Any carbon-reduction policy that includes paying Washington for permits to emit carbon is the wrong way to go. Why? Two words. Social Security. Washington has no spending restraint. Earmark nation is alive and thriving. Everyone has heard of the Social Security Trust Fund; Al Gore’s “lock box”. Social Security has been running surpluses in the hundreds of billions of dollars per year for a long time. If you think your payroll taxes are piling up for your retirement in a bunker under Washington somewhere, you are sorely mistaken. Our profligate government has been taking the surplus and spending it on...
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