Would a Carbon Tax Make Sense for America?

Would a Carbon Tax Make Sense for America?

Would a Carbon Tax Make Sense for America?

By Kent Livingston

Unless you don’t own a TV or a computer then at some point you’ve heard the so-called environmental experts and political pundits speak of the dangerous effects of greenhouse gas emissions on global warming. There are two sides to every story, but most people would agree that more greenhouse gas emissions aren’t good. Time and time again, we hear of different studies that indicate global warming is getting worse, as are its effects. In fact, the White just released another report this month about the effects of global warming on climate change. According to that report, things are bad and getting worse.

Raise the Price to Decrease its Use

So what can be done about global warming and its effects? That depends on whom you ask, but one idea that has been discussed in many circles is to make people pay more for leaving a bigger footprint on the environment. Or, in other words, by raising the cost of carbon-emitting fuel you might be able to get people to use less of it. If that sounds like a tax to you, you’re right. It is. So could a carbon tax work?

Down With Carbon, up With the Alternatives

According to those who favor the idea, if the government enacted a carbon tax it would be able to rid itself of much of the current mess of regulations aimed at protecting the environment and conserving energy. By taxing carbon fuels it could also negate many of the current targeted subsidies, as well. A carbon tax could serve to decrease the demand for coal and oil and instead push the demand for alternative fuels higher, such as nuclear, wind or solar power.

The Downside

However, as with any possible new tax, no matter how good it sounds, there are always two sides to every story and it’s also possible that a carbon tax would have negative consequences, such as the following:

  • Most people don’t like new taxes, which means it could be difficult to implement.
  • Determining the exact amount of the tax could be challenging, while the external cost might also be hard to calculate.
  • Administrating the tax could be expensive and thereby negate the savings.
  • The U.S. could lose production to other countries that don’t require a tax.
  • It could lead to companies attempting to evade the tax by hiding carbon emissions.

Time for a Carbon Tax

Although it appears that a carbon tax could be the answer to many of the issues that come with greenhouse gas emissions and their harmful effects on the environment, it may take a lot more work to ever see a carbon tax become a reality. Plus, even though it sounds like a great solution, there are possible negative consequences as well. For some, just the idea of another tax is a negative.

GROCO Will Be Here

In any case, at GROCO we are here to help you with all of your tax planning and accounting needs. Whether or not a carbon tax becomes a reality in the future, we’ll be here today and in the months and years to come to help you with each of your complex tax situations. Just click here to contact us and let us help you minimize your tax burden in every way possible.

We hope you found this article about “Would a Carbon Tax Make Sense for America?” helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at www.GROCO.com.  Unfortunately, we no longer give advice to other tax professionals gratis.

To receive our free newsletter, contact us here.

Subscribe our YouTube Channel for more updates.

Alan Olsen, CPA

Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com.  GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.

 

Alan L. Olsen, CPA, Wikipedia Bio

 

 

GROCO.com is a proud sponsor of The American Dreams Show.

 

American-Dreams-Show-Accounting-firm-in-ca-cpa-tax-advisors-groco-alan-olsen

The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business. Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most. They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:

Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…

Untitled_Artwork copy 4

MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness.  It’s mission statement:

In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges. Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.

Posted in ,
Jason Ma on Shaping Next-Gen Leaders

Jason Ma on Shaping Next-Gen Leaders

Jason Ma Discusses Shaping Next-Gen Leaders on Alan Olsen‘s The American Dreams Show Transcript of American Dreams interview titled; “Mentoring The Next Generation“ Transcript: Alan Olsen Welcome to American Dreams. My guest today is Jason Ma. Jason, welcome to today’s program.   Jason Ma Thank you so much for inviting. It’s an honor and pleasure…

Austin Fowler on The Power of Quantum Computing and Ethical Investing

Austin Fowler on The Power of Quantum Computing and Ethical Investing

Austin Fowler Discusses The Power of Quantum Computing and Social Investing on Alan Olsen‘s American Dreams Show., episode  Transcript of American Dreams interview titled; “Empowering Financial Growth and Social Impact with Austin Fowler“. Alan Olsen Hi, this is Alan Olsen and welcome to American communities. My guest today is Austin Fowler. Austin. Welcome to today’s…

Successful Entrepreneurs Share 9 Essential Qualities

Successful Entrepreneurs Share Unique Qualities In the dynamic landscape of business, entrepreneurship stands as a beacon of innovation and change. Behind every successful venture lies an individual with a unique blend of qualities that propel them toward success. Whether it’s a tech startup disrupting an industry or a small local business thriving in a competitive…

Tom Wheelwright Talks Tax Free Wealth

Tom Wheelwright Talks Tax Free Wealth

Tom Wheelwright sits down with Alan Olsen, Host of the American Dreams show to discuss tax free wealth. Transcript: Alan Olsen Welcome to America Dreams. My guest today is Tom wheelwright CPA, Tom, welcome to today’s show. Tom Wheelwright Thanks, Alan. It’s really always good to be with you. Alan Olsen I am really excited…