The White House Is Blowing Smoke on a Carbon Tax

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The Washington Post reports:

President Trump’s administration is exploring the creation of two controversial new taxes — a value-added tax and a carbon tax — as part of a broad overhaul of the tax code, according to an administration official and one other person briefed on the process.

Sure they are. This sounds more like a strategic leak to demonstrate “seriousness” on Trump’s part than anything that’s really under consideration. Just give it a moment’s thought:

  • Republicans hate both VATs and carbon taxes. Hate hate hate.
  • A package that included top marginal rate cuts, corporate cuts, plus a VAT and/or a carbon tax to make it revenue neutral, would be almost comically regressive. Democrats would hate it even if the carbon tax were for real.

There’s zero chance that anything like this could make it through Congress. The “administration official” peddling this is just blowing smoke.

UPDATE: Well, this little run up the flagpole didn’t last long:

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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