Perhaps it is bad manners to suggest that the poor themselves might
prefer higher incomes rather than the EPA’s form of carbon justice. U.S.
economic growth is already much slower than it should be, and the new
EPA climate-change rule will make it worse by subtracting billions of
dollars every year from potential GDP by misallocating capital and
undermining business confidence. This will result in few opportunities
and smaller wage gains, with damage to the poorest Americans in
particular.
For these reasons, a recent study commissioned by the National Black
Chamber of Commerce estimates that the EPA plan will increase the black
poverty rate to 32% in 2025 from 26% today. Hispanic poverty will rise
to 29% from 23%. No fewer than 28 states raised such economic hardships
in their comments to the EPA, to no avail.
The contradiction of modern climate liberals is that they promise
lower energy bills and a wind-and-solar jobs boom, with zero trade-offs.
But then they demand more redistribution to mitigate the economic and
human damage that are the real outcome of their policies. Instead of
offering to weatherize the homes of the least fortunate, how about
trying to increase prosperity? " (THE WALL STREET JOURNAL)
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