July 7, 2007
EV...:
Counting on Failure, Energy Chairman Floats Carbon Tax (EDMUND L. ANDREWS, 7/07/07, NY Times)
A powerful House Democrat said on Friday that he planned to propose a steep new “carbon tax” that would raise the cost of burning oil, gas and coal, in a move that could shake up the political debate on global warming.The proposal came from Representative John D. Dingell of Michigan, chairman of the House Energy and Commerce Committee, and it runs directly counter to the view of most Democrats that any tax on energy would be a politically disastrous approach to slowing global warming.
But Mr. Dingell, in an interview to be broadcast Sunday on C-Span, suggested that his goal was to show that Americans are not willing to face the real cost of reducing carbon dioxide emissions. His message appeared to be that Democratic leaders were setting unrealistic legislative goals.
The GOP could score spectacularly by embracing the consumption tax as a Green measure and proposing income tax offsets for the middle class, forcing Democrats to vote against Nature and the voters. Posted by Orrin Judd at July 7, 2007 1:04 PM
As if nobody over the age of 30 wouldn't know that sure as the sun rises in the East, in a few years the "green offset" would be gone and we'd have a consumption tax on top of the income tax.
Ask anybody who was a taxpayer in 1986, when they eliminated most deductions in exchange for eliminating the various tax brackets & lowering the rates. In a few years, the rates had crept back up, there were as many brackets as before----but the deductions were still gone.
Let's start building those nuclear power plants pronto.
Posted by: erp at July 7, 2007 4:25 PMerp:
There may be 30 or so under construction by 2010. The critical path issues now are the large forgings required (have to be done in either France or Japan), and the personnel needs at the NRC (from what I have heard, they can only review two or three license applications at a time). That will have to change.
Posted by: jim hamlen at July 7, 2007 5:14 PMThose under 30 pay less in taxes than their father or grandfather did and it's falling. They're the easiest to convince. They don't even know what high tax rates were.
Posted by: oj at July 7, 2007 5:45 PMThe top tax rate was 90% from 1944-1963 and 70% from 1964-1981. Assuming one starts paying taxes at age 18, nobody younger than age 44 will have a memory of paying confiscatory tax rates.
Posted by: Gideon at July 7, 2007 9:55 PMNevermind confiscatory.
Posted by: oj at July 8, 2007 7:11 AMThe problem is everything will change in a bad way if the Dems get in. The only way they can hold on to power is if we, the people, perceive ourselves as weak and powerless.
Let's forge what we need at home and get some people who can process the paperwork a lot quicker.
Posted by: erp at July 8, 2007 7:19 AMComparing federal marginal tax rates from periods past with today won't yield much useful information. Personal exemptions adjusted for inflation, regulatory costs along with the tax bite from state and local income and sales taxes as well as federal payroll taxes might give a better picture regarding the total cost of government as a percent of all economic activity. There is no comparison in that regard. The total cost is much higher today.
Posted by: green eye shades at July 8, 2007 5:18 PM