Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Obama may levy carbon tax to cut U.S. deficit, HSBC says
Washington Post ^ | 11-7-2012 | Mathew Carr and Bloomberg News

Posted on 11/08/2012 2:07:04 PM PST by ExxonPatrolUs

Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc. A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Cap-and-trade legislation stalled in the U.S. Senate after narrowly passing the house in 2009.

(Excerpt) Read more at m.washingtonpost.com ...


TOPICS: Chit/Chat
KEYWORDS: carbon; deficit; hsbc; tax

1 posted on 11/08/2012 2:07:09 PM PST by ExxonPatrolUs
[ Post Reply | Private Reply | View Replies]

To: ExxonPatrolUs
Obama may levy carbon tax to cut U.S. deficit, HSBC says

Pardon me if I'm incorrect, but doesn't congress levy taxes? Did someone tell 0bama that he was elected emperor on Tuesday and can do as he pleases?

2 posted on 11/08/2012 2:09:24 PM PST by The Sons of Liberty (Never Underestimate the Power of Evil or Evil Doers)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs

ba***********


3 posted on 11/08/2012 2:11:13 PM PST by Sacajaweau (r)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Sons of Liberty
Pardon me if I'm incorrect, but doesn't congress levy taxes?

Nope! King Obama is a total dictator and his Staff of communists or his pen can do anything. There is no longer procedure for the use of the Senate or House and hasn't been for a long time.

4 posted on 11/08/2012 2:12:27 PM PST by Logical me
[ Post Reply | Private Reply | To 2 | View Replies]

To: ExxonPatrolUs

Why not cut the EPA budget....to 0.


5 posted on 11/08/2012 2:12:38 PM PST by Sacajaweau (r)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Sons of Liberty

If you consider that Bohner is the speaker...


6 posted on 11/08/2012 2:13:20 PM PST by ABQHispConservative
[ Post Reply | Private Reply | To 2 | View Replies]

To: ExxonPatrolUs

I suppose the Senate could try to eliminate the filibuster rule and pass the 2009 version of the House bill. But that sounds very, very suspect to me. Maybe even John Roberts wouldn’t bless it. Then again, who knows.


7 posted on 11/08/2012 2:17:47 PM PST by cvq3842 (Thanks for all responses, and flames, in advance.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs
It'd be a damned shame if this seemingly intractable globull warming problem were to cause the spontaneous combustion of EPA offices nationwide.

OhNoes !

8 posted on 11/08/2012 2:21:28 PM PST by tomkat
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs

Well, look at the bright side. At least its regressive and will hit the bottom 50% that pay no income tax the hardest.

Sorry to everyone who drives a lot, though.


9 posted on 11/08/2012 2:25:23 PM PST by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: cvq3842

“I suppose the Senate could try to eliminate the filibuster rule and pass the 2009 version of the House bill.”

It’s my understanding that a Bill passed by only one chamber in a previous session of Congress dies with the end of that session. The Senate could do as you say, but only if the current House passes it again, which is unlikely, imo.


10 posted on 11/08/2012 2:27:26 PM PST by Let_It_Be_So (Once you see the Truth, you cannot "unsee" it, no matter how hard you may try.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: ExxonPatrolUs

With exemptions for the Obama voters? Otherwise, they are cutting off their own chances. Or are they counting on Boehner to stop it and using it for an issue in 2014?


11 posted on 11/08/2012 2:28:00 PM PST by Ingtar (Everyone complains about the weather, but only Liberals try to legislate it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Let_It_Be_So

POS Reid will deem it passed and His Excellency will enact it. If not, he will issue one of his executive orders which no one will vote to kill.

It is nice to be king.


12 posted on 11/08/2012 2:30:00 PM PST by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
[ Post Reply | Private Reply | To 10 | View Replies]

To: ExxonPatrolUs

“Barack Obama may consider introducing a tax on carbon emissions..”

Obama could find one of his legislative lackeys to introduce a Bill that would levy a tax on organ grinder monkeys if he wanted to do so. Getting such a bill passed by the House is a horse entirely of a different color.


13 posted on 11/08/2012 2:31:43 PM PST by Let_It_Be_So (Once you see the Truth, you cannot "unsee" it, no matter how hard you may try.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs

Clintoon tried this with the BTU tax.


14 posted on 11/08/2012 2:34:57 PM PST by Eric in the Ozarks (In the game of life, there are no betting limits)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs

must get Cap and Trade done any way they can


15 posted on 11/08/2012 2:35:28 PM PST by blueyon (The U. S. Constitution - read it and weep)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs
Inhaling is free. Exhaling will cost you a dollar.

-PJ

16 posted on 11/08/2012 2:35:42 PM PST by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs
All this destruction and even this only promises to "Halve the deficit by 2022" ?Only halve the annual credit spending in the next ten years....and you know that is a lie.

America is over.

17 posted on 11/08/2012 2:36:47 PM PST by SENTINEL (Election 2012....One more false prophecy by FLDS/LDS "prophet" Joseph Smith)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs

Whew! I’m glad that’s solved.

Wow, Obama solved global warming and the deficit problem in one swell foop. I shoulda voted for him.


18 posted on 11/08/2012 2:45:45 PM PST by Rinnwald
[ Post Reply | Private Reply | To 1 | View Replies]

To: SENTINEL

Yup....and then they will say they need a VAT tax. And then they will come after our 401ks. Bet on it !


19 posted on 11/08/2012 2:46:14 PM PST by LongWayHome
[ Post Reply | Private Reply | To 17 | View Replies]

To: ExxonPatrolUs

Great, tax EVERYTHING into standing still. Bright idea!


20 posted on 11/08/2012 2:47:47 PM PST by A CA Guy ( God Bless America, God bless and keep safe our fighting men and women.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Let_It_Be_So

Thanks - I agree.


21 posted on 11/08/2012 2:47:47 PM PST by cvq3842 (Thanks for all responses, and flames, in advance.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: ExxonPatrolUs
A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021,

Madness even to suggest! I bet it wouldn't raise a penny ... just destroy a huge number of industries and plunge the Union of Socialist States of America into a great depression so bad as to make the 1930s seem prosperous by comparison.

22 posted on 11/08/2012 2:49:55 PM PST by ArrogantBustard (Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Sons of Liberty

Yes you are incorrect. After 930 Executive orders you ask that? Dictators do not need a Congress to rubber stamp their edicts.


23 posted on 11/08/2012 2:59:54 PM PST by Graneros (The most fundamental purpose of government is defense, not empire. – Joseph Sobran)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Opinionated Blowhard

What makes you thing that the central planners wouldn’t exempt the takers?


24 posted on 11/08/2012 3:01:06 PM PST by JewishRighter
[ Post Reply | Private Reply | To 9 | View Replies]

To: LongWayHome
"Yup....and then they will say they need a VAT tax. And then they will come after our 401ks. Bet on it !"

Just like Argentina a decade back.


25 posted on 11/08/2012 3:04:44 PM PST by SENTINEL (Election 2012....One more false prophecy by FLDS/LDS "prophet" Joseph Smith)
[ Post Reply | Private Reply | To 19 | View Replies]

To: SENTINEL

I do remember when Argentina went after all their citizens savings.


26 posted on 11/08/2012 3:10:56 PM PST by LongWayHome
[ Post Reply | Private Reply | To 25 | View Replies]

To: ExxonPatrolUs
How about a taxpayer revolt?

How about SHAMING Obama minions for giving away free stuff we can't afford? How about showing their nice stuff on tv hourly? OK, Democraps control tv but not youtube.

27 posted on 11/08/2012 3:14:04 PM PST by Missouri gal
[ Post Reply | Private Reply | To 1 | View Replies]

To: Missouri gal

I say let ‘em have everything they want. Let them collapse the economy and country under the weight of government and ignorance. Let the cities burn. Let the takers in society starve through their own stupidity. It is simple Darwinism in action at this point.

In the words of Hank Williams Jr., “A country boy can survive.”


28 posted on 11/08/2012 4:12:29 PM PST by FerociousRabbit
[ Post Reply | Private Reply | To 27 | View Replies]

To: ExxonPatrolUs
"....this would halve the fiscal deficit by 2022,"

I agree. !!2022!! These jokers have no idea how close to the cliff we are. Looks like none of them took math or understand exponential functions. We could eliminate ALL federal departments and agencies and services, keep the tax revenue the same..... and STILL need to borrow billions to pay for the entitlements.

They haven't a clue. It's straight math, not politics. Margaret Thatcher had the guts to slash spending. But then, you have to have the guts to weather severe unemployment, loss of services, rioting, etc. Nobody in Washington has her courage to do what is necessary.

29 posted on 11/08/2012 4:33:18 PM PST by Scooter100 ("Now that the fog has lifted, I still can't find my pipe". --- S. Holmes)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ExxonPatrolUs

Despite the fact that it is Congress that levies taxes (at least historically and according to the Constitution), does anyone see the hypocrisy in a carbon tax?

1) It does nothing for carbon emissions - all heavy emitters have to do is buy credits from others!
2) There is absolutely NO link between atmospheric carbon dioxide levels (they have been going up in the last few years) and so-called global warming (global temperatures have been going down in the last few years).

It would make more sense to institute a tax on oxygen usage - at least then there would be no pretense that it was accomplishing anything but raising money for our morally and fiscally bankrupt politicians.

Oops, I probably shouldn’t give them any ideas for additional taxes.


30 posted on 11/08/2012 4:51:58 PM PST by jda ("Righteousness exalts a nation . . .")
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson