Cap'n Tax -- You Pay for Saving Rain Forests

We continue to look at Sprueill and Williamson's 50 most egregious components of the Waxman-Markey "Cap & Tax" climate change bill passed by the House (and soon to be considered by the U.S. Senate).

At its heart this is "wealth transfer" legislation. It will take money from the middle class and give it to big corporations (through government-issued carbon credits and subsidies) and the very poor (through government subsidies).

It will also transfer wealth from the United States to well-connected individuals, businesses and officials in foreign lands, as witnessed by what happens to some of the actual revenue generated by Waxman-Markey.

No.4 -- Money to Save or Plant Trees in Foreign Lands

To the extent that the allowances actually generate government revenue, that money is going to be used for fraud-inviting projects of dubious environmental or economic value. Example: Some allowance money will be used to “build capacity to reduce deforestation in developing countries experiencing deforestation, including preparing developing countries to participate in international markets for international offset credits for reduced emissions from deforestation.” What are the chances of that being abused?

This violates just about every principle of subsidiarity one could imagine. Why should Americans be taxed to pay people in foreign countries to stop cutting down their trees, or for planting new ones? They should do this on their own initiative, not because rich outsiders (and we are rich by comparison) are willing to pay them.

The potential for fraud and abuse is sky high. Who's going to be the watchmen for these projects, and who's going to watch the watchmen? It ain't you or me, babe.

This is one of those think locally, act globally inversions of logic that the Enviro-Left loves.

You get to pay for it.