Eco-Tax Imperialism Imperils Midwest

Indiana says no thanks to cap and trade: No honest person thinks this will make a dent in climate change. Gov. Mitch Daniels, WSJ:

Quite simply, it looks like imperialism. This bill would impose enormous taxes and restrictions on free commerce by wealthy but faltering powers -- California, Massachusetts and New York -- seeking to exploit politically weaker colonies in order to prop up their own decaying economies. Because proceeds from their new taxes, levied mostly on us, will be spent on their social programs while negatively impacting our economy, we Hoosiers decline to submit meekly.

The Waxman-Markey legislation would more than double electricity bills in Indiana. Years of reform in taxation, regulation and infrastructure-building would be largely erased at a stroke. In recent years, Indiana has led the nation in capturing international investment, repatriating dollars spent on foreign goods or oil and employing Americans with them. Waxman-Markey seems designed to reverse that flow. "Closed: Gone to China" signs would cover Indiana's stores and factories.

Waxman is the congressman for limousine liberal Beverly Hills, Markey from the environs of Boston. As Gov. Daniels says, those who make real products will suffer. As will those who consume them. Jobs will be lost and the cost of everything will go up if we appease these elitist potentates.