Tuesday, December 11, 2012

Yet another example of politicians who just can't talk in plain English.

Californians Could Face ‘Double Taxation’ With State, Federal Carbon Taxes
RUSH: "Last month, environmentalists cheered as California launched a cap-and-trade program, but talks of a federal carbon tax raised concerns about double taxation.  The San Francisco Chronicle reports that while the chances of a federal tax on carbon emissions being adopted are still remote, California state officials are worried enough to have started discussing the prospect.

 'We are aware that it is a possibility, and we have been considering it as of late,' said California Air Resources Board spokesman Stanley Young. 'We want to make sure that California companies continue to transition into the program without any sort of disadvantage.  We promote the possibility of the federal government addressing climate change,' he said. 'And on our part, we’re prepared to align our program in a way that allows California to move forward.'

"One potential solution would be for Congress to exempt California companies that already participate in the state cap-and-trade program from a carbon tax. California officials have also indicated they could tweak their system to harmonize it with the possible federal tax."  So California's passed a carbon tax. The feds are thinking about it.  If the feds do, this leads to double taxation in California.  State and federal carbon taxes.
Now, California just voted to raise taxes on itself with Proposition 30. 

Some Californians, more than you would expect, are gonna be paying a total of 53% in just income taxes, state and federal.  Then the carbon taxes on top of that.  And then there is the Obamacare tax on top of that.  It's just the beginning.  None of these taxes have hit yet.  They're all gonna hit next year, some of them starting on January 1st.  Some starting with the first paycheck of the new year.  And at that point, we'll have a better indication on what people thought they were voting for.

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