Want to Balance the Budget? Price Carbon, Tax Oil.

via internet business politics

Despite all the talk in Congress about the need to balance the budget, there's a serious dearth of new ideas about how it might actually be done. The Center for American Progress's budget proposal suggests pricing carbon and placing a tax on imported foreign oil could go a long ways in doing exactly that:

Our plan addresses the risks and economic damage from our heavy reliance on foreign oil and the dangers of climate change by establishing a price on emissions of carbon dioxide and other greenhouse gases, and introducing an oil-import fee of $5 per barrel. Under our plan, greenhouse gas emissions will be reduced by 42 percent of 2005 levels by 2030, and 83 percent of 2005 levels by 2050. For low- and middle-income taxpayers, any resulting rises in energy prices are offset by the benefits of reduced income taxes.

Read the entire proposal at CAP.

Want to Balance the Budget? Price Carbon, Tax Oil.
Despite all the talk in Congress about the need to balance the budget, there's a serious dearth of new ideas about how it might actually be done. The Center for American Progress's budget proposal suggests pricing carbon and placing a tax on imported

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