Meeting such targets would require Congress to pass its cap-and-tax plans, which will result in job losses and higher energy costs
Whether we decide to pass a Pigovian tax, which would be the preference of Greg Mankiw, or we go with cap-and-trade, the change in the relative price of energy would not lead to the kind of massive job losses that the rightwing liars such as Sarah Palin are asserting. But could someone kindly explain to Ms. Palin that there is no cap-and-tax proposal? We are talking about choosing between a tax plan versus a cap-and-trade plan.
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