Issue Position: Carbon Reduction Act

Issue Position

I have a plan that will reduce carbon emissions, create jobs, and reduce long term structural costs

Seems all of the other candidates talk about global warming, carbon emissions, and so much more. But that's all they do, they just talk and get everyone stirred up, but never take any actions and I have yet to see a real plan from any candidate or incumbent, including the President and I'm also including other countries. Everyone just talks about it, has conferences and whatever else, but think about it: what has been done? Yeah, besides changing some emissions requirements on cars, nothing substantial has been done and nothing is planned.

I have a relatively simple plan that will reduce carbon emissions, not just for the short term, but for the long term; and this plan WILL CREATE JOBS as well as reducing long term structural costs. Below is a summary of the general plan, which is subject to changes/modifications, but it is a good base plan.

1. I want to convert 2 Million homes to SOLAR/WIND power over a 4 year period (500,000 homes per year)

2. I want to create the world's largest solar energy/wind energy farm(s)

3. I want to startup an energy research and development entity that performs research on renewable/sustainable energy.

4. I want to startup an emissions research and development entity that performs research on emissions and how to reduce or eliminate emissions.

Ok, now you are wondering how much does this cost?

1. Conversion of 2 million homes to solar/wind $50 Billion

2. Creation of the solar/wind energy farms including distribution infrastructure ($25 Billion)

3. Energy R&D ($4 Billion/year)

4. Emissions R&D ($2 Billion/year)

So for a 4 year program the total funding needed is $99 Billion, or we can just round that to $100 Billion or $25 Billion per year.

Now you are wondering, how is this going to be funded? (oh yeah and reduce long term structural costs)

1. Reduction in military spending of 5% - which will yield $33 Billion in annual savings

2. A four year carbon reduction tax (this terminates at the end of four years)
a. An annual carbon tax of $50/registered vehicle - this will yield $12.8 Billion per year

b. An annual carbon tax of $25/person regardless of your immigration status or age - this will yield $9 Billion per year

c. An annual corporate carbon tax (for all incorporated businesses) of $1,000-100,000/year - this will yield $2.8 Billion (the annual rate depends on asset size, revenue, number of locations, etc.)

d. An annual business carbon tax (for all small businesses) of $50/year - this will yield $1.1 Billion

I want to create a government entity that does research and development on alternative energy and ways to reduce emissions as well as deploying solar energy. I want to designate(or raise) roughly $20 billion per year in funding. This funding will come from a carbon tax of $50/person per year and $50/auto per year. Also a $20/person tourist carbon tax for all foreign tourists. Additional taxes would be placed on all ships docking in the US. The reasons for the tourist carbon tax and ship docking tax is to get some financial commitment from foreign countries.

$12 billion would go to R&D while the rest would go towards building and deploying those technologies.

The government would run a full R&D system that gave college students a pathway to employment, focusing research and development on alternative energy and carbon emission reductions.

The amount going into R&D would be adjusted every 4 years based on emerging technologies, etc.

The amount that is collected over the R&D requirements would build and deploy things like wind power, solar power, etc. all across the US. Home owners could apply through a process and if accepted, they would receive free solar, wind, etc. The system would be installed and given to the home owner at no cost.

So the total estimated carbon tax revenue is $25.7 Billion and there is a reduction in spending of $33 Billion.

What happens after year 4?

At the end of year 4 (although it may take more time), we will have completed conversion of 2 Million homes to solar/wind power and created several large scale solar/wind energy farms. These directly reduce carbon emissions and are a long term reduction.

The tax on individuals stops, the tax on vehicles stops, the tax on small businesses stops; the tax on large corporations continues.

Ok, so after year 4 revenue from taxes drops off to $2.8 Billion. But the programs for R&D need $6 Billion. Where will the rest come from?

Remember we converted 2 Million homes to solar/wind plus built energy farms?

Revenue from the home converted: $2.6 Billion/year; Revenue from energy farms: $1.8 Billion. So the total revenue is $7.2 Billion which leaves a $1.2 Billion surplus. Any surplus would be used to convert more homes to solar/wind or to build more energy farms. Additional revenues would come from licensing of technologies developed by R&D - these would not only be licensed in the US, but licensed to other countries.

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