I am starting to lose track here. President Obama wants to raise investment and income taxes on so-called wealthier Americans. Check. There is talk in Washington of a value-added tax to help fund healthcare. Check. And now, according to Reuters, the Obama White House is confirming that it's their intent that there will be a cap-and-trade plan in effect and generating revenue by 2012. New environmental regulations to reduce carbon emissions will raise costs to businesses and consumers as companies have to buy carbon allowances from Uncle Sam. Now this is a less transparent system than a straight carbon tax. What's more, lots of people advocating carbon taxes would offset those tax increases with a cut in payroll taxes. Tax carbon, not work. But a cap-and-trade is just another moneymaker for the government to then spend on "green" initiatives. Unless we get a carbon tax on top of cap-and-trade ...
Capital Commerce
White House: Green Taxes by 2012 Via Cap-And-Trade System
advertisement
Ken Coghill @ Feb 28, 2009 20:08:27 PM