Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says
Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.My personal opinion is that this may not be a bad thing, one of the reasons that the Obamessiah got another term is because there is a large percentage of people who don't pay any taxes.
A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.
Hurricane Sandy sparked discussion on climate protection in the election after presidential candidates focused on other debates, HSBC said. A continued Republican majority in the U.S. House of Representatives means Obama’s scope for action will be limited, Robins said. Cap-and-trade legislation stalled in the U.S. Senate after narrowly passing the house in 2009.
As a matter of fact, with Earned Income Credits there is a large percentage that get back way more than a refund for over payment.
They have no "skin in the game" and basically voted to keep the status quo.
With a carbon tax no one could escape the rise in energy costs as they are passed onto the consumer. It'll trickle down until it affects everyone, even the ones who voted for more free sh*t.
As a matter of fact I think it's time to go back to the way it used to be, if you get a paycheck (no matter how big or small) you pay a percentage to the federal government. No more robbing from wealthy taxpayers to pay undeserved benefits to another.
That way everyone is invested in how and for what the government spends our money on.
I doubt last nights results would be the same if everyone feels the pain of confiscatory taxes by commie, liberal democrats.