Swap Federal Income Tax for a Carbon Tax

A unique and interesting idea

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primary topic: Tax Reform
secondary topics: Energy Policy

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From the Unity Party website: Eliminate the Federal Income Tax. Unity supports replacing federal income taxes with a revenue measure based on the carbon content of fossil fuels as a simple way of balancing the budget, combating global warming, and encouraging the development of alternative energy sources.

A reduction in fossil fuel consumption would enhance American power abroad by making this nation less dependent on foreign sources of oil.

[Editors note: What a great incentive for business to invest in the capital improvements needed to reduce their carbon footprint. It would be an immediate boost in green jobs. It is mostly a progressive tax, as those who use the most energy would pay the most tax. However, it does beg the question, as the carbon footprint is dramatically reduced how does the country raise enough revenue to fund itself? One can only surmise that this would be a transitional taxation scheme that needs to be gradually phased out as the US capitalizes its green infrastructure.]

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