Sarah Palin: The Cap and Tax Dead-End

[basso]

a contender for real, not fade away...

quote:

---

The 'Cap And Tax' Dead End
By Sarah Palin
Tuesday, July 14, 2009

There is no shortage of threats to our economy. America's unemployment rate recently hit its highest mark in more than 25 years and is expected to continue climbing. Worries are widespread that even when the economy finally rebounds, the recovery won't bring jobs. Our nation's debt is unsustainable, and the federal government's reach into the private sector is unprecedented.

Unfortunately, many in the national media would rather focus on the personality-driven political gossip of the day than on the gravity of these challenges. So, at risk of disappointing the chattering class, let me make clear what is foremost on my mind and where my focus will be:

I am deeply concerned about President Obama's cap-and-trade energy plan, and I believe it is an enormous threat to our economy. It would undermine our recovery over the short term and would inflict permanent damage.

American prosperity has always been driven by the steady supply of abundant, affordable energy. Particularly in Alaska, we understand the inherent link between energy and prosperity, energy and opportunity, and energy and security. Consequently, many of us in this huge, energy-rich state recognize that the president's cap-and-trade energy tax would adversely affect every aspect of the U.S. economy.

There is no denying that as the world becomes more industrialized, we need to reform our energy policy and become less dependent on foreign energy sources. But the answer doesn't lie in making energy scarcer and more expensive! Those who understand the issue know we can meet our energy needs and environmental challenges without destroying America's economy.

Job losses are so certain under this new cap-and-tax plan that it includes a provision accommodating newly unemployed workers from the resulting dried-up energy sector, to the tune of $4.2 billion over eight years. So much for creating jobs.

In addition to immediately increasing unemployment in the energy sector, even more American jobs will be threatened by the rising cost of doing business under the cap-and-tax plan. For example, the cost of farming will certainly increase, driving down farm incomes while driving up grocery prices. The costs of manufacturing, warehousing and transportation will also increase.

The ironic beauty in this plan? Soon, even the most ardent liberal will understand supply-side economics.

The Americans hit hardest will be those already struggling to make ends meet. As the president eloquently puts it, their electricity bills will "necessarily skyrocket." So much for not raising taxes on anyone making less than $250,000 a year.

Even Warren Buffett, an ardent Obama supporter, admitted that under the cap-and-tax scheme, "poor people are going to pay a lot more for electricity."

We must move in a new direction. We are ripe for economic growth and energy independence if we responsibly tap the resources that God created right underfoot on American soil. Just as important, we have more desire and ability to protect the environment than any foreign nation from which we purchase energy today.

In Alaska, we are progressing on the largest private-sector energy project in history. Our 3,000-mile natural gas pipeline will transport hundreds of trillions of cubic feet of our clean natural gas to hungry markets across America. We can safely drill for U.S. oil offshore and in a tiny, 2,000-acre corner of the Arctic National Wildlife Refuge if ever given the go-ahead by Washington bureaucrats.

Of course, Alaska is not the sole source of American energy. Many states have abundant coal, whose technology is continuously making it into a cleaner energy source. Westerners literally sit on mountains of oil and gas, and every state can consider the possibility of nuclear energy.

We have an important choice to make. Do we want to control our energy supply and its environmental impact? Or, do we want to outsource it to China, Russia and Saudi Arabia? Make no mistake: President Obama's plan will result in the latter.

For so many reasons, we can't afford to kill responsible domestic energy production or clobber every American consumer with higher prices.

Can America produce more of its own energy through strategic investments that protect the environment, revive our economy and secure our nation?

Yes, we can. Just not with Barack Obama's energy cap-and-tax plan.

The writer, a Republican, is governor of Alaska.

---

[ROXRAN]

Originally Posted by basso a contender for real, not fade away... quote: The 'Cap And Tax' Dead End By Sarah Palin Tuesday, July 14, 2009 There is no shortage of threats to our economy. America's unemployment rate recently hit its highest mark in more than 25 years and is expected to continue climbing. Worries are widespread that even when the economy finally rebounds, the recovery won't bring jobs. Our nation's debt is unsustainable, and the federal government's reach into the private sector is unprecedented. Unfortunately, many in the national media would rather focus on the personality-driven political gossip of the day than on the gravity of these challenges. So, at risk of disappointing the chattering class, let me make clear what is foremost on my mind and where my focus will be: I am deeply concerned about President Obama's cap-and-trade energy plan, and I believe it is an enormous threat to our economy. It would undermine our recovery over the short term and would inflict permanent damage. American prosperity has always been driven by the steady supply of abundant, affordable energy. Particularly in Alaska, we understand the inherent link between energy and prosperity, energy and opportunity, and energy and security. Consequently, many of us in this huge, energy-rich state recognize that the president's cap-and-trade energy tax would adversely affect every aspect of the U.S. economy. There is no denying that as the world becomes more industrialized, we need to reform our energy policy and become less dependent on foreign energy sources. But the answer doesn't lie in making energy scarcer and more expensive! Those who understand the issue know we can meet our energy needs and environmental challenges without destroying America's economy. Job losses are so certain under this new cap-and-tax plan that it includes a provision accommodating newly unemployed workers from the resulting dried-up energy sector, to the tune of $4.2 billion over eight years. So much for creating jobs. In addition to immediately increasing unemployment in the energy sector, even more American jobs will be threatened by the rising cost of doing business under the cap-and-tax plan. For example, the cost of farming will certainly increase, driving down farm incomes while driving up grocery prices. The costs of manufacturing, warehousing and transportation will also increase. The ironic beauty in this plan? Soon, even the most ardent liberal will understand supply-side economics. The Americans hit hardest will be those already struggling to make ends meet. As the president eloquently puts it, their electricity bills will "necessarily skyrocket." So much for not raising taxes on anyone making less than $250,000 a year. Even Warren Buffett, an ardent Obama supporter, admitted that under the cap-and-tax scheme, "poor people are going to pay a lot more for electricity." We must move in a new direction. We are ripe for economic growth and energy independence if we responsibly tap the resources that God created right underfoot on American soil. Just as important, we have more desire and ability to protect the environment than any foreign nation from which we purchase energy today. In Alaska, we are progressing on the largest private-sector energy project in history. Our 3,000-mile natural gas pipeline will transport hundreds of trillions of cubic feet of our clean natural gas to hungry markets across America. We can safely drill for U.S. oil offshore and in a tiny, 2,000-acre corner of the Arctic National Wildlife Refuge if ever given the go-ahead by Washington bureaucrats. Of course, Alaska is not the sole source of American energy. Many states have abundant coal, whose technology is continuously making it into a cleaner energy source. Westerners literally sit on mountains of oil and gas, and every state can consider the possibility of nuclear energy. We have an important choice to make. Do we want to control our energy supply and its environmental impact? Or, do we want to outsource it to China, Russia and Saudi Arabia? Make no mistake: President Obama's plan will result in the latter. For so many reasons, we can't afford to kill responsible domestic energy production or clobber every American consumer with higher prices. Can America produce more of its own energy through strategic investments that protect the environment, revive our economy and secure our nation? Yes, we can. Just not with Barack Obama's energy cap-and-tax plan. The writer, a Republican, is governor of Alaska.

Bravo! Awesome written piece by Sarah Palin. She gets it. Barack Obama doesn't...

[mc mark]

Ms Palin, without google, please define cap and trade.

signed,
America

[Major]

I find it amusing that many Senate GOPers are now against what was basically originally a GOP, free-market idea - simply because Democrats took the lead on it. It's funny how so many of them supported it last year when it was pushed by McCain.

[Oski2005]

Originally Posted by Major I find it amusing that many Senate GOPers are now against what was basically originally a GOP, free-market idea - simply because Democrats took the lead on it. It's funny how so many of them supported it last year when it was pushed by McCain.

LOL. I wonder who else has flip flopped on this?

[mc mark]

From a McCain / Palin campaign flyer

"John McCain and Sarah Palin will establish a market-based system to curb greenhouse gas emissions, mobilize innovative technologies, and strengthen the economy. They will work with our international partners to secure our energy future, create opportunities for American industry, and leave a better future for our children.

"They have proposed a cap-and-trade system that would reduce greenhouse gas emissions while encouraging the development of low-cost compliance options. A climate cap-and-trade mechanism would set a limit on greenhouse gas emissions and allow entities to buy and sell rights to emit, similar to the successful acid rain trading program of the early 1990s. The key feature of this mechanism is that it allows the market to decide and encourage the lowest-cost compliance options.

"A cap-and-trade system harnesses human ingenuity in the pursuit of alternatives to carbon-based fuels. Market participants are allotted total permits equal to the cap on greenhouse gas emissions. If they can invent, improve, or acquire a way to reduce their emissions, they can sell their extra permits for cash. The profit motive will coordinate the efforts of venture capitalists, corporate planners, entrepreneurs, and environmentalists around the common goal of reducing emissions.

"To support the cap-and-trade system, a McCain-Palin Administration will promote the innovation, development, and deployment of advanced technologies. They will reform federal government research funding and infrastructure to support the cap-and-trade emissions reduction goals and emphasize the commercialization of low-carbon technologies.

"John McCain and Sarah Palin believe that an effective and sustainable climate policy must also support rapid economic growth. They will use a portion of auction proceeds to reduce the impact on low-income American families. The McCain-Palin plan will accomplish this in part by incorporating measures to mitigate any economic cost of meeting emission targets."

[Rashmon]

Hey, I found Sarah's original draft before the editor cleaned it up a little:

De 'Cap And Tax' Dead End By Sarah Palin

Dehe is no shortage of dreats t' our economy. Amehica's unemploymin rate recent hit its highest mark in more dan 25 years 'n is expeckid to continue climbigg. Worries are widespread dat eben when the, uh, economy final rebounds, duuhhhh, de recobehy won't brigg dgobs. Our nashun's debt is unsustainaggle, 'n the, uh uh uh, fedehal gobehnmin's reach into de pribate seckor is unprecedented.

Unf'tunate, many in de nashunal media wudd radeh focus on de pehsonality-driben political gossip of the, uhhh, day dan on de grabity of dese challenges. So, at risk of disappoitigg the, errr, chattehigg class, duuhhhh, let me make clear what is f'emost on my mind 'n whehe my focus will be:

I am deep cossernid bou' President Obama's cap-and-trade enehgy plan, 'n I beliebe it is an enormous dreat t' our economy. It wudd undehmine our recobehy obeh the, ERRRR, short tehm 'n wudd inflict pehmanent damage. Amehican prospehity has allays been driben by the, ERRRR, steady supp of abundant, uh, aff'daggle enehgy.

Particular in Alaska, webuh undehstand de inhehent link betweebuhn enehgy 'n prospehity, enehgy 'n opportuty, 'n enehgy 'n security. Consekent, many of us in dis huge, uh uh uh, enehgy-rich state recognize dat de president's cap-and-trade enehgy tax wudd adbehse affeck ebehy aspeck of de U.S. economy. Dehe is no denyigg dat as the, uh, the world becomes more industrialized, uh uh uh uh, webuh neid to ref'm our enehgy policy 'n become less dependent on f'eign enehgy suhces.

DOIHH!But de answebuhr doesn't lie in makigg enehgy scarceh 'n more expensibe! Huh huh! Dose who undehstand de issue know webuh can meet our enehgy need 'n enbironminal challenges widout destroyigg Amehica's economy. Dgob losses are so cehtain undeh dis new cap-and-tax plan dat it inclubes a probishun accommodatigg new unemployid workehs from de resultigg dried-up enehgy seckor, t' the, duh uhh, tune of $4.2 billion obeh eite years. So much f' cratigg dgobs.

In abbishun t' immedut increasigg unemploymin in the, uh, enehgy seckor, eben more Amehican dgobs will be dreatenid by de risigg cost of doigg bidness undeh the, errr, cap-and-tax plan. F' examble, the, errr, cost of farmigg will cehtain increase, uh uh uh, dribigg down farm incomes while dribigg up grocehy prices.

De costs of manufackurigg, warehousigg 'n transportashun will also increase. De ironic beauty in dis plan, duh...uh...? Soon, eben de most ardent libehal will undehstand supply-side economics. De Amehicans hit hardest will be dose already struggligg t' make ends meet. As de president elokent puts it, uh, deir eleckricity bills will "necessary skyrocket."

So much f' not raisigg taxes on anyone makigg less dan $250,000 a year. Eben Warren Buffett, uh, an ardent Obama supporteh, admittid dat undeh the, errr, cap-and-tax scheme, uh uh uh, "poor peoble are goigg t' pay alot more f' eleckricity." Webuh must mobe in a new direckion. Webuh are ripe f' economic growd 'n enehgy independess if webuh reponsib tap de resuhces dat God cratid rite undehfoot on Amehican soil.

GEE danks.Dgust as iportant, uh, webuh habe more desire 'n abiltiby t' proteck the, uh, enbironmin dan any f'eign nashun from which webuh purchase enehgy today. In Alaska, webuh are progressigg on de largest pribate-seckor enehgy probuhjeck in hifayree tale. Our 3,000-mile natural gas pipeline will transport hundreds of trillions of cubic feet of our clean natural gas t' hungry markets across Amehica.

Webuh can safe drill f' U.S. DOIHH!oil offshore 'n in a tiny, 2,000-acre corneh of de Arctic Nashunal Wildlife Refuge if ebeh giben de go-ahead by Washiggton bureaucrats. Of cusse, uh uh uh, Alaska is not the, ERRRR, sole suhce of Amehican enehgy. Many states habe abundant coal, whose technology is continuous makigg it into a cleaneh enehgy suhce. Webuhstehnehs litehal sit on mountains of oil 'n gas, duuhhhh, 'n ebehy state can consideh de possibiltiby of nucular enehgy.

Webuh habe an iportant choice t' make. Duh.Do webuh want t' control our enehgy supp and its enbironminal ipack, duh...uh...? Or, do webuh want t' outsuhce it t' China, Russia 'n Saudi Arabia, duh...uh...?

Make no mistake: President Obama's plan will result in de latteh. F' so many reasons, duuhhhh, webuh can't aff'd t' kill reponstiggle domestic enehgy produckion or clobbeh ebehy Amehican consumeh wid higheh prices. Can Amehica produce more of its own enehgy drough strategic inbestmins dat proteck the, uh, enbironmin, rebibe our economy 'n secure our nashun, duh...uh...?

Yuh, webuh can. Dgust not wid Barack Obama's enehgy cap-and-tax plan.

[JuanValdez]

I also have a hard time believing the byline on this article. Not that it even gets very technical.

I also do find it ironic that conservatives don't like a cap-and-trade system. They love this stuff in business school.

[FranchiseBlade]

I wonder what the Department of Law would have to say about this.

[Northside Storm]

The writer, a Republican, is quitting her position as governor of Alaska under the stress the media have caused her, which somehow makes her qualified to take on even more stressing positions according to the demented logic of some.

fixed

also...

[pgabriel]

The energy sector is not drying up, that's about the stupidest complaint from the critics. people still need electricity, they still need gasoline, etc, etc.

[dylan]

Originally Posted by basso, via Sarah Palin Even Warren Buffett, an ardent Obama supporter, admitted that under the cap-and-tax scheme, "poor people are going to pay a lot more for electricity."

But I thought TJ just assured us that Buffett no longer supports Obama!

Originally Posted by Trader_Jorge Obama's budget deficit has turned a lot of people against him, including his one time supporters George Soros and Warren Buffett.

Sounds like Palin is already splitting the GOP.

[rimrocker]

The reviews are starting to come in...

Jonathan Chait thinks she wrote it herself...

Her subject matter is the House bill to reduce carbon dioxide emissions. Palin argues against it by ignoring the entire question of carbon dioxide emissions and instead arguing that expensive energy is bad and cheap energy is good. I'd be tempted to suggest that this signals her total intellectual unsuitablity for office, but, sadly, this is par for the course on the right these days. The subtext of the op-ed is Palin's attempt to position herself as, if not a policy wonk, then somebody whose views on public policy deserve to be taken seriously. The whole tone of the op-ed is reminiscent of the movie star who wants us to know that he's more than just a beautiful body, he has serious thought about the issues of the day. "Unfortunately," she writes, "many in the national media would rather focus on the personality-driven political gossip of the day than on the gravity of these challenges." The op-ed was clearly written by Palin herself. It has that 9th grade, five paragraph essay style along with random bits of right-wing jargon sprinkled throughout in appropriate contexts. http://blogs.tnr.com/tnr/blogs/the_p...-ed-today.aspx

As for me, this is my nomination for stupidest line in a Sarah Palin op-ed possibly written by Sarah Palin...

Originally Posted by Palin We are ripe for economic growth and energy independence if we responsibly tap the resources that God created right underfoot on American soil. Just as important, we have more desire and ability to protect the environment than any foreign nation from which we purchase energy today.

[basso]

Originally Posted by Jonathan Chait It has that 9th grade, five paragraph essay style

Ditto the Economist.

btw, does Obama write his own material?

[Franchise2001]

New Palin Campaign T-Shirts have just arrived!!!



Her #1 fan...

[mc mark]

Originally Posted by ROXRAN Bravo! Awesome written piece by Sarah Palin. She gets it. Barack Obama doesn't...

ROX I know there’s no hope for basso, but I’m hoping that you might have a different perspective of the article in light of the evidence of hypocrisy and apparent disingenuousness on the part of Ms Palin?

[JuanValdez]

How sad is it that when a candidate for VP of the USA (who has a degree in journalism, no less) writes an article, the first thing everyone wonders if she really is smart enough to have written it herself.

[Kojirou]

Her #1 fan...

Hey, hey, I don't like Palin, but to compare her to Pippen is unfair to her.

[Franchise2001]

Originally Posted by Kojirou Hey, hey, I don't like Palin, but to compare her to Pippen is unfair to her.

They both quit. Comparison valid.

[ROXRAN]

Originally Posted by mc mark ROX I know there’s no hope for basso, but I’m hoping that you might have a different perspective of the article in light of the evidence of hypocrisy and apparent disingenuousness on the part of Ms Palin?

Absolutely, my goodness ...hypocrisy...apparent disingenuousness... she writes: Even Warren Buffett, an ardent Obama supporter, admitted that under the cap-and-tax scheme, "poor people are going to pay a lot more for electricity.", nothing like evidence that says otherwise, in fact... Obama, let's clear this up, thanks....http://www.youtube.com/watch?v=HlTxGHn4sH4