Robert Samuelson presents a persuasive take-down of “cap-and-trade,” the liberal solution to controlling greenhouse gas emissions. He shows that a cap-and-trade system would likely break down in the end because it probably does not permit satisfactory economic growth. In the meantime, though, it would impose a new tax on most Americans and would expand our government enormously, creating vast amounts of “environmental pork.”
No wonder the Democrats like cap-and-trade so much. But why does John McCain?