IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Waxman-Markey: Man-Made Disaster: "It is the largest tax increase in American history — a tax on all Americans — even the 95% that President Obama pledged would never see a tax increase."...
And what would we get for all this pain? According to an analysis by Chip Knappenberger, administrator of the World Climate Report, the reduction of U.S. CO2 emissions to 83% below 2005 levels by 2050 — the goal of the Waxman-Markey bill — would reduce global temperature in 2050 by a mere 0.05 degree Celsius.
The cap and tax plan is all pain and no gain.
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