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Bailout bill includes Hidden Carbon Tax Provisions

October 2, 2008
Marc Morano Reports 

Excerpt: If you look at page 180 of the 451-page monster bailout bill that easily passed the Senate yesterday (PDF here), you will see that it includes at Section 116 language about the tax treatment of "industrial source carbon dioxide." It also provides, at Section 117, for a "carbon audit of the tax code."  What could a provision about the tax treatment of "industrial source carbon dioxide" and another provision about doing a "carbon audit" of the tax code possibly have to do with restoring confidence in Wall Street's troubled credit markets?

 The answer: NOTHING. This appears to be an attempt by global warming fanatics to lay the foundation for an economy-killing carbon tax just like the "cap-and-tax" system that is now destroying European industry.

http://www.capitalresearch.org/blog/?p=950

GREEN ALERT: Hidden Carbon Tax Provisions in Paulson's Bailout 2.0

October 2nd, 2008 by Matthew Vadum

Why is the mainstream media ignoring what might be the most earth-shattering provisions in Treasury Secretary Henry Paulson's Bailout Package Version 2.0?

If you look at page 180 of the 451-page monster bailout bill that easily passed the Senate yesterday (PDF here), you will see that it includes at Section 116 language about the tax treatment of "industrial source carbon dioxide." It also provides, at Section 117, for a "carbon audit of the tax code."

What could a provision about the tax treatment of "industrial source carbon dioxide" and another provision about doing a "carbon audit" of the tax code possibly have to do with restoring confidence in Wall Street's troubled credit markets?

The answer: NOTHING.

This appears to be an attempt by global warming fanatics to lay the foundation for an economy-killing carbon tax just like the "cap-and-tax" system that is now destroying European industry.

If you think the Mother of All Bailouts is bad, just wait till you see the carbon tax. Get ready to reduce your standard of living drastically.

It really shouldn't be a surprise that these non-germane provisions are included in legislation that is supposed to save all of us from economic Armageddon.

After all, Henry Paulson is a confirmed environmentalist and global warming true-believer who abused his power at Goldman Sachs. While Paulson headed Goldman Sachs he simultaneously headed the Nature Conservancy and his wife was a former Conservancy board member. (See "In Goldman Sachs We Trust: How the Left's Favorite Bank Influences Public Policy," by Fred Lucas, Foundation Watch, October 2008.)

Henry Paulson presided over Goldman Sachs's donation of 680,000 acres of land it owned in Tierra del Fuego, Chile to the New York-based Wildlife Conservation Society.

One of the trustees of the Wildlife Conservation Society was H. Merritt Paulson, the son of Henry Paulson.

As green critic Paul Driessen observed, at no time did anyone "assess the vast area's potential value for timber, oil or metals, so that locals and [Goldman Sachs] shareholders would at least know the true cost of the giveaway."

And the media tells Americans to trust Henry Paulson to do the right thing when doling out taxpayer dollars to his former colleagues on Wall Street?

The media needs to start asking hard questions.

(Hat tip to Paul Chesser, of Center for Climate Strategies Watch, as posted at AmSpecBlog)

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