Diary

Waxman - Pitching His New Book and Cap and Trade

Henry Waxman graced the Chicago airwaves this morning on WLS pitching his book “The Waxman Report”.  Waxman’s infomercial seemed very timely after Cap and Trade (Crap and Fade for those who read my previous blog) narrowly passed in the house. He explained how America will benefit by leading the way in new green technologies. Of course his whole point was this bill would address global warming (I thought it was now called climate change).

When the subject of clean coal technology came up WLS Radio host Don Wade asked Waxman did you hear Obama’s 2008 speech in San Francisco? Wade alluded to Obama stating coal fired power plants would go bankrupt under his administration due to the regulations. Henry claimed he never heard the Messiah said that! After Waxman heard the portion of the speech he still didn’t believe it.  

Waxman also graced his presence on Michael Medved’s radio show. Like the good liberal foot soldier Hank stated once American industries know the regulations they’ll line up to invest in these glorious green technologies.

An article on the Heritage Foundation website warns under the first year of Cap and Trade unemployment will increase by nearly 2 million, and look forward to a total GDP loss of $9.4 trillion by 2035. I do remember Nancy Pelosi calling this a jobs bill. Hey Madame Speaker can you kindly explain your logic?

I went to a seminar held by Americans for Prosperity where Steve Moore from the Wall Street Journal showed a graph on how America flourished when Reagan lowered the corporate tax rate from 70%. The economy grew and so did tax revenues to the government.  Moore also showed how many countries are now lowering corporate tax rates, while this bill will place an additional tax burden on companies that stay in America. Please note – THAT STAY IN AMERICA.   

From all indications the Waxman/Markey bill will accomplish exactly what Hank wants; the reduction of America’s carbon foot print. The problem is this reduction will be accomplished by driving most companies out of America. Now that’s “Hope and Change.”