Representative Tom McClintock (R-California) warns: Cap and Trade is the Biggest Economic Mistake Since Herbert Hoover.
Three years ago, I stood on the floor of the California Senate and watched a similar celebration over a similar bill, AB 32. And I have spend the last three years watching as that law has dangerously deepened California’s recession. …
Gov. Schwarzenegger assured us that AB 32 would mean an explosion of new, green jobs — exactly the same promises we’re hearing from cap and trade supporters. In California, exactly the opposite has happened. We have lost so many jobs that the UCSB economic forecast is now using the D-word – Depression – to discuss California’s job market.
…And this brings us to the fine point of it.
When you discuss the folly of the Hoover Administration – how it turned the recession of 1929 into the depression of the 1930’s, the first thing that economists point to is the Smoot-Hawley Tariff Act that imposed new taxes on over 20,000 imported products.
Waxman Markey is our generation’s Smoot Hawley. In fact, it’s worse because it imposes new taxes on an infinitely larger number of domestic products on a scale that utterly dwarfs Smoot-Hawley.
Dear Leader has praised California as an example that the rest of the nation should follow with regard to energy policy. Maybe that’s not such a good idea….
Between 2000 and 2007, before the current recession, the state shed nearly 21 percent of its manufacturing jobs, driving down its industrial electrical consumption by 21 percent. California’s industrial users pay electric rates twice as high as their Midwestern counterparts – which helps explain why so much heavy industry has fled the state.
The question remains, do the Democrats really believe the nonsensical spewage that accompanies their policies, or are they seriously out to rape the economy? I tend to believe the latter. Bringing the US down to the levels of other countries would be fairer and more equitable in their eyes. They whine constantly that “the USA consumes 25% of the Earth’s energy but has only five percent of Earth’s population.” I think that gives away the game. Imagine your lifestyle on one-fifth of your current income. What kind of lifestyle would that mean for most Americans? Well, Mexico’s per capita GDP is 21% of the USA’s, and, in general, not a lot of Americans want to live like the average Mexican. In fact, the average Mexican doesn’t want to live like the average Mexican, which is why they’re all over here.