Cap-And-Trade Loss A Stunner In Aussie Vote

From Investors.com

By TIM ANDREWS

Cap-and-trade in Australia — which just a week ago was declared a certainty — is officially dead.

Its passage was a certainty. The elite rejoiced.
But then a funny thing happened on the way to the Senate: The Australian public woke up.

The days that followed were simply stunning. An unprecedented, uncoordinated and spontaneous grass-roots campaign erupted to force the opposition to reverse course.
Political offices went into meltdown, unable to cope with the torrent of phone calls, faxes and e-mails opposing what was effectively a massive tax hike.

Cap-and-trade, a scheme initially promoted by Enron (I bet you didn't know that) to allow traders to profit at the expense of taxpayers, is currently before the U.S. Senate. According to the U.S. Treasury, this proposal includes between $100 billion and $200 billion in additional taxes a year, costing an additional $1,761 per family — equivalent to a 15% hike in the personal income tax.

A further report commissioned by the U.S. Senate has shown that the additional gas taxes in the proposal equate to $3.6 trillion by 2035. According to an analysis by the independent Heritage Foundation, once fully implemented this would lead directly to a staggering 2.5 million jobs lost.

Noel Shepard in an article for Media Research Center at News Busters asks: 


"How will our media cover this?   Stay tuned. "

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