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Just like the French proposal that starts with a big tax that gets more oppressive with time, the bill imposes a $15 per ton carbon (energy) tax, increasing by $10 per year into the future. Within five years the tax would automatically rise to $55 per ton.
The IRS and EPA will develop a cozy relationship — and what’s not to love about that — to siphon cash from the vat of taxpayer funds for what the bill calls “Administrative Expenses” and “Other Administrative Expenses.”
IRS is directed to work with the EPA in order to find more tax targets: “Any manufactured or agricultural product which the [Treasury] Secretary in consultation with the [EPA] Administrator determines” is a tax target. The newly-carbon-taxed items will be added to the long list already specified in the bill: Iron, steel, steel mill products including pipe and tube, aluminum, cement, glass, fiberglass, pulp, paper, chemicals, and industrial ceramics.
The EPA Chief will also have more power to force investigations and "information collection" -- papers please!
The bill gives czar-like powers to the EPA chief including the power to impose “monitoring, reporting, and record-keeping requirements” on Americans.
Here it is, straight from the bill text:
“A carbon dividend payment is one pro-rata share for each adult and half a pro-rata share for each child under 19 years old, with a limit of 2 children per household, of amounts available for the month in the Carbon Dividend Trust Fund.”
Here is the bill language:
“(D) FEE TREATMENT OF PAYMENTS. — Amounts paid under this subsection shall be includible in gross income.
A tax on a tax, which will likely increase the complexity of your annual tax filing. Here’s an idea — how about not taking the money from taxpayers in the first place?
the bill states:
“The revenues collected under this chapter may be used to supplement appropriations made available in fiscal years 2018 and thereafter –
“(1) to U.S. Customs and Border Protection, in such amounts as are necessary to administer the carbon border fee adjustment.”
originally posted by: Bluntone22
This should be called the brown movement.
It will make energy so expensive that you won't be able to afford to turn on the lights.
originally posted by: ketsuko
originally posted by: Bluntone22
This should be called the brown movement.
It will make energy so expensive that you won't be able to afford to turn on the lights.
It should be called the economy killer or the real Back to Africa Movement. If they do this, we'll shortly all be living subsistence like farmers in Africa because there won't be an economy and no one will be doing more than trying to eek out a bare living, and that will likely be illegal to do too because of the carbon footprint.
originally posted by: toysforadults
GET YER GUNS DAH COMMIES ARE COMING!