How stupid are these people...
Obama to propose a $10-per-barrel oil tax for the 2017 budget to finance transportation projectshttps://t.co/1K3B0JB10J
— Bloomberg Markets (@markets) February 4, 2016
Obama to propose a $10-per-barrel oil tax for the 2017 budget to finance transportation projectshttps://t.co/1K3B0JB10J
— Bloomberg Markets (@markets) February 4, 2016
7 comments:
A bullshitting, community organizer who duped a nation. Hehehe. Give him a break, Matt.
We're hitting a brick wall in renewables. About 80% of the cost is borne by government subsidy ("investment") while 100% of the profits on small installations go to millionaire 1% (mostly on the west coast) and billionaire investors at the utility scale. The on-going profits are driven by "market" requirements that mostly poor and business users of the utilities subsidize the above market price sales of renewables to the grid. (I'm waiting to see grid-fraud--generating electricity but claiming it was renewable is highly profitable right now!) When it was on a small scale, it wasn't a big deal, but now that there is more renewables than non-renewables being installed, the economics don't work so well. Of course (in theory) the government doesn't spend OPM, they simply create new money by strokes of a key. Except in our current system where taxes fund spending, government can not be the monopoly supplier of anything and allow the abnormal rents to flow to their constituents without explicitly taking from another through taxes. Oil companies are widely despised among the left, so they make a good target and no voter with any sense in any oil state would likely ever vote for a Dem anyhow, so this just good politics, IMO.
And Mal the current tax is per gal. so with the monopoly rent removed and now people able to drive more, the tax revenues are going to increase without even doing anything anyway...
The lame duck phony is wasting his breath. He has no chance of advancing this tax and he knows it. Me thinks he just likes hearing the sound coming out of his won pie hole.
Not to mention fresh fodder for the campaign trail later this year...
Yeah, but the only way we can fund these projects is by tax tax tax like this or cutting Social Security benefits ya know :)
Everyone knows the proposal is DOA. It's handwaving to burnish his legacy. He'll be able to write in his memoirs "I tried to tax carbon but those mean ole Republicans wouldn't let me, so don't blame me for global warming."
Even if the tax passed it would have no impact on carbon consumption. So oil would cost $45 instead of $35, big woopee-doo. If you want to reduce consumption then rationing and regulation are the surest and fairest ways to to it.
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