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Raising prices without spending more?

Edison Electric Institute president Tom Kuhn said in an article in the National Review that energy bill proposals now before the Congress have to do something to protect consumers from higher prices.

If you gasped and said, “Say wha…?”, then you have the right idea.  In keeping with the galloping dementia of our ruling class, the Congress will now revise other undesirable features of reality so that borrowing money reduces debt and heavier objects weigh less.

Note to Mr. Kuhn: Pillaging consumers is the raison d’être for the energy bill.  The energy bill is a tax-and-spend scheme, period.  It will do absolutely nothing to help the climate, nothing meaningful to reduce dependence on oil imports, raise prices on everyone, hurt American economic interests everywhere, and put severe downward pressure on employment.  Well, this is what you’d expect to be the result of a big tax increase — never mind one enacted in the middle of recession.  And Mr. Kuhn is economist, of all things, and he above everyone should know that this tax scheme will ultimately result in a net decrease in federal revenue.  Maybe the idea that killing off businesses and jobs actually shrinks the tax base isn’t stressed in those Ivy League economics classes.

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