i don't think I understand this
How do you create $3 tril in "
value" to be 'returned to the people' from nothing but air? Like money I guess, everyone just decides air (or pieces of paper) has value and away you go. Bizarre. Reminds me of the Cloaca Machine.
Quote:
Here's why: Essentially, presidential candidates John McCain, Barack Obama and Hillary Clinton, leading Democrats and moderate Republicans in Congress, dozens of Fortune 500 CEOs, and mainstream environmental groups all agree that a so-called cap and trade system to regulate greenhouse gases is needed to fight global warming program. That, by itself, is remarkable.
Ask where that money should go, and the consensus breaks down. Coal-burning utilities say they should be given the permits for free - otherwise, they argue, their customers will be whacked with much higher bills. Others, including candidates Obama and Clinton, say all the permits should be auctioned - why reward the polluters, they ask? Still others want auctions so that proceeds can be used for a variety of causes, ranging from investments in renewable-energy research to middle-class tax cuts to paying down the federal debt.
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Climate change regulations will generate $3 trillion. - May. 15, 2008
