March 4, 2009

Cap and Trade vs. Michigan

Will President Obama's insistence on the reduction of man-made carbon dioxide in the atmosphere push Michigan over the brink into bankruptcy?  The Detroit News thinks so... and it won't be only Michigan...

President Barack Obama's proposed cap-and-trade system on greenhouse gas emissions is a giant economic dagger aimed at the nation's heartland -- particularly Michigan. It is a multibillion-dollar tax hike on everything that Michigan does, including making things, driving cars and burning coal.

The president is asking for a system of government limits on carbon emissions. The right to emit carbon would be auctioned off to generate revenue for more government spending programs.

That's the plan -- tax everyone who's doing anything to pay the way for those who do nothing.

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