Afternoon TEA: A Tax on Life 🌳
The idea of a carbon tax is once again rearing its ugly head in Washington. What exactly does that mean for American consumers? Well, a carbon tax requires putting a price tag on carbon emissions. And, that price tag, in turn, when applied to the whole economy raises the cost of doing business for every industry. This in turn, will raise costs for every American.
According to the Tax Policy Center, a carbon tax of $40 per ton would add about 36 cents to the price of a gallon of gasoline or about 2 cents to the price of a kilowatt-hour of electricity. With the price of gasoline continuing to rise, a carbon tax would bump prices up to almost $5/gallon! That’s a burden that will absolutely crush many Americans already, who already are struggling with skyrocketing energy costs.
It’s very simple. A carbon tax is exactly what it says it is — a TAX. And remember, once a tax is in place, that can be raised.
This simply is a Pandora’s Box, that once opened, would forever make life and business more expensive every day. It is a tax, that once created, would not go away. Ever.
Perhaps it would start in a narrow aspect of the economy. Perhaps it would start applying only to other people. But that is the problem. It is a “Start.” What comes next?
Any carbon tax will absolutely open the door to more expensive goods and services across the country and across the economy. A carbon tax is a slippery slope that will take us to a more expensive future.