Tax Time?
A Wall Street Journal poll asked economists whether government should "encourage development of alternatives to fossil fuels?" 85 percent said yes. When asked what they considered to be "the most economically sound way for the government to encourage development of alternatives to fossil fuels," a majority (54 percent) said they favored a tax on fossil fuels.
The newspaper quotes David Wyss of Standard & Poor's, who says that, while economists generally favor free-market solutions, "there are times when you need to intervene" and this is one of those times. As he puts it, "We're already in the danger zone." The virtue of a tax, Wyss says, is that "it puts pressure on the market, rather than forcing an artificial solution on it."
8 Comments:
Of course a tax on fossil fuels will just hurt low and middle income persons more than the rich.. they can afford it... and if you tax the fossil fuel companies they will just pass it on to us.... this tax, while maybe filled w/ the right intentions, is poorly thought out as to the ultimate consequences...
anonymous: you mean it will hurt all those poor Americans who buy SUVs and giant trucks and think nothing of driving across town everytime they need a carton of ice cream? our energy is too cheap and we (yes, me too) use it poorly because of that. if it was expensive, we'd be smarter about it. I think that's what the economists are saying. if you want a painless solution, there isn't one. just curious: what is your solution?
No Maurice, I mean it will hurt the poor period, don't put words in my mouth -... even if they all drive little compact cars they can less afford $3 for a gallon of gas than the rich.. you can make gas $8- $10 a gallon and it won't bother the rich with their big cars.. if you really want to make a difference then reward companies that produce real, viable, alternative fuel solutions w/ tax breaks, mandate minimum vehicle mpg standards, or outlaw personal vehicles that get less than 15 MPG
yeah but it's not about 'bothering the rich', is it? the point is to reduce energy consumption and carbon emissions. high prices at the pump would not only discourage consumption, it would also stimulate alternatives. improved fuel mileage without higher gas prices might actually encourage more consumption.
FYI - You can access Wall Street Journal articles for free with a netpass from: http://news.congoo.com
Andrew Tobias blogged about this last week, I thought it was a great tip!
No, it's not about bothering the rich but in all honesty a Democratic congress is not going to pass a tax that will hurt the poor and not the rich..outlaw personal vehicles that get less than 15 mpg...
THE solution, often called Geonomics by some and Earthrights Democracy by others -www.earthrights.net/ - is to tax pollution along with natural (unimproved) resource extraction, and the monopolization of natural resources....AND provide an equal Earthshare or Citizens Dividend for all individuals. This could be distributed into personal retirement, health savings, housing and other accounts that promote general individual and community well being. Some of this Citizen's Dividend would certainly be used to buy resource conserving cars and other technologies.
Al Gore calls for the reduction of payroll taxes (i.e. Social Security that hits middle class and low income workers the most) and establishing carbon taxes to make up the difference. Al is on the right track. Now, if only, other Democrats -- and Republicans -- will see the Environmental Tax Shift light.
PJ
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