| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Steven Milloy: Carbon Tax Will Kill The Economy, Boost Inflation
Article Tags: Carbon Trading, Steven Milloy
Climate alarmists hope that Hurricane Sandy and President Obama’s re-election will coerce panicky congressional Republicans into a “carbon tax” deal in 2013. But simple math shows the tax would have no effect other than an inflationary one.
A carbon tax would operate as a new sales tax on goods and services that are produced through or otherwise involve the burning of fossil fuels. You might pay the tax in your electric bill, at the gas pump or in the form of higher prices for other good and services.
The purpose of a carbon tax would be to penalize fossil fuel use in hopes of reducing carbon dioxide emissions, which have been hypothesized to cause global cooling (1970s), global warming (1980s-1990s), climate change (2000s) and extreme weather (2010s).
While higher prices for goods and services aren’t inherently evil, their merits must be judged by what consumers and society get in return. So let’s consider a carbon tax from a climatic perspective.
To give a carbon tax the maximum advantage in our analysis, we’ll assume that it would be totally successful in reducing U.S. carbon emissions — i.e., the U.S. emits no carbon dioxide whatsoever from fossil fuels. And let’s also imagine that this public policy wonder has this magical effect as of Jan. 1, 2013.
Source: news.investors.com
2012-11-15 04:48:07
Source:
