we do it when electric and gas bills double or triple? So I should use less energy and insulate and replace the bad windows etc - well how do I pay for that? It is amazing that this bill passed the House when the biggest "life effects" will be to low and middle income families. I bet it does not pass the Senate now that a public spotlight has been shed on it.
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Permalink Reply by Todd Beattie on -
Where did you get the information that energy bills will double or triple?
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Permalink Reply by Cissi Sherlock on -
News paper articles, news radio, CNN, CNBC, Fox News, word-of-mouth, any internet new outlet...
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Permalink Reply by Sage McGreen on -
I think Cap and Trade could be the launching point for a new tax system - Fair Tax. Tax consumption instead of Income. Wait, is that leaning to the right with a lefty mindset? Doh!
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Permalink Reply by James Ryan on -
That's the nice thing about the Fair Tax: it satisfies both the left and the right. Take the poor completely off the tax rolls by eliminating payroll taxes and giving everyone a prebate on the tax paid on the necessities of life.
But, I'm not sure how Cap and Trade is the launching point. Tax energy consumption at the same tax rate under the Fair Tax and Al Gore will be paying a lot more tax to heat and cool his 10,000 square foot home than I will on my 2,500 square foot home. That's a better approach that capping CO2 emissions.
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Permalink Reply by Sage McGreen on
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Yes, Fair Tax is a very nice thing. I do like your idea about taxing energy consumption, but I also think ALL industry needs to be held accountable for not following standards good for the environment.
Remember, back in the day, there were no littering fines?
Did you make an effort to dispose of your trash properly, or, did you blame someone else everytime you threw a candy wrapper on the ground?
No, I don't think you throw candy wrappers on the ground, I'm just curious.
Like Colin said, " it's a new Energy Age and we all need to meet on common ground."
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Permalink Reply by Cissi Sherlock on
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Though I agree the tax system should be more people friendly, "Good Luck!" changing it in our life time!
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Permalink Reply by Kyle Capron on -
This will be just one more nail in the coffin of American liberty. Build your windmills now, to capitalize on the breezes created by every manufacturing facility leaving this country. This is what every Asian country is hoping for, more American factories coming and creating new jobs overseas. We continue to look for new ways to shoot the economy in the foot and now we are going to use a 12 ga shotgun. How about giving tax incentives for becoming more green, and try and keep jobs stateside. Reward people who come up with alternative energy solutions. What will be coming next the thermostat police to make sure that no one is wasting electricity. Once the government takes control of energy, and determines who has how much of it and when they can have it, and how they can use it, we have lost control of our freedom and now are dependent of the government.
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Permalink Reply by Todd Beattie on
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Normally the best way to get people to do something is to put a financial interest on it, positive or negative.
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Permalink Reply by Cissi Sherlock on
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Obama is leaning toward government control of everything (...though He says he is not. I am having fun being an "Obama Buster" among those who swore he would keep his campaign promises). And, I do foresee the elimination of gasoline powered cars. Going "green" is not the answer to everything, though you do make some valid points, Kyle.
If the politicians would only be privvy to forum discussions such as this, and see the valid suggestions such as yours and those of other concerned American citizens, we might be able to put viable solutions on the table AND come to some conclusions, THEREBY CREATING SOLUTIONS.
Oops, there goes Toto flying by my window, Dorothy!.
"By the people, for the people"
I might want to throw my position on saving the earth in here: Long after those who argue are gone, the earth will be here. Long before those who argue were here, the earth was here.
As a matter of fact, millions of years before those who argue were here, ice ages come and went, warming trends came and went, animals became extinct, others evolved. man came and man eventually will go. We actually have no say the evolution because it is a force that was in play before I was even a zygote.
Though I rant, I do believe that there are things we can do to help! I just don't believe living "green" is going to change things that we have no control over, scientifically or spiritually.
Just as they say let the economy fix itself, so will the earth. It has and it will regardless of what we do. Ohh, and don't let those fanatics feed you the line "Well, we can help." Guess what, we're going to die! That's a natural fact. And, when we do, the earth will still be here. Even if there is a nuclear outbreak, the earth had exhibited extraordinary tendencies of rejuvenations.
I just don't want irresponsible decisions made by people who think they rule to put my lifeline on the fast track.
Two lines come to mind:
"Give me your tire, you poor, your huddled masses yearning to be free."
And....
"...life, liberty and the pursuit of happiness."
A third was brought to my attention on the third of July n reference to the Fourth. I believe it originated from Thomas Jefferson and, it went a little something like this (HIT IT!!!)
"The same God that gave you life, gave you Liberty."
We must never let that be take away.
In conclusion, cap it, trade it, lose it!
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Permalink Reply by Kurt Workman on -
The NY Times has it all wrong. While the US has been steadily reducing our "pollutants" and emissions, now-industrialized countries like China and India aren't playing the same game. Yes, we consume more than any nation on a percentage basis, but we ALSO PRODUCE AND GIVE MORE THAN ANY NATION ON EARTH. This bill is really about raising taxes (not a new concept for our "leaders" in Washington) to make up for their inability to balance a budget and run our nation how we as individuals and business owners must operate.
We (man) can't even accurately predict the weather over a 1-3 day period at times. How are we supposed to believe that computer models are accurate when predicting a 0.9 degree average temperature change in the next 10 years!
I say find another way to pay for the things that need to be paid for (responsible spending) and stop trying to tax the American people every time our leaders "need" more money.
Definitely BAD for the economy.
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Permalink Reply by Arik Flanders on -
I couldn't agree more with what you said.
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6. Smaller Indiana is supported by its members, and by corporate sponsors. If you're interested in learning more about sponsorship, please call Pat Coyle at 317 332 7878.
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