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IMF Admits Higher Taxes Only Way to Fund Liberal “Green” Agenda

Posted on Monday, October 23, 2023
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by Ben Solis
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64 Comments

AMAC Exclusive – By Ben Solis

Pedestrian with an umbrella near International Monetary Fund, IMF Headquarters 2 Building HQ2 in DC.

With the global economy experiencing a serious slowdown, some liberal politicians throughout the West are still plowing forward with their far-left “green” agenda that is imposing a significant financial burden on ordinary people. But others may be recognizing the political infeasibility of their environmental plans.

A new report out earlier this month from the International Monetary Fund (IMF) – an organization that has long embraced the left’s environmental agenda – offers several subtle but noteworthy admissions about the realities of liberal climate policies.

The report notes that many countries “are facing high debt, rising interest rates, and weaker growth prospects,” but maintains that “Global warming threatens the planet and human livelihoods.” Even in the face of record deficits as a result of legislation like President Joe Biden’s “Inflation Reduction Act” subsidies in the United States, the IMF recommends spending more still. They assert that in order to stave off a climate catastrophe, “public debt in advanced economies would rise by 10-15 percent of GDP by 2050.”

In addition to deficit spending, the IMF also recommended that governments adopt “carbon pricing” policies, otherwise known as a “carbon tax.” These taxes are imposed on fossil fuel companies, with the revenue generated from them supposedly used for projects to reduce emissions and pull carbon out of the atmosphere.

For consumers, the reality of “carbon pricing” is higher energy costs, as utility companies pass the added financial burden on to their customers. In fact, the IMF even sees higher energy prices as a sign that carbon pricing policies are working, noting, “The surge in energy prices in 2022 has shown that firms are able to invest in energy efficiency and reduce energy consumption when confronted with large energy price shocks, suggesting that regulations, incentives, and carbon pricing schemes can accelerate firm decarbonization efforts.”

The IMF also recommends other strategies to “raise revenues to maintain debt sustainability” – in other words, higher taxes. These strategies include more “fuel excises,” a policy that would mean already high prices at the pump would increase even further.

In Europe, some political leaders seem eager to implement the IMF’s recommendations. The European Union’s new climate chief, Wokpe Hoekstra of the Netherlands, has said that he wants to explore “an international kerosene tax, a maritime levy, a fossil fuel tax and even a share of ETS [emissions trading scheme] proceeds.”

Liberals in the United States have likewise continued to advance a series of far-reaching climate policies. In addition to the hundreds of billions of dollars in green subsidies included in the Inflation Reduction Act, the Biden administration is looking to impose what is in effect an electric vehicle mandate on American automakers. Biden has also introduced more costly regulations on fossil fuels companies.

But the recent election of several conservative governments in Europe in part over opposition to liberal climate policies has even some liberals rethinking their position.

U.K. Prime Minister Rishi Sunak rolled back several environmental regulations last month, including pushing back Britain’s ban on new gas-powered cars from 2030 to 2035. Sunak said that he was “sparing the public from the unacceptable costs” of liberals’ “net-zero” agenda, and would continue to enact other similar policies in the future.

Greek Prime Minister Kyriakos Mitsotakis, who was elected in June, has emphasized “quality over quantity” on climate policies. A former financial analyst, Mitsotakis has said that Greece must balance the risks of overzealous environmental policies that place an undue burden on Greek families.

Italian leader Giorgia Meloni’s Cabinet has hustled to temper the astonishing escalation of green radicalism, particularly in business regulations that deter investment, after two decades of Leftist rule. In her first year, Meloni successfully negotiated an “Italy First” energy policy, including a slowdown on the EU combustion engines ban, an exemption to excavate Italian gas, and the building of an “energy hub in the South” for Europe.

There have also been some signs that traditional climate hardliners like France and Germany have started to realize that disaster was looming. Both countries have reversed course on shutting down coal-fired power plants amid threats of winter blackouts.

Even Roberta Metsola, the President of the European Parliament, has backtracked on her prior enthusiastic support for the left’s radical environmental agenda. In a recent interview with the Financial Times, Metsola asked, “Why have we stopped talking to our businesses? Have we not placed being climate ambitious as not being mutually exclusive with economic growth?”

Although Metsola later clarified that she was still “very green,” the comments nonetheless showed that even European liberals recognize that their environmental policies are growing increasingly unpopular. European Union lawmakers face elections next June, with energy costs sure to be top of mind for voters.

But for liberals, softening their stance on climate policies risks alienating their base, as well as many institutional sponsors who have embraced the radical climate agenda in exchange for lucrative subsidies and tax exemptions. Those unprofitable businesses that rely on green subsidies will surely be fighting very hard to keep their income stream in place.

The progenitors of the “green” agenda thus may have placed themselves in an electoral bind. The consequences for those in power may be quite unpleasant.

Ben Solis is the pen name of an international affairs journalist, historian, and researcher.

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Robert Zuccaro
Robert Zuccaro
6 months ago

Stupid is as stupid does. Guess that’s why stupid keeps voting for these ppl…

Bear
Bear
6 months ago

Okay, then tax those who want it, believe in it, but, when taxed, will suddenly be against it.
Leave the rest of us out of this insanity; get help (you are blind, numb, and clones of the horse pucky being spread). Trust the science, and stop the BS.
There is a way, but not one or the other, what dweebs you have become, unwilling to seek solutions that will be sensible, lasting, adopting the CORRECT science, and with a dose of common sense.

legally present
legally present
6 months ago

Yeah, we’re just starting a new money tree in our back yard to fund all this BS when all we need to do is open the oil fields. Hasn’t stopped Joey and the other idiots from flying all over the world, while we’re grounded because we can’t afford anything. EVERYTHING has gone up, taxes, fuel, food, insurance, but what tiny piece they give seniors is ALL taken up with higher medical premiums. IF you didn’t have a job that funded your supplement when you retired, you’re toast.

Veteran
Veteran
6 months ago

If their bread turns green they throw it in the trash, time people start to apply the same principle to their politicians; it’s the healthy thing to do!

Bil Smith
Bil Smith
6 months ago

Only way to save the world is to indentify, capture, and eliminate all the liberals. They couldn’t nail two boards together in a straight line, but they have the solutions to everything else. Should not be tolerated for a moment.

Newday
Newday
6 months ago

It’s all about getting more money. The global extremists push their agenda of lies and fear to get more money. Instead of helping people and the planet, they are hurting people and pretending they are helping the planet.

JimD
JimD
6 months ago

The Green Agenda reminds me of the Movie The Time Machine where Rod Taylor and his MACHINE advance to some ridiculous science fiction year where he lands under a sphinx and finds a Green Land with a group of people swimming and sun bathing along a river, the Land contained Fruits and Vegetables that the group farmed out for their Food, when the Alarm sounded they arrived at the cafeteria and their Food was arranged perfectly by the Govt, which were the Morlocks, ugly Govt, creatures controlling the people, which is what we have now, let’s call Wash DC where the Sphinx is.If you’ve seen the Movie you remember they had a library and when Rod touched the books they crumbled into dust I’d call this Cancel Culture!. At a certain time during the month the Alarm would sound and the people would respond like Robots and walk to and Enter the Sphinx where the the Morlocks lived..Bones were discovered..the Govt. Morlocks were Cannibals. this is the Democrat Socialist Plan (evil) this is what AOC the Idiot wants!!!…that’s my rant for the day!!

Stephen Russell
Stephen Russell
6 months ago

Defund Green killing the Globe

Kjhanover
Kjhanover
6 months ago

All these billions + impossible regulations…to lower the temperature by about 1°. This will go down in history as THE MOST outrageous government scam EVER.

Thinking
Thinking
6 months ago

Climate change is thus a political phenomenon. The left is willing to collapse their countries economy for climate change. The people have to pay twice. First to reduce the carbon footprint for businesses, by us paying more in taxes. Then once more by the mandates to buy an e vehicle and electric appliances.
Do we get a refund when this climate change is proven it does not exist? At least not to the extent they are screaming about now.

Ka-Tay LuCille Bennett
Ka-Tay LuCille Bennett
6 months ago

I don’t know why they want to implement their green policies when China ignores their own majority impact as well as Japan releasing toxic radioactive waste into the ocean every day.????????????‍♀️

Rick Flint
Rick Flint
6 months ago

When will people realize that liberals are doing the bidding of our enemies. While we starve ourselves of domestic fuel, and build Solar and Wind farms, China builds more coal fired power plants and laughs their asses off at us, while burning our coal.

Robin W Boyd
Robin W Boyd
6 months ago

Citizens worldwide are being raped of tax dollars by Progressives in all nations. The only nations not being affected are Communist and Islamic nations. Citizens of those nations have no control over earnings for other extremist political reasons.
We must put a stop to Progressive social and environmental programs. Their only goal is to take more tax dollars from citizens while providing nothing but more controlling regulations.

David Millikan
David Millikan
6 months ago

I will NEVER SURRENDER to TYRANNY.
I will Vote for President Trump because he is a True American and Stands for the United States and American people First.
Unlike Dictator Beijing biden who is a Communist China Spy Agent and supports TERRORIST (Giving them $6 Billion and more including accepting Bribes and Payoffs) while hiding on the beach this past weekend like he does every weekend since 1-20-21, so he can continue DESTROYING the United States.
Also the IMF admits increase in Higher Taxes for their Fascist Green Agenda. NO BS. So get ready to have even less money and no toys for the kids this Christmas including your bank account empty.
The FAKE news will never tell you this.

Gabe Hanzeli kent wa
Gabe Hanzeli kent wa
6 months ago

!6000 scientist agree there is not climate crisis. now based on that. what is the IMF even talkign about? the new green deal is just an effort to tax Americans at a higher rate. every leftism religion person knows that is true.

I have a challenge for the leftism religion folks. we will go along with your new green deal if first you do the following:

1, make government paid people lying to the citizens of america a felony.

2, make government paid people who violate the constitution a felony.

3, Make all corruption by government people (bribery, insider trading, sweetheart loans, influence selling, hiring family, perverted acts, adultery, molestation, etc.) punished at twice the penalty as the highest penalty ever imposed for that crime in the USA.

4, Use all taxes on vehicles for raid repairs and construction. all gas tax, electric vehicle charging taxes, licensing taxes and fees, tire taxes, repairs taxes, parts taxes, windshield replacement taxes, car wash taxes, etc.. They all go to the roads.

5.make all government officials who suggest, create, inspect, enforce, or impose laws on person property individually pay the individual citizens for the impact of their laws, make is automatic with now court requirement.

6, force an suggested law on any consumer item be forced to provide detailed factual reasons for the law. Detailed fact based science that is undisputed to defend the reasoning. Show Detailed undisputed facts of the negative and positive impacts, the law makers plan to mitigate the negative impacts. that the time period of the law. if the facts end up being disputed or the facts can not be proven that the concept behind the law is immediately discredited and not allowed to be disgusted or broached by law makers for the next 50 years.

7, make all testing on all drugs publicly available at all times. if any testings withheld for any period of time more then two weeks then the individuals workign for the pharmaceutical company, cdc, fda, nih and all other government health agencies both federal and local must pay for the drug for all user and all impacts for the drugs for the rest of the time the drugs and impacts exist.

8, any leftist / democrat idea that is proven false and failed must be publicly listed as a failed idea.

9, all impacts from all government actions are to be paid for by the government individuals who are imposing, creating, suggestion, changing, for applying the law.

BART ANDERSON
BART ANDERSON
6 months ago

The biggest challenge that I see is trying to sort through the fake news media’s love of Climate Change news, and there liberal agenda. The US continues to mothball coal fired power plants, and support green energy solutions that do not produce true and stable baseload for the power grid like wind and solar power generation. Coal is by far the cheapest source of American Electrical Energy Generation. While we tie both hands behind our back China is ramping up with coal fired economical power generation and in 2022 commissioned 2 coal fired power plants per week:
energyandcleanair.org/publication/china-permits-two-new-coal-power-plants-per-week-in-2022/

Sue
Sue
6 months ago

Don’t want anything to do with IMF or the Democrat greenies. Get back to common sense living and stop with all this other green agenda crap.

Patricia
Patricia
6 months ago

Then let Libtards fund it!

Glen
Glen
6 months ago

Three words for the “green agenda” — FRAUD — FRAUD — & — FRAUD

Jeri
Jeri
6 months ago

Not interested, thanks anyway…

David Millikan
David Millikan
6 months ago

Another plot to steal our money for their Global Warming Lies and have only the very few (Soros funded) have all the money for power and control while we become their SLAVES.
WAKE UP and REFUSE THIS TREACHERY.
Tell Dictator Beijing biden, Senate, and Congress that we will NOT COMPLY.
Also DEMAND NO MORE of AMERICANS MONEY goes to the IMF and the WHO.
President Trump did the right thing and STOPPED funding the IMF and the WHO with our money cause he knew that they do NOT support the United States.
Both the IMF and the WHO are Communist China Controlled and Dictator Beijing biden supports all 3 of them along with Terrorist Iran as we all have seen firsthand by giving them $6 billion for Terrorist Attacks.
AMERICA 1ST.

Jack Davis
Jack Davis
6 months ago

I want to know when the robbery is going to stop looking at the sky I’m seeing clear blue sky the newer cars aren’t spewing out smelly exhaust. Who’s pockets are being lined with all of the money are we making the individual freaks rich for there remarks?
Inflation our senior citizens are going back to work inflation is destroying their retirement income yet we’re taking care of the illegals putting them up in hotels while many Americans are sleeping on the streets.
Does our President care about our what is happening?

Leslie Jones
Leslie Jones
6 months ago

Nonsense! Governments, especially here are hugely overblown. Every department needs revision to cull out the wastage and cost overruns. Then we need to put in incentives for productivity, just like every other business.

Sean Rickman
Sean Rickman
6 months ago

Climate change is just what it is and was until the powers that be decided to exploit it.The climate constantly changes and the liberals may exploit it,but they can’t change it.

Randall L. Beatty
Randall L. Beatty
6 months ago

There is nothing but a tax payers money give away from the Biden and VP and there team in the White House the only thing you can do is raise taxes to fund everything. If the Dems in this country did not see this coming they are in la la land we need to make better decisions in who we elect from here not just to put someone in just because it is your party.Biden and his VP will never be the answer we need better.

Pat R
Pat R
6 months ago

It’s more than past time those pushing their costly agenda have to suffer the consequences of their idiotic decades-long push. And way past time their revenue stream dries up. Go get a REAL job; and send purveyors (i.e., Al Gore) to insane asylums where they belong.

Jackie
Jackie
6 months ago

Is there really such a thing as a money tree because I need one!! I am running out of my retirement money due to having to care for a sick granddaughter. I am already freaking out about getting at job at 75 and then Joe comes out talking about more taxes and his green new deal, electric everything, more taxes, wind, solar, more taxes!!!! All of this is costing me money and I don’t have any more to give!!!! Democrats are bankrupting Americans and America as they go about their normal spendthrift ways!!!

Patriot Will
Patriot Will
6 months ago

Too many of the green zealots are destroying mankind, because they are incapable of keeping their hysteria under control. They are so much like Chicken Little with their notions of “The sky is falling.” Sadly, instead of acting in proportion and looking at things logically, they are actually encouraging the downfall of civilization.

Casey C Matt
Casey C Matt
6 months ago

So what? Who doesn’t want to pay higher taxes to fund the climate cult? I mean, someone has to come up with money to help Greta van Thunberg overcome her autism. My goodness, isn’t it amazing that such a grand and great green movement has a mentally faulty forever 13 year old as their leading spokes creature?

Donna
Donna
5 months ago

They have their “base” because of new liberal voters graduating from the public schools every year who have been indoctrinated.

Steven
Steven
6 months ago

The liberal “Green Agenda” is a pipedream. It is a made up crisis that benefits and enriches individuals and preferred industries that cannot make it on their own. Stop the insanity and ripping off the taxpayers of this country.

Wayne
Wayne
6 months ago

I HOPE that this not a great new Revelation. EVERY PENNY that the Government “Wastes”, “Spends” or “INVESTS” comes from the American Taxpayer. Unfortunately, Government only spends. GOVERNMENT is an Expense Item on a Ledger. There is so much waste in Government. Government’s biggest obligation is to protect it’s legal Taxpaying Citizens and many if not most Politicians are not frugal or careful about spending Taxpayer Dollars.

TPS
TPS
6 months ago

They think taxpayers are an endless supply of money it’s time we remind them it our money and we need them to be better stewards of our tax dollars and stop wasting it. Start with our tax dollars for our country and citizens first! IMO

Moses
Moses
6 months ago

These people have never had real jobs. They went to school, now teach. Wouldn’t know how to clock in if their lives depended on it. The real world is hard, something these folks know nothing about. When we all have no cars to drive, no crops in the field, no meat in the grocery store, no electricity, no gasoline, we can all die together knowing the planet will be cooler,or warmer, or whatever they decide it needs to be.

G Morgan
G Morgan
6 months ago

THE GREAT UNIFIER !

Joyce
Joyce
5 months ago

Excuse me! No taxation without representation! No one is representing the Americans that are not falling for this so called green agenda! I do not want my tax dollars going to this crack pot idea!!

no-mo-libs
no-mo-libs
5 months ago

Why? Let the people who are afraid of their future find investors to ‘help save their souls’. Why burden the rest of us who are cool on the issue.

Jackie
Jackie
5 months ago

You can only tax people so much before they rebel!!! If you want a green economy, a green world, it needs to come a little bit slower than the EV revolution did!!! There are so many problems with the electric vehicles and there have been so many lies or absolute omissions when it comes to the components and their recyclability of them!!! People will also be more likely to accept these kinds of things if you DON’T mandate them!!! People don’t necessarily like being forced into things!!!
I’m not convinced that the environmentalists actually care about the planet because I feel that they all have invested heavily in the companies that would profit if the green new deal is ever fully implemented so they are going to lie to us for their own personal gain, not for the planet!!!!

ButchDG
ButchDG
5 months ago

IMF – “International Mafia or Marxist Fund” !

Rich
Rich
5 months ago

You mean common sense wins again? Who would’a thunk?

David
David
5 months ago

The American citizens of this country are being taxed to fund electric cars and illegal immigrants which are both not wanted unless they come to this country legally. I voted for Trump last election it’s a shame that those who voted for Trump have to deal with this calamity of a distraught president and administration that’s damaging this country and hopefully doesn’t lead us into a world war.

jimm
jimm
6 months ago

Is the IMF admiting that “Bidenomics” is failure? That “Bidenomics” can’t even get out of its’ own way, much less fund the left’s green agenda?

Tc
Tc
6 months ago

This is crap. Tax us to death. Covid screwed us up. Overprice our supplies on food and products. Kill us on property taxes etc etc. The left is destroying the country and our international merits. Headed to wwIII. Electric cars still use fossil fuels to generate electricity. Useless of course. And besides that. Revelations is in play. God will solve your woke agendas on this green crap. The way this world is going at the moment Jesus will come and fix everything. That far left agenda only gets us closer to His day of arrival.

Jack Davis
Jack Davis
6 months ago

I’m getting fed up with all of this money going for the inviroment we’re is it actually going I look at the sky no dirty look. The exhaust from new cars isn’t spewing out a bad smell. Biden’s

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