Friday, June 26, 2009

Trade War with China and India in the Cap-and-Tax Bill

You have got to be kidding about this Cap-and-Destroy the Economy Bill. There is a trade clause in the thing that might start a trade war with China and India.

But it isn't clear how much of the sprawling House bill will survive in the Senate, where moderate Democrats and Republicans could form a majority that backs less ambitious action. Among the potential problem areas: the House bill has a provision that would impose tariffs on goods imported from countries that don't match U.S. carbon dioxide restrictions -- a slap at China and India that some business interests fear could provoke a trade war.

Oh yes, that means it is a trade war with just about every country in the world except for a handful like Iceland and Sweden. This is not just kind of like Smooth-Hawley this IS Smoot-Hawley all over again.

That Tariff caused a trade war that wrecked the world economy for decades and indirectly led up to WW2. This asinine Cap-and-Trade War bill will act in exactly the same way as China and India retaliates against us. The Senate better kill this piece of crap or the world will pay the consequences.

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