For those of you who don't know what Cap And Trade is about, here is a brief explanation of how it works:
These measures would set a limit, or cap, on carbon dioxide emissions from fossil fuel use. The effect of such a cap would be to impose rationing of coal, oil, and natural gas on the American economy. Each covered utility, oil company, and manufacturing facility would be given allowances based on past emissions or some other formula. Those companies that emit less carbon dioxide than permitted by their allowances could sell the excess to those that do not; this is the trade part of cap and trade.
The Cap and trade scheme is essentially saying that business can put out all the CO2 they want just as long as you they Congress to do it. But the truth is that corporations rarely pay taxes because they pass the taxes on to their customers in the way of higher prices. Thus, Cap and Trade or a Carbon Tax is nothing more than another attempt for the government to get more money in taxes.
Not only is it a tax but it is another method of redistributing wealth.Notice that Al Gore is in favor of BOTH a Carbon Tax and a Cap And Trade tax. Did you catch the fact that these taxes are "revenue neutral" and that the money will be returned to the "people"!? This is nothing more than a attempt by the government to redistribute wealth via taxes.
So, in the end, ladies and gentlemen, its not the corporations who will be paying these taxes. Its YOU, the regular tax payer.
And politicians wonder why citizens have Tea Parties...
UPDATE (MAY 1, 2009): The debate has no shifted to how much the Cap and Trade Tax will cost the average American family. Republicans argue it will cost every American family as much as $3,100 a year while democrats think the cost shifted to the American public will be minimal.