5 ms·

If we had as of precise data on both energy & resource consumption as we have on Bitcoin mining we could remove all taxes and create a consumption/VAT tax based

by AJ007 9y ago

If we had as of precise data on both energy & resource consumption as we have on Bitcoin mining we could remove all taxes and create a consumption/VAT tax based on how much resources and energy something used. That could go a long way in shifting costs that are socialized back in to their consumers and producers.

nonbel 9y ago
See my post below about energy credits. Perhaps proof of work does not achieve this like I think, but "precise data on both energy & resource consumption" should not be necessary if the value of the currency is directly linked to the abundance of energy.
Retric 9y ago
Energy taxes are even more regressive than sales taxes. All it would do is increase the vast wealth subsidy.
- jeremyjh 9y ago
  Data? According to the EPA nearly 2/3rds of electricity is consumed by businesses and industry. https://www.epa.gov/energy/electricity-customers#commercial https://www.epa.gov/energy/electricity-customers#commercial
  - Retric 9y ago
    http://faculty.georgetown.edu/aml6/pdfs&zips/RegressiveMandates.pdf http://faculty.georgetown.edu/aml6/pdfs&zips/RegressiveManda... Just an example: The poorest 5 percent of households use 247 gallons of gas per year, on average. The richest 22 percent, with incomes over ten times higher, each use about four times as much. The basic issue is as wealth increases people spend more on services which have lower energy needs than say food. A cheeseburger takes not just energy to cook much energy to manufacture. An account on the other hand uses much less energy per dollar spent.
- DanBC 9y ago
  You can hypothecate the tax to provide energy efficient modifications to houses (insulation, LED lighting, double glazing), and to provide a small amount of free energy to poor people (subsistance levels of heating and cooking).
- tomjen3 9y ago
  That depends on how you look at it. If you look at it as a change from the current system it would likely be mostly a benefit to the rich. If you see it as an alternative to paying nothing (we wipe the slate clean and then consider each system by comparing it to that) the rich will still pay by far the most. If you are concerned with a minimum form of income, you can always give a certain amount of credits to each person at no cost to them.

by AJ007 9y ago

nonbel 9y ago

See my post below about energy credits. Perhaps proof of work does not achieve this like I think, but "precise data on both energy & resource consumption" should not be necessary if the value of the currency is directly linked to the abundance of energy.

Retric 9y ago

Energy taxes are even more regressive than sales taxes. All it would do is increase the vast wealth subsidy.

jeremyjh 9y ago
Data? According to the EPA nearly 2/3rds of electricity is consumed by businesses and industry. https://www.epa.gov/energy/electricity-customers#commercial https://www.epa.gov/energy/electricity-customers#commercial
- Retric 9y ago
  http://faculty.georgetown.edu/aml6/pdfs&zips/RegressiveMandates.pdf http://faculty.georgetown.edu/aml6/pdfs&zips/RegressiveManda... Just an example: The poorest 5 percent of households use 247 gallons of gas per year, on average. The richest 22 percent, with incomes over ten times higher, each use about four times as much. The basic issue is as wealth increases people spend more on services which have lower energy needs than say food. A cheeseburger takes not just energy to cook much energy to manufacture. An account on the other hand uses much less energy per dollar spent.
DanBC 9y ago
You can hypothecate the tax to provide energy efficient modifications to houses (insulation, LED lighting, double glazing), and to provide a small amount of free energy to poor people (subsistance levels of heating and cooking).
tomjen3 9y ago
That depends on how you look at it. If you look at it as a change from the current system it would likely be mostly a benefit to the rich. If you see it as an alternative to paying nothing (we wipe the slate clean and then consider each system by comparing it to that) the rich will still pay by far the most. If you are concerned with a minimum form of income, you can always give a certain amount of credits to each person at no cost to them.