There is no revenue neutral tax
To the editor:
What has happened in history when increases in taxes to justify expenses have failed? Taxes have been raised even more, and more money has been thrown at social and economic problems. An example? The Great Society fiasco. Countless trillions of dollars have been spent. Poverty has not and will not be eradicated by doing the same thing over and over again and expecting a different result.
Carbon dioxide is not a pollutant. America has cleaned the air and water of real pollutants in recent decades. Countries like China and India have not. They will not reduce the amount of carbon dioxide in the atmosphere either.
Some well-intentioned lobbyist groups will not change that.
Increasing taxes on industries of any kind as a penalty for doing business has one outcome. Prices of products and services are increased. Price increases make things less affordable. The overall economy suffers. There is less economic growth, and fewer jobs are created. Where is our economy right now? What good has come from having the world’s highest corporate tax?
Be very careful what you wish for.