Always and everywhere, government being short of cash is never a revenue problem — it is always a spending problem.
The default mentality of any human being spending money should be:
“If I am out of money – I should spend less.”
Government has zero dollars — until it takes money from We the People. So the default mentality of government DEFINITELY should be:
“If we are out of money – we should spend less.”
But of course government never, never thinks that way.
“A carbon tax is paid by businesses and industries that produce carbon dioxide through their operations. The tax is designed to reduce the output of greenhouse gases and carbon dioxide, a colorless and odorless incombustible gas, into the atmosphere. The tax is imposed with the goal of environmental protection.”
The other goal is, of course, to allow government to take even more money from US.
But BBB proponents say the point of a huge swath of the BBB bill is to impose all sorts of new mandates, restrictions, and regulations on US — in the name of environmentalism and saving the planet.
The bill will already be dramatically diminishing our economy in the name of the environment — so why pile on even more with a carbon tax?
Given the entire planet shares the same climate, shouldn’t we instead impose a carbon tax on countries doing FAR less self-flagellation than are we in the name of addressing climate change?
We beat ourselves up….
Huge economy countries like, say, China, Russia, and India? Not so much.
When the going gets tough? China, Russia, and India forget the environmentalism — and remember regular energy policies.
“China will loosen blanket restrictions on energy consumption in order to ensure environmental and climate targets do not erode future economic growth….”
Their lack of environmental self-imposition often goes to insane extremes.
So the US piling on a carbon tax on the US is an exceedingly terrible idea. Instead? Let’s do what we first recommended in February 2017….
“A carbon border adjustment tax is a duty on imports based on the amount of carbon emissions resulting from the production of the product in question. As a price on carbon, it discourages emissions. As a trade-related measure, it affects production and exports.”
The US imposing a carbon tax on US will export lots and LOTS of companies and jobs. Taxing them and not US will do exactly the opposite:
“Instead of taxing exports and not imports, we’d be taxing imports and not exports. Instead of reading about corporate inversions and outsourcing, we’d be reading about jobs and firms moving into the U.S. to take advantage of the favorable tax rules here.”
We’re the only country imposing any real economic limits in the name of climate change.
Therefore, we should be the only country NOT paying a carbon tax.