This is what the "Drive By" media doesn't want you to know.
http://www.washingtonpost.com/wp-dyn/content/article/2007/09/26/AR2007092602127_pf.html
That is also why this story was not covered TV news programs.
Johns plan:
A tax on carbon dioxide emissions:
* $50 / ton of carbon dioxide (phased in over 5 years and then adjusted for inflation)
o Coal, including lignite and peat
o Petroleum and any petroleum product
o Natural gas
A tax on gasoline:
* .50/ gallon of gas, jet fuel, kerosene (petroleum based) etc...(added to current gas tax) (phased in over 5 years and then adjusted for inflation)
o Exemption for diesel - The fuel economy benefits of diesel surpass even its emissions benefits; it provides about a thirty percent increase in fuel economy and a twenty percent emissions reduction
o Biofuels that do not contain petroleum are exempt. Biofuels blended with petroleum are only taxed on the petroleum portion of the fuel.
**The .50 gas tax is in addition to what is derived from the per ton carbon dioxide tax in the previous bullet.
* Phases out the mortgage interest on primary mortgages on houses over 3000 square feet.
o Exemptions for historical homes (prior to 1900) and farm houses.
o Exemptions for home owners who purchase carbon offsets to make home carbon neutral or own homes that are certified carbon neutral.
*
o An owner would receive 85% of the mortgage interest deduction for homes 3000-3199 square feet
o 70% for homes 3200-3399 square feet
o 55% for homes 3400-3599 square feet
o 40% for homes 3600-3799 square feet
o 25 % for homes 3800-3999 square feet
o 10% for homes 4000-4199 square feet
o 0 for homes 4200 square feet and up
Certainly, these are some extraordinary measures to solve a problem that scientists aren't sure exists, and aren't convinced is caused by anything man is doing.
Yet, regardless of where one stands on this debate, shouldn't media be making the public aware of what legislators are proposing concerning this issue? The worst part about this old fart's plan is that the revenue brought in by these additional taxes,if the legislation is passed, are not earmarked to solve the "problem" of global warming whatsoever.
The revenue from the gas tax goes into the high way trust fund, with 40 % going to the mass transit and 60 % going to roads. The revenue from the tax on jet fuel goes into the airport and airway trust fund.
Finally, the revenue from the fee on carbon emissions will go into the following accounts:
* Medicare and Social Security
* Universal Healthcare (upon passage)
* State Children’s Health Insurance Program
* Conservation
* Renewable Energy Research and Development
* Low Income Home Energy Assistance Program
Isn't that great? Let's raise taxes supposedly to solve global warming so that we can give more money to Medicare, Social Security, Universal Healthcare, etc.
Folks, this has NOTHING to do with solving global warming. This whole issue is about raising taxes to fund programs that have virtually no connection to reducing carbon emissions.
This is a very interesting read, don't you think?
