Cap and trade will allow large amounts of revenue to accrue to government in such a way that average citizens will not fully understand; they will tend to blame "greedy businessmen" and "evil corporations" for the higher prices. While increasing government revenues, it will allow politicians to buy votes by granting more and more tax credits to workers, which will benefit lower income workers proportionately more, while increasing the cost of government to the middle class and the wealthy -- and particularly for retirees -- all in a highly complex manner that will make it difficult to figure out how all this is being done.
The combination of deception, dishonesty, and the increase in taxes, makes cap and trade a virtually ideal policy from the point of view of liberal politicians -- particularly "blue state" politicians -- interested in expanding the size, scope, and power of government.
Michael W. Leach
Virginia Beach, Va.
Letter to the Editor, Wall Street Journal, March 17, 2009