Decision facing India: Should they blow $5 trillion on the climate swindle?

India has, opposing the famous Nicholas Stern report, always stated that the cost of emission reductions -- a form of carbon tax -- would hurt Indian economy badly. The NCAER study seems to validate that claiming that any imposition of carbon tax will sharply reduce GDP with very little effect on per capita emissions. The cumulative economic losses could be the tune of US$ 5.2 trillion under a `revenue neutral' carbon tax of US $80 per tonne and a US $5.7 trillion would be borne by the country if the tax is revenue positive.

Republicans see opportunity in US climate bill fight | guardian.co.uk

WASHINGTON, June 29 (Reuters) - Republicans in the U.S. Congress, who warn that climate change legislation is the "biggest job-killing bill" ever, see a bright side: Some people who lose their jobs could be Democrat lawmakers who vote for the bill.
Holding minority status in both the Senate and House of Representatives after a disastrous showing in the 2006 and 2008 elections, Republican leaders think that Democrats might be writing a prescription for a Republican comeback in 2010 by passing a bill instead of curing an energy and environmental problem.
...
"The idea that you're going to have the biggest tax hike in American history in the middle of a severe recession is economic hara-kiri, it's just insane," said Nashville-based Dr. Richard Land, a leading figure in the social conservative movement, on his nationally syndicated radio show on Saturday.

Navigating a Minefield Part 1 | CCAN Blog

I’m pretty sure that from now until the Senate votes on a climate bill, Senate Majority Leader Harry Reid will look at what he’s going to have to do to get 60 votes for a measure, and add 30 seconds to his schedule every day where he takes a pillow and cries into it. The Senate is where legislation goes to die. As elated as I was at passing the Waxman-Markey bill out of the House, it hit me pretty fast that this was going to get ugly.