The American Spectator

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The Public Policy

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So is it any surprise then that environmentalist Paulson did not object when Senate Finance Committee chairman Max Baucus (D-Montana) inserted carbon tax-related provisions in the final version of the bailout bill? Section 116 of the legislation provides preferential tax treatment for publicly-traded partnerships when they trade so-called carbon offsets, and Section 117 provides for a “carbon audit of the tax code.”

The measure, signed into law Oct. 3, appears to be an attempt by global warming activists to lay the foundation for an economy-killing carbon tax just like the “cap-and-tax” system that is now destroying European industry.

And Goldman will clean up no matter what happens to the U.S. economy.

topics:
Election 2008, Hank Paulson, Economics