Fifty companies in Australia are responsibly for more than 50% of this country's carbon emissions, so "they" will be paying most of the new beaut carbon tax (you and I will be paying it, actually, but that's a quibble), so it turns out the cows and sheep aren't as guilty as we've previously been told (repeatedly).Finance Minister Penny Wong said: "This is not a tax that people pay; this is a tax that polluters pay." That sounds all very reassuring, until we remember that Treasury thinks that household expenditure will go up by $860 per year for a $30 a tonne carbon tax.
What many people don't know is that the carbon tax will have to be much more than $30 a tonne to be effective.
It's looking pretty good for the little Aussie battlers, who will be the beneficiaries of six billion dollars in "compensation" for this new tax. In fact, millions of people will allegedly be even better off - they will be over-compensated for the carbon tax (yes, that tax that is supposedly going to cost us nothing, because the polluters are paying ... which begs the question why consumers need to be over-compensated for something that will not cost them anything).
Out here in the real world, that's called wealth redistribution by stealth. It's also the most inefficient, ineffective and opaque way in which to redistribute taxes. It will cost a fortune in administration, and no one will understand where the money has come from, where it is going, nor whether a single particle of nasty emissions have been reduced from the atmosphere.
As far as I know, the atmosphere has never taken heed of taxes, but Gillard and her band of merry idiots must know better.
Carbon illusion we can't afford
Top 50 polluters to take carbon hit
Six billion for households
Millions better off with carbon tax