Should America punish itself with Cap and Trade if the biggest offenders, China and India will not change?

Yesterday the EPA and MIT concluded that the Waxman's Cap and Trade bill will no nothing to reduce overall CO2 emissions if only the U.S. enacts such restrictions. And yesterday at the global conference, China and India disagreed with the global warming science concerning CO2. Why should American taxpayers suffer for the "so-called enviro sins" of the rest of the world?