Try Net Zero - The American Spectator | USA News and Politics
Try Net Zero
by

I’m intrigued by Charles Krauthammer’s proposal for a “net-zero gas tax” in the latest Weekly Standard. Basically, he proposes an increase in the gas tax now, while energy prices are low, to decrease U.S. consumption. But to avoid hitting cash-strapped drivers in the midst of a recession, he’d directly offset the gas-tax hike with a reduction in payroll taxes. Krauthammer argues it would promote energy independence without overtaxing or fattening the government’s revenue take.

It sounds more politically feasible than, say, imposing carbon taxes on energy consumers to pay for low taxes on investment. But I have a few questions. While U.S. consumption obviously has a major impact on world oil prices, we don’t in fact get most of our oil from our “geopolitical adversaries” — many of our allies do. To what extent will this really promote our energy independence and our geopolitical goals? Second, when President Bush proposed carving personal accounts out of Social Security he was accused of diverting much-needed revenue from the retirement program. The revenues at stake here are much smaller and the Social Security trust fund is an accounting fiction in any event, but at least Bush was offsetting the diverted revenue with personal accounts and progressive benefit reductions. Won’t there be an objection along these lines to Krauthammer’s plan?

Sign Up to receive Our Latest Updates! Register

Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://spectatorworld.com/.

Be a Free Market Loving Patriot. Subscribe Today!

Stop the Inflation Grinch From Stealing Christmas!

That’s right, the Grinch (Joe Biden) is coming for your pocketbooks this Christmas season with record inflation. Just to recap, here is a list of items that have gone up during his reign. 

Gas: 40%+
Beef: 20%+
Used Cars: 20%+
Lodging: 17%
Eggs: 13%

What hasn’t increased? The cost to subscribe to The American Spectator! For a limited time, we are offering our popular yearly subscription for only $49.99. Lock in the lowest price of the year by subscribing today

The Grinch Stole Christmas Sale
Commander-in-chief of Christmas inflation