The idea behind Cap and Trade is to cut down on carbon emission pollution, the type from using fossil fuels. Politicians in charge get to designate which industries get what quotas for emissions with which they can befoul the air.
Then there are fees involved and penalties. That’s where the hidden taxation arises, and accumulates as a giant tax gimmick that will directly and indirectly hit industry and the consumer. The answer to any entrenched statist politician’s dream.
The Chinese and India want nothing to do with it because it destroys economies. New Zealand tried it for a couple of years and quit. The Australians put it on hold after some sober thought. Yet, the Obama administration appears ready for the fiasco.
Legislative enactment is highly unlikely, so the Obama administration is enhancing the provision its own way, through the Environmental Protection Agency action, literally behind the public’s backs.
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