Democrat Carbon Tax Could Devastate the Economy

Democrat Carbon Tax Could Devastate the Economy

(TargetLiberty.org) – President Joe Biden presented a comprehensive infrastructure plan on Wednesday, March 31, planning an enormous spending package that could cost the US more than $2 trillion, and he’s going to launch a huge tax raid on all Americans to help pay for most of it. Specifically, he proposed returning to a 28% corporate tax rate, up from the 21% corporations were paying under the Trump administration. No matter where the taxes come from, they’ll potentially cause huge damage to the economy. The latest rumors are that Biden could still be planning a “carbon tax,” which would be the most destructive option.

Biden is under pressure from the Left of his party to spend even larger amounts of money on their extreme green agenda, and one possible compromise is to fund his spending plans with a tax on CO2 emissions. The problem is, such a tax would inevitably push up fuel prices – and that impacts every American who drives to work or elsewhere, AND it impacts everything Americans buy. Higher prices for fuel mean higher prices for everything else because all the goods and services we use daily need fuel to produce and transport.

Entrepreneur Elon Musk says he’s discussed a carbon tax with the president, but Biden said it was “too politically difficult.” However, it’s still being pushed by many on the left, including the Carbon Tax Center pressure group, a strong supporter of the so-called “Green New Deal” being pushed by far-left Dems. Will Biden buckle to the Left and devastate our economy by taxing emissions? The signs aren’t good.

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