Krugman: Cap-and-Tax Won't Create Jobs

Paul Krugman seems to the mastermind behind Democrat economic policies. With that in mind, will Democrats listen to him, rather than repeating nonsense about cap-and-tax creating new jobs?

There will be more wind farms built. There will be people retrofitting power plants to reduce their emissions. There will be people weatherproofing housing and commercial buildings.”

What economists would say is that employment would be just about the same as it would have been otherwise, but it will be a different mix of jobs.

This is a sharp contrast with the sales pitch put forward by its advocates:

This legislation will create millions of clean energy jobs, put America on the path to energy independence, and cut global warming pollution.” said Chairman Waxman.

According to the Heritage Foundation, this legislation will have a net effect of destroying almost 1 million jobs. While it’s not surprising that Paul Krugman is more optimistic about the effect, even he is willing to call out Democrats for this snowjob. The question is whether the mainstream media will continue to let Democrats make such nonsense claims, or whether they’ll tell the truth about the damage this bill will do.

Via Pethokoukis.