Just like when you read about Warmists saying a carbon tax is “free market”, be beyond skeptical when they say it is “revenue neutral”
A NEW ‘CARBON FEE’ PROPOSAL COULD HIKE TAXES BY MORE THAN $1 TRILLION
The bipartisan House Climate Solutions Caucus claims it is pushing a “revenue-neutral†carbon tax, but legislation proposed Thursday would hike taxes by at least $1 trillion over the next decade, according to Paul Blair, director of strategic initiatives for the right-leaning policy institute Americans for Tax Reform.
Florida Reps. Ted Deutch, a Democrat, and Francis Rooney, a Republican, reintroduced a bill Thursday that would place a $15-per-ton tax on carbon emissions in 2019. The tax would rise by $10-a-year increments until it hits nearly $100 per ton.
“To let the free market price out coal we should consider value pricing carbon,†Rooney saidin a statement. “A revenue-neutral carbon fee is an efficient, market- driven incentive to move toward natural gas and away from coal, and to support emerging alternate sources of energy.â€
Though Rooney claims the tax is “revenue-neutral,†the plain text of the bill does not include any reciprocal tax cuts to balance out the burden of the added tax on emissions, Blair told The Daily Caller News Foundation.
The Climate Solutions Caucus, co-led by Deutch and Rooney, claims the bill is “revenue-neutral†through carbon dividends. The IRS will pay out the funds raised by the tax to U.S. households, giving “100 percent of net revenues to the American people†and maintaining the bill’s revenue neutrality.
“Historically and for anyone engaged in tax policy, the definition of ‘revenue-neutral’ is and always has been if you increase a tax, the amount of revenue it generates must be offset by an equal tax cut elsewhere,†Blair said.
The left-leaning Tax Policy Center shares Blair’s view, defining a “revenue-neutral†tax proposal as one “in which provisions that raise revenues offset provisions that lose revenues so the proposal in total has no net revenue cost or increase.â€
Essentially, people are going to pay more in taxes even if the government refunded 100%. Which we all know will never happen. Oh, some people will get some money back, which makes them more reliant on government. Funny how that works, eh? First, government programs cause an increase in the cost of living in all aspects, energy, food, transportation, housing, and so much more. Plus taking more money directly out of your pocket. Then, they give you some of that money back to offset what the government caused. But, you need that money, so now you look more towards government help.
Really, if it is predicted to be $1 trillion over 10 years, you can bet that in the Real World it will be many times more than that.
BTW, gotta love the double shot of free market and revenue neutral.
