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Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says

Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says

By Mathew Carr
Nov 7, 2012 8:05 AM PT

Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.

A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.

Read more: http://www.bloomberg.com/news/2012-11-07/obama-may-levy-carb...

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And what do you know,

this is a scheme many "republicans" have sided with before in the past, so perhaps this is something the "gop house" will work with BO on during his second term.lol

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

Just be thankful they don't take it all.

Beatles Taxman:

Free includes debt-free!