Microsoft founder Bill Gates endorsed a Washington state proposal to implement a fee on carbon emissions Tuesday as environmentalists try to build popular support in the state to take action to cut emissions from fossil fuels.
Gates backed the proposal, Initiative 1631, primarily to combat climate change, he said in a blog post.
“Here in Washington state, climate change is on the ballot,” Gates wrote. “If Initiative 1631 passes in November, it will create a fee on emissions that cause climate change, with the goal of boosting the effort to stop the planet from getting disastrously warm.”
While the proposal is technically labeled as a “fee” on carbon, the toll operates similar to a tax and is only classified differently because of unique Washington state rules on what constitutes a tax, according to the nonprofit Tax Foundation.
If passed, the bill would levy a fee of $15 per metric ton of carbon emissions on large fossil fuel emitters, namely utilities and refiners.
The tax will then increase by $2 annually until the state as a whole is on track to meet emissions goals set for 2035 and 2050, the Tax Foundation says.
The baseline $15 per metric ton of carbon emissions-tax translates into an extra 13 cents per gallon of gas, according to Resources for the Future.
“Revenues [from the fee] would be dedicated to environmental efforts, with 70 percent dedicated to a clean air and clean energy account, 25 percent dedicated to a clean water and health forest account, and 5 percent dedicated to a healthy communities account,” Tax Foundation policy analyst Jared Walczak wrote in September.
Read more at Daily Caller
A co2 or carbon tax is NOT
a tax on co2 or carbon !
It is a tax on everything.
It would be a hyper-generalized SALES TAX
where NOTHING would be exempt.
And it would be purely inflationary.
We all know the world economy needs a
good dose of that !
Anyway Gates can make a little profit he will do it after all his Microsoft back a few years ago were putting on those silly WE SEE ads on TV
Well, that proves that Gates is not as smart as many think he is.
CO2 does NOT cause global warming, hence, climate change.
Anyone who thinks that CO2 is a magic gas that controls climate is woefully ignorant or a political fraud. IMHO.
He was a programmer who made billions thru that (and IBM’s adoption of PC-DOS). He has so much money that any tax that hits the lower and middle class hard mean nothing to him. Nor would it change his lifestyle. But he’s more than willing to believe the lying claptrap coming from the so-called climate scientists like Michael Mann and the nonsense that come out of the IPCC. What a fool.