04/06/2017

Enough Protection Already

John Stossel, Rasmussen Reports

"Trump may have just signed a death warrant for our planet!" warns CNN host Van Jones.

"Disaster for Clean Water, Air," says the Environmental Working Group.

Give me a break.

Regulation zealots and much of the media are furious because President Donald Trump canceled Barack Obama's attempt to limit carbon dioxide emissions. But Trump did the right thing.

CO2 is what we exhale. It's not a pollutant. It is, however, a greenhouse gas, and such gases increase global warming. It's possible that this will lead to a spiral of climate change that will destroy much of Earth!

But probably not. The science is definitely not settled.

Either way, Obama's expensive regulation wouldn't make a discernible difference. By 2030 -- if it met its goal -- it might cut global carbon emissions by 1 percent.

The Earth will not notice.

However, people who pay for heat and electricity would notice. The Obama rule demanded power plants emit less CO2. Everyone would pay more -- for no useful reason.

I say "would" because the Supreme Court put a "stay" on the regulation, saying there may be no authority for it.

So Trump proposes a sensible cut: He'll dump an Obama proposal that was already dumped by courts. He'd also reduce Environmental Protection Agency spending by 31 percent.

Good!

Some of what regulators do now resembles the work of sadists who like crushing people. In Idaho, Jack and Jill Barron tried to build a house on their own property. Jack got permission from his county. So they started building.

They got as far as the foundation when the EPA suddenly declared that the Barrons' property was a "wetland."

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In Search Of History

The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

-- Daniel J. Mitchell,

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