Green Taxes in Today's Economy

Green Taxes

In today’s gruesome economy, one of the main debates has been over the financial and resourceful development of energy that can power the United States of America (and possibly the world). Because of the depletion of the non-renewable resources, many energy companies have taken steps to develop renewable forms of energy, like solar, wind, electric, carbon based sources, etc. But many “traditionalists” have taken to staying with their crude source of energy. And because of this unwillingness to adhere to the social customs of renewable energy and conservation of the environment, the Federal government has taxed crude oil companies so that it will place an incentive to be more conscious. But it backfired; gasoline prices have risen up more in the last couple of months more than it ever has in the last 20 years. Not much has been made of a debate on how to effectively solve the economic and environmental problem that the United States faces, but with the suggestive taxation of green sources and pollution, not only can the consumers start to take awareness to the environment, the country can also benefit from the robust growth financially.

The benefits economically from the taxation of green sources will further bring radiance into the market. According to many economists, a plan that was introduced by Project 88, a 1988 bipartisan Congressional study group called for the use of market forces, including taxes, to protect the environment. Their mission was to tax the pollution that was caused by polluting companies. By doing so, external production costs would be incorporated into ordinary production decisions. This would correct a market defect and the market would become more efficient. Green taxes would not lower environ...

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...iticians that represent their constituency.

Works Cited:

Asenjo, Bill, Ph.D. "Green Taxes." Environmental Encyclopedia. Ed. Marci Bortman, et al. 3rd ed. Vol. 1. Farmington Hills, MI: Gale, 2003. 670-671. Global Reference on the Environment, Energy, and Natural Resources. Web. 28 Apr. 2014.

Mobin, Zahra, Mohammad Ali Ashrafi Pour, and Zahra Amir Abbasi. "Environmental performance and green tax: evidence from OECD countries." Advances in Environmental Biology (2012): 2926+. Global Reference on the Environment, Energy, and Natural Resources. Web. 28 Apr. 2014.

Clarke, David. "Comparative Risk." Environmental Encyclopedia. Ed. Marci Bortman, et al. 3rd ed. Vol. 1. Farmington Hills, MI: Gale, 2003. 294-296. Global Reference on the Environment, Energy, and Natural Resources. Web. 28 Apr. 2014.

Hawken, Paul. pg.153-154. Ecology of Commerce. New York. 2010. Print.