labor's carbon tax compensation black hole

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    And all this pain and risk to our country with the aim of a 5% reduction? Australia emits around 1.3% of global co2 emissions - so a 5% reduction in Australia is a 0.06% reduction globally. And this government think they can CONvince us this is to do with the environment?

    Until the big polluting countries such as China and the US and even the rest of the world do something together, we are spitting in the wind and putting our economy at huge risk, imo. And imo, risk to reward is so bad, it's unbelievable that Gillard can even contemplate doing this to this country.

    Following couple of excerpts below are from the Australian by Henry Ergas
    (bolds are mine):

    "THE government's claim that it will provide permanent compensation to 70 per cent of households for its carbon tax is based on a false premise: that the Australian government will receive the revenues from the tax and of permit sales in the subsequent emissions trading scheme"
    "The sums involved are hardly trivial. Even in the 5 per cent reduction scenario, by 2050, annual imports of permits amount to $23 billion at today's prices; that is, each man, woman and child in this country will be transferring $600 a year to foreign owners of permits. Whatever one may think of those transfers, they mean the government's compensation promise is vastly underfunded.

    Full article: Black hole in government's carbon tax compensation plan

    I've said before and here it is again - Aussies are being treated as fools, imo.
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