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Manhattan Moment: Obama should not impose cap-and-trade through regulation

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President Obama has called inequality "the defining challenge of our time." But on June 2 he will announce new "cap-and-trade" environmental regulations that will make the poor a lot poorer and the rich a little less rich. Obama said in his January State of the Union Address: "Wherever and whenever I can take steps without legislation to expand opportunity for more American families, that's...

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