Australian Carbon Tax Essay

Pages: 6 (2089 words)  ·  Style: APA  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: College Senior  ·  Topic: Recreation

SAMPLE EXCERPT . . .

However, there are certain economic theories that come into play in setting up the basis for success that it seems many legislators have overlooked in the process of pushing the proposed bill forward.

The Economist notes, that in the "neat world of economic theory, carbon reduction makes sense until the marginal cost of cutting carbon emissions is equal to the marginal benefit of cutting carbon emissions" (Economist, 2007, p.1). However, in the context of real world implementation, politicians are at an impasse in terms of previous legislation successes to structure upon. The article notes, that if a carbon tax is set too low, too much carbon will be emitted, but since the environmental effect of greenhouse gases builds up over time, a temporary excess will make little difference to the overall path of global warming (Economist, 2007, p1). This fact is one that many business owners and employees note in making their case against the carbon tax.

As morose as it may seem, the concept of global warming in the long-run is one that many individuals deem to be inescapable. Thus, the imparting of unprecedented high taxes within the market is one that causes uproar for businesses that have never had to deal with such issues.

Conclusion

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As seen, the passage of a carbon tax within Australia will have a significant effect on the tourism and hospitality industry in both the short and the long-term. While individual households will be given nearly $1.5 billion in cash handouts before the carbon tax is passed, businesses are struggling to find their aid (Packham, 2011, p.1). The tourism and hospitality industry has seen nothing but uncertainty and dismal outlooks since the onset of tax legislation, and the question remains to be answered: will dismal outlooks turn into dismal realities for an industry that has long been a staple in the Australian economic market?

References

TOPIC: Essay on Australian Carbon Tax the Introduction Assignment

The Economist (2007 June 14). Tradable emissions permits are popular, but inferior, way to tackle global warming. Web. Retrieved from: http://www.economist.com/node/9337630, on 19 September 2011.

Farr, M. (2011 July 10). Julia Gillard unveils her plans for carbon tax. Money Matters.

Web. Retrieved from: http://www.news.com.au/money/money-matters/julia-gillard-unveils-her-plans-for-carbon-tax/story-e6frfmd9-1226091665916, on 19 September 2011.

Gupta, M. (2011 July 12). Carbon tax to further strain Australian tourism. Travel News.

Web. Retrieved from: http://www.easydestination.net/blog/?itemid=2120, on 19 September 2011.

Hoeller, P. And Wallin, M. (1991). Energy prices, taxes and carbon dioxide emissions.

OEDC Economic Studies, 17(1): pp. 92-104. Web. Retrieved from, http://www.oecd.org/dataoecd/33/26/34258255.pdf on 19 September 2011.

Oliver, S. (2011 July 14). Impact of the carbon tax on the Australian economy. AMP

Capital Investors. Web. Retrieved from: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDMyNTk0fENoaWxkSUQ9NDUwOTA0fFR5cGU9MQ==&t=1, on 19 September 2011.

Packham, B. (2011 July 10). Julia Gillard to hand out $1.5 billion in cash to sweeten carbon tax impact. The Australian. Web. Retrieved from: http://www.theaustralian.com.au/national-affairs/carbon-plan/julia-gillard-to-hand-out-15bn-in-cash-to-sweeten-carbon-tax-impact/story-fn99tjf2-1226091657891, on 19 September 2011.

Perth Now. (2011 July 25). Carbon tax puts tourism industry at risk. Web. Retrieved

from: http://www.perthnow.com.au/business/business-old/carbon-tax-puts-tourism-industry-at-risk-australian-tourism-export-council/story-e6frg2qu-1226101434353, on 19 September 2011.

Rodriguez, D. (2011 July 15). Australian carbon tax threatens closure of thousands of businesses. Climate Action. Web. Retrieved from: http://www.climateaction programme.org/news/australian_carbon_tax_threatens_closure_of_thousands_of_businesses/, on 19 September 2011.

Thompson, J. (2011 September 14). PM introduces carbon price legislation. ABC News.

Web. Retrieved from: http://www.abc.net.au/news/2011-09-13/pm-introduces-carbon-tax-legislation/2897250, on 19 September 2011.

Trade Newswire. (2011). Australia: carbon tax to hit tourism. Web. Retrieved from:

http://www.tradenewswire.net/2011/australia-carbon-tax-to-hit-tourism-mp/, on 19 September 2011.

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