Fresh off his thundering condemnation of “treason against the planet,” Paul Krugman has a written a blog post on the subject of that trade provision in the Waxman-Markey cap-and-trade bill. Here’s the shorter version of Krugman’s argument:
The goal of Waxman-Markey is make the cheapest form of energy we have more expensive, consequently making everything produced in this country more expensive. It would defeat the purpose of this legislation to allow U.S. consumers to evade this energy tax by purchasing products from countries like China that choose not to adopt a similar tax. Therefore, it makes perfect sense to restrict Americans’ access to products from these countries, and the president is wrong to oppose such restrictions. What about that don’t you dumb hicks understand? *
To which I reply: Please, please keep making this argument. As loudly as you can.
* Update: In the original post, I put the “shorter Krugman” in quotation marks. Apologies to all who thought this was an actual quote from Krugman’s post.