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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
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1 posted on 11/08/2012 2:07:09 PM PST by ExxonPatrolUs
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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)
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To: ExxonPatrolUs

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


3 posted on 11/08/2012 2:11:13 PM PST by Sacajaweau (r)
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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
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To: ExxonPatrolUs

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


5 posted on 11/08/2012 2:12:38 PM PST by Sacajaweau (r)
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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
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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.)
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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
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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.")
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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.)
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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.)
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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..)
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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.)
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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)
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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)
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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.)
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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)
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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
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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
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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.)
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