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    CBO Plays "Let's Pretend" on Kerry–Lieberman Scoring

    Here’s a principles-of-economics question: Suppose the U.S. gross domestic product (national income) is currently $14 trillion. Then suppose the U.S. raised all tariff, income tax, and sales tax rates to 100 percent. How much money would the government collect? If you realized that nobody would generate taxable income under such … More

    The President's Oil Spill Speech

    President Barack Obama delivered his first Oval Office speech on the heels of his latest visit to the Gulf region – the fourth since the Deepwater Horizon rig explosion in April.   With such an environmental and economic crisis present, the president needs to exert leadership to protect our precious coastal … More

    Morning Bell: The Obama Energy Tax Game Plan

    In February of this year, after Sen. Scott Brown’s (R-MA) victory put Obamacare on life support, health insurer Anthem Blue Cross announced a 39% rate hike for its individual market subscribers in California. Despite the fact that the President’s health care plan will only drive health insurance rates higher, the … More

    The Fannie and Freddie Solution for Pollution

    Senators Kerry and Lieberman have introduced their “compromise” climate change legislation that relies largely on a “cap and trade” scheme to reduce carbon emissions. Even assuming there was a need for carbon limits, the Kerry-Lieberman bill gets the mechanism all wrong, apparently because the Senators either don’t understand or don’t … More

    Public Still Not Sure What Cap and Trade Is, but They Will If It Passes

    Maybe John Kerry and President Obama and proponents of a cap and trade system to reduce greenhouse gas emissions still have time to change message. “I don’t know what ‘cap and trade’ means. I don’t think the average American does,’ Kerry said recently. And he’s right. According to a new … More

    Treasury Admits Cap and Trade is a Massive Tax

    Thanks to the relentless work of Christopher Horner at the Competitive Enterprise Institute, U.S. Department of Treasury admitted cap and trade would be a tax that could generate revenue between $100 billion to $200 billion a year. Horner obtained the information from the Treasury by using the Freedom of Information … More

    No Surprise: Global Warming Bill Delayed in Senate

    Senate Environment and Public Works Committee Chairman Barbara Boxer (D-CA) has abandoned her plans to draft and mark-up a comprehensive national energy tax modeled after the House-passed Waxman-Markey bill before Congress’s August recess. According to Reuters, Boxer promised, “we’ll do it as soon as we get back” from our month-long … More

    Who Needs a Ways and Means Committee?

    The House Ways and Means Committee, the chief tax committee that has jurisdiction over all taxes and revenue-generating programs (social security, medicare, unemployment) is saying “no thanks” to dealing with potentially one of the largest taxes in history, the cap and trade energy tax. From CongressDailyAM: “House Ways and Means … More

    Another Opinion on Waxman-Markey: Washington Post

    The Waxman-Markey Global Warming Tax would have a devastating effect on our economy. But don’t just take our word for it. This week we’ll be sharing the opinions of other organizations who agree that Waxman-Markey will cause massive unemployment and drive energy prices up for all Americans. Today: Washington Post … More

    The Waxman-Markey Global Warming Tax

    KILLS MORE JOBS AND KILLS THE ECONOMY Cap and Tax Top Ten List Cap and Trade Is a Massive Energy Tax It Will Not Make a Substantive Impact on the Environment It Will Kill Jobs It Will Cause Electricity Bills and Gas Prices to Sharply Increase It Will Outsource Manufacturing … More