Why cap-and-trade sucks?

From what I gather, this Cap & Trade policy will not have all that great of an effect on the economy, for example, it will:

Destroy an average of 1-3 million jobs, every year
Raise inflation-adjusted gasoline prices by 74 percent
Raise residential natural gas prices by 55 percent
Raise an average family’s annual energy bill by ,500 annually
Increase the federal debt by 26 percent, which is ,150 per person

I understand it is to combat "global warming", but given the current split in the scientific community as to whether Human polution is the primary cause of GW and the possible scenario of "if we do change our actions there may be little no effect", is it worth all this money?

Sounds more like a giant tax raise to me.

What do you think?

3 Responses to “Why cap-and-trade sucks?”

  1. Antiliber Says:

    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.

    The bill forces agriculture and other productive sectors of our nation’s economy into a position of severe competitive disadvantage with trading partners like China and other nations who will not burden their economies to control carbon emissions," said American Farm Bureau Federation President Bob Stallman.

  2. Obamanable Faux Man Says:

    The voice of reason…

    If you look at the CBO report, it’s the lower/middle/upper-middle classes that take the brunt of the burden. Must’ve forgotten to say the lower 95% won’t be affected by implicit taxes as well.

    AGW is a hypothesis at best…too many assumptions in their models. The sad reality is it’s like a religion for some people…so it’s going to be difficult to talk some sense into them.

    CBO Report – Last Page = NET COSTS:
    http://www.cbo.gov/ftpdocs/103xx/doc10327/06-19-CapAndTradeCosts.pdf

  3. kscottmccormick Says:

    I think you have described it very well as a giant tax raise. But what happened to Obama’s campaign promise to lower taxes for 95% of the people?