Tuesday, September 10, 2019

Democrats want you to pay more than $500 a year extra for energy

While the scientific evidence shows that mankind, and you in particular, aren't causing the earth to warm significantly Democrats want to scare you into paying huge tax increases so that they can control more of your money.

The leading Democrat Presidential candidates, including Biden and Warren, are calling for a carbon tax.  That's such an extreme proposal that Hillary rejected it back in 2016.

Her internal analysis showed that a carbon tax would be horrible for America.  That's not surprising since an energy tax, which is what the carbon tax is, is highly regressive; it hurts poor Americans most because the poor spend a much higher fraction of their income on energy and because the poor are taxed at the same rate as the rich.

Hillary's internal study raised several points including:

  • While it's the energy companies that would be taxed they, since they can't print money, would pass the costs on to consumers.
  • The tax would hurt the low income families the most.
  • The tax would increase the cost of gasoline by $0.40 a gallon; at $3 a gallon that's a 13% increase
  • The average American household would have to pay around $480 a year more for energy
  • The price of all products would go up because increasing energy costs would make it more expensive to produce everything.
The really amazing thing is that when the climate alarmists push for this sort of thing they admit that the impact on global temperatures will be too small to measure.

Given that the same alarmists are perfectly ok with China, which produces more CO2 than the US and the EU combined, dramatically increasing it's CO2 production it's clear that they're not worried about a climate catastrophe; they're just using that as an excuse to get more of your money.



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