Congress needs to reject proposals to implement a carbon tax, like they did earlier plans to impose cap-and-trade, Heritage Foundation vice president Derrick Morgan argues.
Aside from imposing yet another tax on the already burdened American public, it will:
- Have little if any affect on global temperature;
- Harm American manufacturing competitiveness by driving business to other countries without the tax;
- Create a new revenue stream for government based on a complex tax whose costs are obscured;
- Hit low-income Americans especially hard, since they may not be able to switch away from fossil fuels for heating and transportation.
A carbon tax is in essence a perpetuation of a disastrous policy of picking winners and losers from Washington instead of allowing families to choose which energy sources work best for them. From ethanol subsidies to grants awarded to now-defunct solar manufacturers like Solyndra, these policies have increased costs to American families and wasted taxpayer dollars.
Do you think a carbon tax is the best way to “solve” global warming?