A Congestion Tax Will Not Save The Planet | Finance information

It?s an election year

in the United States. The politicians of both major political parties continue to outline their initiatives for their first presidential term in office. Democratic candidate Barack Obama outlines a long list of new spending promises under the slogan ?Yes we can.? Meanwhile, Republican John McCain wants to continue spending on the Iraq war well into the future. In the Congress, there is no desire to cut federal spending and the dubious practice of spending ?earmarks? continues without any real reform.

Meanwhile, the United States federal debt is currently approaching 9.5 trillion dollars and it is about to get worse since the national unemployment rate is now rising. The federal debt burden already amounts to about $ 79,000 for each United States taxpayer. Therefore, the current federal debt, economic recession, Iraq war, and new election year campaign promises are a formula that amount to one thing for the average American taxpayer: not higher income taxes

However, it is as. though taxes are not high enough already. In 2008, Americans will work every day from New Year?s Day through April 23, just to pay their taxes. It will take 74 working days to pay federal taxes and 39 additional working days to pay state and local taxes. Americans will spend more on taxes in 2008 than they will spend on their food, clothing, and housing expenses combined.

As both political parties in Washington DC contemplate raising income taxes in the next few years, there is a new and unique tax that is already under consideration in several large American cities. It is a tax already generating revenue in international cities like London, Milan, Stockholm, and Singapore. It is called the ?congestion tax? and its implementation is feared by automotive commuters in major United States cities. The tax is based upon a vehicle entering a city or a designated area of ??the city. The tax is levied upon on automobile?s entry into the designated zone. London could be a model for the administration of the congestion tax in major United States cities. The congestion tax in London started with a commuter tax of eight dollars a car. That tax has recently doubled daily for small gas-powered cars and large vehicles now pay a $ 50 Congestion Tax each day. London does not have toll booths or barriers around the congestion charging zone and no physical tickets or passes are required. Monitoring is done through a network of camera sites at every entrance and exit in the tax zone and within the zone. Each camera site Consists of at least one color camera plus a monochrome camera for each lane of traffic being monitored. The camera?s capture automobile license plate numbers and people are required to pay the tax based on the pictures. The stated purpose of the congestion tax is to clean up the environment by reducing C02 emissions from automobiles stalled in traffic in heavily traveled, congested areas in large cities. The tax acts as incentive for users to utilize automobile for public transportation. The benefits of an increase in the use of public transportation would be to improve air quality, reduce traffic congestion, and improve public health by reducing air pollution. New York City is one of at least five United States cities considering the implementation of a congestion tax for tax. The initial automobile drivers entering the congestion zone would be in New York over eight dollars each day. In addition, there is an additional incentive for New York City because of the promise of $ 354 million in grants from the Federal Government for creating a congestion zone. Consider the implications of these federal grants for a moment if you will. A taxpayer pays initiate federal income taxes and the government uses that tax money as incentive for local city governments to to to additional tax burden on automobile drivers in order to solve local traffic bottlenecks. It certainly becomes problematic for a taxpayer when federal income taxes are used as a financial incentive for cities to create new local fee-based taxes. In fact, a congestion tax may have dubious ramifications to local business and city employment . What the congestion tax will do is drive away from the local business into inner cities and the suburbs where commuting workers Thurs business customers have not to pay a traffic tax. In addition, fares in large cities will have to increase in order for a passenger cab cab to enter a congestion zone. Indeed, it is not scientifically proven that long term complete, global warming is man-made and the result of CO2 in the atmosphere Increased. Consider that the planet?s recent warming is likely a result of the long term solar cycle of the Sun. In reality, the congestion tax is really a tax wolf in sheep?s clothing environmental. The truth is that it?s just another unnecessary tax burden on the consumer and retail worker did not want to save the planet from global warming. id=?article-resource?> load has worked in senior management positions for some of the largest financial services firms in the United States for the twenty five years. He has also provided business consulting support for insurance organizations and start up businesses. He has always been interested in writing and listening to different viewpoints on interesting topics. Visit his website at http://www.eworldvu.com

Source: http://www.lovefinanceinfo.com/2012/08/a-congestion-tax-will-not-save-the-planet/?utm_source=rss&utm_medium=rss&utm_campaign=a-congestion-tax-will-not-save-the-planet

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