Cap and Trade

The UofWisconsin grad student who first proposed the idea of Cap and Trade now opposes it and questions whether it will work. He prefers emission taxes.

http://online.wsj.com/article/SB125011380094927137.html

I have always (well, since 1971 or so) thought the government should have taxes to cover the real cost of non-renewable resources and pollution. Cap and Trade seems like such a silly idea, especially on the global scale. There is still time for the Senate to reconsider the House plan.