Republicans released a new ad today hitting the democrats hard over their cap and tax legislation.
In their own words:
They forgot to mention that Obama also admitted the Cap and Trade will not only cause your electricity bills to skyrocket but that it will bankrupt the coal industry.
Glenn Reynolds had more on the Cap and Tax legislation today:
BOB ZUBRIN IN ROLL CALL: The Costs of the Cap-and-Trade Bill. “Consider: Burning one ton of coal produces about three tons of CO2. So a tax of $15 per ton of CO2 emitted is equivalent to a tax of $45/ton on coal. The price of Eastern anthracite coal runs in the neighborhood of $45/ton, so under the proposed system, such coal would be taxed at a rate of about 100 percent. The price of Western bituminous coal is currently about $12/ton. This coal would therefore be taxed at a rate of almost 400 percent. Coal provides half of America’s electricity, so such extraordinary imposts could easily double the electric bills paid by consumers and businesses across half the nation. . . . But all these bad aspects of the Waxman-Markey bill pale before its potential impact on the world’s food supply.”
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And don’t forget… Under the new democratic cap and trade legislation all US homes will have to meet strict government eco-standards before they can be sold.