The biggest offender was by far the United States, clocking in at $502 billion. China came in second at $279 billion, and Russia was third at $116 billion. In fact, the problem is so significant in the U.S. that the IMF figures correcting it will require new fees, levies, or taxes totaling over $500 billion a year, or more than 3 percent of the economy.
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Sunday, March 31, 2013
Bombshell IMF Study: United States Is World’s Number One Fossil Fuel Subsidizer
Between directly lowered prices, tax breaks, and the failure to properly price carbon, the world subsidized fossil fuel use by over $1.9 trillion in 2011 — or eight percent of global government revenues — according to a studyreleased this week by the International Monetary Fund.
The biggest offender was by far the United States, clocking in at $502 billion. China came in second at $279 billion, and Russia was third at $116 billion. In fact, the problem is so significant in the U.S. that the IMF figures correcting it will require new fees, levies, or taxes totaling over $500 billion a year, or more than 3 percent of the economy.
The biggest offender was by far the United States, clocking in at $502 billion. China came in second at $279 billion, and Russia was third at $116 billion. In fact, the problem is so significant in the U.S. that the IMF figures correcting it will require new fees, levies, or taxes totaling over $500 billion a year, or more than 3 percent of the economy.
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3 comments:
Subsidizing is another way of saying "not taxing".
So the author of this piece want taxes higher on energy?
What a bunch of crap!
"... failure to properly price carbon ..." is a bunch of hooey.
Leave that out of the equation and how do things stack up?
Get ready. Globalists are going to tax 3% out of our economy for themselves.
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