Cap-and-Tax Back From the Dead

Lurch and Lieberman are still intent on destroying what's left of the economy:

On Wednesday, Senators John Kerry (D-MA) and Joe Lieberman (I-CT) plan to introduce legislation designed to inflate the cost of energy, strain family budgets, and decimate America's manufacturing sector -- all in the name of supposedly saving the climate.

Kerry and Lieberman have been revamping legislation that narrowly passed the House of Representatives last year. The House bill imposes oppressive limits on carbon dioxide (CO2) emissions and establishes a complex cap-and-trade scheme in which the federal government determines how much CO2 a business may emit. If a business exceeds its allowance, it may purchase additional "carbon credits" from an exchange, where the credits will be traded like a commodity. Rules for the exchange of carbon credits, including the trading of carbon derivatives, are addressed in the House bill, and my sources tell me that the Senate version will include these same stratagems.

In an e-mail sent to the media last week regarding their plans, Kerry and Lieberman said, "We can no longer wait to solve this problem which threatens our economy, our security and our environment."

Of course, that's complete nonsense.  The lack of massive new taxes is not threatening our economy, security or our environment.  Even significant reductions in carbon emission won't begin to change the environment, nor will it offset the increases in emissions from China and India.  It's all symbolic nonsense.

Lurch and Lieberman lost Lindsay Graham's support, so as of right now there are no Republicans on board. I think they still have hopes of getting one of the Ladies of Maine or perhaps even Scott Brown.  Given the state of the economy it's hard to believe that they'll even be able to hold all the Dems together on this, let along add any Republicans.

There's more at American Thinker.