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How the Debt Ceiling Deal Might Pave the Way for a Carbon Tax

How the Debt Ceiling Deal Might Pave the Way for a Carbon Tax

 

What does the debt ceiling deal worked out this week mean for future climate change legislation? It’s no secret that cap-and-trade is dead in the proverbial water. The Center for American Progress (CAP) thinks that the debt ceiling deal “warmed up hopes for a carbon tax.” The reason is simple: the deal excluded revenue increases and tax code reforms which “means a grand bargain is still on the table.” CAP believes that Democrats will insist on revenue increases as part of the post elections debt ceiling deal.

In addition, Obama will have “have maximal leverage right after the 2012 election when the Bush tax cuts are poised to expire if no positive action is taken,” as a CAP post put it. Obama could trade the Bush tax cuts and the corporate tax rate reduction for a carbon tax.

When asked about a carbon tax during a 2007 interview with Grist, President Obama said, “a carbon tax accomplishes much of the same thing that a cap-and-trade program accomplishes.” However, he went on to say that one of the mistakes in the European Union system is that the “too many of those permits” are given away. “So as I roll out my proposals for a cap-and-trade system, I will price permits so that it has much of the same effect as a carbon tax.”

Not sure if a carbon tax will really reduce greenhouse gas emissions? Look at Sweden, which enacted a carbon tax in 1991. In 2009, Sweden’s greenhouse gas emissions were 17 percent below 1990 levels. The annual GDP growth rate in 2010 was 5.5 percent.

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36 comments

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12:12PM PDT on Aug 13, 2011

I'm all for cleaning up the air and the environment. I'm not sure how a new carbon tax is going to stop polluters from continuing their assault on all of us. It would be lovely if these same companies didn't own our government. I wonder if this is just another political ruse to make it APPEAR as though some politicians are doing something to stop pollution and clean it up. I see a few people making better salaries on these funds while actual monies to pay for prevention and cleanup are minimal. Meanwhile, the pollution continues to grow while more trees are felled for paper for laws that have as much bite as a toothless Chihuahua.

9:03AM PDT on Aug 12, 2011

The recent research does not support the UN conception of global warming. Carbon taxes for something that a present looks very doubtful to be true is not to bright. If you look at the individuals (like Al Gore) it looks a lot like a money scam. I do not know maybe we should have them and give Al Gore billions of dollars which he has positioned himself to receive if this were to go through. I am sure everyone knows that Gore is the controlling share holder of OXY petroleum the forth largest oil company in the US. Just a side note he also bought an 8,000,000 dollar beach house Along the California Coast. Hmm sea level rise supposive extreme weather, maybe he knows something we don't or maybe it is a scam, after all he has spent 300,000,000 dollars to convince us. Let not forget the polar bears whose drown opps that's right the scientist involved in that study has been called up on ethics charges due to his study being false.
Carbon tax money are an awful idea. If you have a car get taxed, if you have children get taxed, if you have a garden get taxed, a dog, a cat, compost pile, etc...
our government in the last several years tried to ram through legislation that would do things like have EPA inspectors in every home, and fine you if you do not comply. Can we say by a new furnace, dish washer, dryer, TV. ETC....
The whole Idea of carbon taxes was created by Ken Lay of Enron (yes the one who went to jail and died there). He was a close friend of Al Gore. Gore t

3:31AM PDT on Aug 11, 2011

Even if you do NOT believe than human activity contributes to global warming at all--a carbon tax is at least no dumber than the excise tax we used to have on long distance phone calls from shortly after World War II until around 1980 on the grounds that long distance phone calls were a luxury.

1:04AM PDT on Aug 11, 2011

i urge everyone to see the documentary "Fall of the Republic" it answers a lot of your questions about the global warming and carbon tax plans.

Carbon tax is essentially a tax on breathing for the individual. And with the debt ceiling maturing soon, a new form of tax would be needed to milk the people adn keep the government afloat.

12:15AM PDT on Aug 11, 2011

The Australian government is going to introduce a carbon tax from July 2012 (subject to legislation being passed). The anouncement has really bought the Climate change debate to the fore. Albeit, mostly whinging.

12:11AM PDT on Aug 11, 2011

"Not sure if a carbon tax will really reduce greenhouse gas emissions? Look at Sweden, which enacted a carbon tax in 1991. In 2009, Sweden’s greenhouse gas emissions were 17 percent below 1990 levels. The annual GDP growth rate in 2010 was 5.5 percent."
Read more: http://www.care2.com/causes/how-the-debt-ceiling-deal-might-pave-the-way-for-a-carbon-tax.html#ixzz1UhZmR2oE

That's a start for less carbon emissions and most of it probably for cleaner air and living too.

4:51PM PDT on Aug 10, 2011

@ Steve R----Good for you that you don’t mind the contaminated air, the Gulf of Mexico destruction, the ongoing oil spills that a "dumb" carbon tax would offset. I would mention that Sweden provides full medical care, including dental. When I worked there I had one of the poorer paid jobs. {goldsmith}, It was necessary for a goldsmith’s wife to also have a job. Of course that wouldn’t be necessary in the low or no tax US, would it ?

2:24PM PDT on Aug 10, 2011

Raise gas to $10 a gallon, the simplest and quickest way to bring in a carbon tax. Would also reduce CO2 output and keep people at home growing vegetables.

2:20PM PDT on Aug 10, 2011

thanks

1:34PM PDT on Aug 10, 2011

To Tracey,

We all need to open our eyes and see that over the last 50 years BOTH parties have put us in the turmoil oil we are currently in. STOP VOTING REP OR DEM AND GIVE THE OTHER PARTIES A CHANCE IF YOU REALLY WANT CHANGE!!!!

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