Wednesday, September 30, 2009

The Rich Get Rich....


The Waxman-Markey bill distributes roughly $778 billion in free emission allowances to various politically favored industries and others between 2012 and 2020, at the direct expense of non-favored industries and U.S. consumers. The ultimate impact of this giveaway of emission allowances is to transform the already regressive gross burden of a cap-and-trade system into a highly regressive federal climate policy that effectively redistributes tens of billions of dollars per year from low- and middle-income households to high-income shareholders

Goldman Sachs. Al Gore. GE.

The usual bloodsuckers.

HT: MoonBattery

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