Do you want class warfare? Just spell “Class” as “Carbon” and then you’re going to find yourself halfway there.
Let us consider the effects of this policy. A ton of carbon dioxide contains 248 kilograms of carbon, so a tax of $300 per ton of CO2would be equivalent to taxing carbon at a rate of $1.21 per kg. Since there are about 2.5 kg of carbon in a gallon of gasoline, this would increase the cost of a gallon of gas by $3.02 per gallon, or just a little more than Frank says. The average American driver uses about 730 gallons of gasoline per year, so this tax would represent a cost of about $2,200 per driver. This would be a serious hit for the average American worker, whose before-tax income is about $45,000 per year, and devastating to those making less than this.
…. and remember that it would come on top of Obama’s new mileage standards which will already add 15,000 dollars to the cost of a car. If these people get their way, then by 2025 a car will be a distant luxury that few ordinary Americans can afford. And that’s exactly their goal.