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Tuesday, June 03, 2008

We Don't Need a Climate Tax on the Poor

Sen. Inhofe in today's Wall Street Journal outlines the consequences of the Lieberman-Warner Climate Security Act:

The Lieberman-Warner bill (America's Climate Security Act) represents the largest tax increase in U.S. history and the biggest pork bill ever contemplated with trillions of dollars in giveaways. Well-heeled lobbyists are already plotting how to divide up the federal largesse. The handouts offered by the sponsors of this bill come straight from the pockets of families and workers in the form of lost jobs, higher gas, power and heating bills, and more expensive consumer goods.
The NCPA has a bulletpoint summary of some of the tax provisions and the $6.7 trillion in subsidies in the bill.

Ben Lieberman of the Heritage Foundation (no relation to Joe Lieberman, I presume, or else family dinners must be interesting), outlines the GDP decline, loss of jobs, and higher energy prices that will result from this legislation.

Finally, Scott Ott at Scrappleface notes that the bill is the equivalent of burning paper currency for energy - apparently larger denominations have more BTUs.

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