Even a blind pig finds an acorn once in a while...
NEW YORK (Reuters) - Former U.S. Vice President Al Gore on Monday suggested taxing carbon dioxide emissions instead of employees' pay in a bid to stem global warming.
"Penalizing pollution instead of penalizing employment will work to reduce that pollution," Gore said in a speech at New York University School of Law.
The pollution tax would replace all payroll taxes, including those for Social Security and unemployment compensation, Gore said. He said the overall level of taxation, would remain the same.
"Instead of discouraging businesses from hiring more employees it would discourage business from producing more pollution," Gore said.
OK, forget for a minute that man-made global warming is a myth and that taxing polluters will not stop the globe from cycling naturally in the warming direction. Is Al Gore, liberal Democrat, seriously suggesting the elimination of all federal payroll taxes? And then further suggesting that pollution taxes on business would replace all that loss of revenue?
The progressive income tax is the lifeblood of Democrats. It let's them punish achievment and reward loafing in return for votes. So when a liberal suggests eliminating all federal payroll taxes, then I cannot help but give a listen.
"But Ed", you accurately point out, "corporations don't pay taxes, only consumers pay taxes at the retail level. Corporations always pass on any taxes in the form of higher retail prices. They are called embedded taxes. So either you have more money to spend or you have higher retail prices. Isn't that a wash financially?"
Right you are. But I would still rather have no federal income tax burden and have a retail purchasing choice, than have low relative prices and the federal government continue to seize 30% of my income before it ever gets to me. Gore's idea sounds nice, but it will never fly because 1. companies can always relocate to avoid the pollution tax, 2. if companies successfully reduce emissions to the point that the government is no longer taking in enough revenue, what pays for the federal budget? and 3. seriously, when has a Democrat ever reduced, much less eliminated, any tax? Then, just when Gore seemed to be on a role, he just couldn't help himself from falling back in his tired, idiotic Kyoto disaster of an idea...
Gore, a longtime environmentalist, also proposed that the United States re-join any successor to the U.N. Kyoto Protocol for curbing global warming beyond 2012.
Poor old Al, he tries so hard to remain relevant but he just can't manage to be taken seriously by anybody any more.