Sky Trust
A new, on-line only Newsweek article talks about a different way to cut greenhouse emissions. Rather than imposing a gas tax or other form of carbon tax where the revenue reverts to the government - and they use it for who knows what - this method calls for setting up a "sky trust". Money raised in carbon "revenue" would be distributed as dividends to - all of us, as "owners" of the sky.
The benefit for lower income Americans? They'd see more money in their pockets to ease the burden higher carbon costs would bring. For middle-income Americans, the dividend would create roughly a wash.
Redistribution of wealth, anyone?







Comments (2)
Laura--the one financial demographic you left out but implied would be the higher ? income people who would payout more than they receive. The "carbon revenue" would come from companies that would buy the carbon permits to dump into the sky. The cost to the companies would be passed on to the consumer from the get go so that it is a $0 net sum game. However, if you trace back to the sky trust web site, it explains that there will be a quasi-government agency governing body that would "manage" the sky trust and sell the carbon credits. OOPS! And, the "dividends", if any, (which is what is left after all cost)would not start flowing to the masses but used to subsidize these polluting industries fixes on carbon emissions. Then, when CO2 goal levels are achieved, the masses would start getting their dividends. Trust me, I'm from the "Trust". So over the supposed short term, the lower income people would pay out even larger percent of their income for energy. Reverse Robin Hood.
Since the concept is intended to be global, there would have to be a global treaty to enforce the Trust. Anyone want to bet the trustee could only be a UN agency? Instead of one world government, it will be a one world trust. This carbon trust could easily morph into other "common" elements such as the internet, forest, patents, water, land, space, quite(lack of noise), etc..
You hit the nail on the head, wealth redistribution--robin hood on a global scale.
Instead of Sky Trust, its more like pie in the sky.
Posted by herschel | June 15, 2007 6:47 PM
Of course it's a wealth transfer...that's all this Kyoto CO2 scam is! For those of you who laugh when they hear someone say it's a conspiracy from the Left, think of this...if they were actually going to redistribute wealth, is it possible at all to improve on the Kyoto Accord? This is the perfect scam IMO.
Posted by Chris | June 15, 2007 9:37 PM