The assumption is that coal producers are adding to the carbon emissions in the atmosphere that is perhaps causing the climate change. Despite the hundreds of scientists that disagree that with this claim, Al Core has pushed this message with a book and movie and has investing millions into green energy companies.
Al Gore used his political influence to lead the effort against carbon fuels. Gore was also a strong supporter of Obama, and would significantly benefit from the cap-and-trade legislation.
When questioned by Congresswoman Marsha Blackburn (R-Tennessee) last week, Gore replied that he gives every penny to a non-profit – that he of course chairs.
The cap-and-trade legislation is not going to stop carbon emissions just as cigarette tax does not stop people from smoking. If fact the government doesn't want to stop carbon emissions for the same reason they don't want people to stop smoking, because they would loose the tax revenue. This is just another way to increase taxes without increasing the income tax.
The legislation is estimated to cost the economy three-to-six million jobs – and cost each household between $1600 and $3300 a year in taxes.
Government Needs More Money
The real reason behind this legislation is that the government has run out of money and needs to find new and creative ways to tax people without increasing income taxes because that is politically challenging.
The government has expanding so large that it is beyond the support of the economy. The economy has toppled under the tax burden of the government and the government’s solution is to expand and increase the taxes even more. The cap-and-trade legislation is an unsustainable tax burned that the economy cannot afford.