VitalAccurateThinking

George Soros talks about energy, politics, goals

George Soros came to Houston to talk about energy and politics. He is pushing the carbon tax idea:

[Soros] sees possibilities for an idea he is pushing — a carbon tax — to become a reality.

Power plants that rely on carbon-based energy that contributes to global warming would have to pay a tax on that energy. They, in turn, would pass those higher operating costs on to consumers in the form of higher utility bills.

If phased in over 15 years, companies would have time to develop alternative fuels to avoid paying the tax.

To break down resistance to the tax, Soros suggested replacing payroll taxes as the funding source for Social Security with the carbon tax revenue.

If you have read my blog for awhile, you will know that I am skeptic of a carbon tax. Taxes are already very high on gasoline. Odds are it will be another source of government income for which there will not be a corresponding reduction in other taxes. There will be massive cheating and might result in energy trading schemes that are not working so well in Europe. On top of that, this would, yet again, mean the rich could pollute while the poor suffer.

Rather than penalize, I would rather incentivize. The tax credits for hybrid cars and solar panels is a great idea. Extend that into tax breaks for alternate energy investments. Fund alternate energy research. Hey. Here's an idea: start Manhattan project for alternate energy research. Stop talking about energy independence, make something happen.

posted by Jim VAT @ 8:08 PM