Hold onto your wallets. Some in Congress have proposed H.R. 763, the “Energy Innovation and Carbon Dividend Act of 2019.” It promises to collect millions by taxing CO2 production and promises to maintain a revenue neutral program by returning 100 percent as dividends to us citizens. If you believe that, then give my regards to the Tooth Fairy.
It also promises to create 2 million jobs. The problem is … they don’t say if they are government or private jobs. What do you think? Who’s going to create and maintain volumes of new tax regulations and IRS agents to oversee the program? Who’s going to manage proposed exemptions and rebates promised to military and agriculture? Who’s going to oversee proposed border adjustments affecting the myriad of foreign exports & imports? This will never ever be revenue neutral.
This is a carbon tax scam. Did you know these dividends (assuming we even get them back) can also be taxed, and possibly additional tax rates on Social Security?
While many countries have tried some form of a carbon tax, many are now seeing their citizens fighting back, because they were not told about all the hidden costs. Don’t ever forget what happens when businesses are taxed. The French “yellow vests” know this painfully well. Even though many countries say they will engage in carbon taxation, many are now turning a blind eye to enforcement, including Canada, Germany, Australia, China.
H.R. 763 is a swindle of epic proportions. They have hijacked the valid war on “pollution” and deceptively added CO2. It is a smoke & mirrors attempt at controlling private industry — because CO2 is NOT a pollutant. Why do you think we routinely pump 1,000 to 1,500 ppm of CO2 in our greenhouses, even though our air only has a CO2 concentration of about 415 ppm? Did you know OSHA allows CO2 levels of up to 10,000 ppm during an 8-hour workday? CO2 is absolutely essential for life on earth.
More importantly, CO2 has a miniscule affect on climate. Even though CO2 emissions continue to sky-rocket, global temperatures are falling. Our National Weather Service confirms global temperatures have dropped during the last 2 years. Additionally, there are numerous indicators around the world reflecting colder winters, growing ice sheets, while the upper atmosphere also cools. And … it is well known that we are overdue for the next Ice Age.
If enacted, there’s a high probability that H.R. 763 will quickly explode into a governmental Climate Bureau of gargantuan magnitude. This carbon tax program will not stop climate change, because the climate will always change. Do not be surprised when the carbon tax fails to meet expected income levels (which will always increase over time), it will relentlessly search for other paper tigers to tax – because it’s all about money and power. This Climate Bureau may even dictate child limits per household, and tax excess children, because after all, we all exhale CO2.
John Shewchuk is a resident of the Village of Calumet Grove.