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

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

    Let the games begin!

    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.

    Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says - Bloomberg
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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

    Quote Originally Posted by apdst View Post
    Let the games begin!
    Omg, why obama! well, hopefully the house blocks him, like they'll block everything else.

    frabz-ERMAGHERD-MER-TAHXERS-aaa15e.jpg
    Last edited by roflpublican; 11-07-12 at 07:28 PM.

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

    Yeah. Reid's talking about raising taxes too.

    My guess is that we'll see a combined top rate of somewhere around 50% in the not too distant future and corporate rates that end up being in that range as well.

    I suspect that we'll see the individual rate go to the 39.6% but we will also see a lot more "surtaxes" like the one on investment income that starts next year. For corporations I'd hazard a guess that the rates will be reduced to something like 27% but that, like with the individual rate, we will see a whole slew of regulatory fees and excise taxes. I also wouldn't be surprised to see the employer portion of SS to get bumped by the 2% that the employee side was reduced.

    It'll make everybody happy. Obama can say he catered to the Republicans by reducing the corporate rate and then blame them when it doesn't raise a damned thing and more businesses close.

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

    Quote Originally Posted by Lutherf View Post
    Yeah. Reid's talking about raising taxes too.

    My guess is that we'll see a combined top rate of somewhere around 50% in the not too distant future and corporate rates that end up being in that range as well.

    I suspect that we'll see the individual rate go to the 39.6% but we will also see a lot more "surtaxes" like the one on investment income that starts next year. For corporations I'd hazard a guess that the rates will be reduced to something like 27% but that, like with the individual rate, we will see a whole slew of regulatory fees and excise taxes. I also wouldn't be surprised to see the employer portion of SS to get bumped by the 2% that the employee side was reduced.

    It'll make everybody happy. Obama can say he catered to the Republicans by reducing the corporate rate and then blame them when it doesn't raise a damned thing and more businesses close.
    Obama hates private business; I can't see him lowering corporate tax rates, unless he screws the hell out of the business sector with the abolition of write offs and deductions.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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

    Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says
    That'll help the economy...
    "We the people are the rightful masters of both Congress & the courts, not to overthrow the Constitution, but overthrow the men who pervert the Constitution."
    - Abraham Lincoln

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

    Quote Originally Posted by Diogenes View Post
    That'll help the economy...
    Why sure it will; higher taxes creats jobs.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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

    I thought y'all were all about fiscal responsibility and closing the deficit and stuff? Barack just can't win with you guys eh?
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
    - Colonel Paul Yingling

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

    Ohhhhhhh noesss the sky will fall in.

    Actually, Carbon taxes are the best way to effectively reduce emissions acording to mainstream economics.

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

    Are we talking about a carbon tax or corporate carbon emissions tax? If the former I am not sure I agree would have to see the detailas if the latter go for it.
    "Those who do not learn from history and condemned to relive it".

    "There are those who will debate the necessity of wilderness, I will not, either you know it in your bones or you are very very old". Aldo Leopold - Sand County Almanac

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

    Quote Originally Posted by StillBallin75 View Post
    I thought y'all were all about fiscal responsibility and closing the deficit and stuff? Barack just can't win with you guys eh?
    Creating new taxes, that will hurt the job market isn't "fiscal responsibility".
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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