Plus, use *My Carbon Tax* to estimate and send Carbon Tax bills to businesses and other individuals - to get them to pay their fair share too.
1/ Prep step! Find out or estimate your net pay, the company's net profit, or another person's net pay [before taxes].
2/ Math step!! Multiply the net profit or net pay by 6% [for an individual] or by 12% [for a company]. Add 1% to those rates for each additional $100,000 of net profit up to $1,000,000. Deduct 1% from the individual rate for each $10,000 of net profit that is less than $60,000. [Prorate.] *
3/ Earth hero step!!! Then pay that Carbon Tax via a carbon offset organization if it is for yourself or your business!
Or, send that Carbon Tax bill estimate to the relevant business or individual via social media and/or email - with a link to XOEarth.org/My-Carbon-Tax or a note explaining the bill.
Excellent carbon offset organizations ::
Here are some of our fave orgs that have crucial projects that you can invest your Carbon Tax payment in. Check 'em out!!
+ TheNatureConservancy.org / greenliving/carboncalculator
+ ArborDay.org /carbon
+ RenewableChoice.com / services/energy-attribute-certificates
Organizations that fight climate change ::
If you prefer, we think it is totally ok to invest your climate tax payments-investments in an organization that does work that is helping fight to slow down climate change - even though that org is may not be doing third-party-certified carbon offset projects.
So here are some superb organizations that are fighting climate change that you can make your climate tax payment-investment with.
Why it is called My Carbon Tax, and not My Carbon Offset ::
Our planet cannot force us to pay a tax for the projects that are necessary to keep her alive. However, we should be paying those taxes anyway to help her not die and to keep us alive too.
The term "Carbon Offset" sounds too optional to me. I hope that everyone will start feeling obliged and happy to invest in our Earth and projects. I hope that everyone will say with pride, "I am paying My Carbon Tax".
Let's pay our Earth's biosphere for the life sustaining services she is providing us.
For all the life, Stele Ely
Example of a Carbon Tax bill and the link sent via Twitter or Facebook ::
Hello @ExxonMobil XOM, Have you paid your 2018 $546 million Carbon Tax bill? Please tell us! XOEarth.org/My-Carbon-Tax #ClimateChange
Example of a Carbon Tax bill and the note sent via email or Facebook ::
Hello and a Livable Earth to [ExxonMobil XOM / company name] ::
This is a copy of your 2018 [$546 million / or relevant tax] Carbon Tax bill.
Your Carbon Tax bill is an estimate of how much your business or you should pay to your favorite carbon offset organization.
Please pay your fair share to help slow down climate change and keep our planet livable.
If you have already paid your Carbon Tax bill, proudly announce it on your social networks so we can thank you and celebrate your eco logical commitment.
When you post about your Carbon Tax bill payment, include the name of the carbon offset organization and/or project that you funded, and link to that organization's acknowledgement showing that you have paid your Carbon Tax / carbon offset. Announce your Carbon Tax payment on your website too.
Your payment will help fund projects that offset the dangerous impacts of your CO2 pollution on humanity and other species. These projects may include tropical and boreal reforestation, leaky natural-gas wells repair, abandoned-landfill methane gas collection, methane capture from abandoned farm waste ponds, protecting forests from illegal logging, small hydro funding, wind farm funding, energy efficiency programs, tree planting and waste energy capture.
A company Carbon Tax bill calculation is based on net income, estimated wages and salaries paid, World Bank CO2 emissions metrics, and a US$200 per tonne of CO2 emissions Carbon Tax. An individual Carbon Tax bill excludes wages and salaries paid in its calculation.
The US$200 Carbon Tax is lower than some recommendations. Sweden's 2017 rate is US$132 per tonn.
This Carbon Tax is in addition to your sustainability expenditures, renewable energy choices and sustainable investments. This is because, not only are your sustainability expenditures and investments the ethical thing to do, they often save you money in the longer run, increase customer loyalty and reduce your taxes.
This Carbon Tax is also additional because we all need to go big or risk the total loss of our biosphere - with some scientists saying as early 2035. [Go Big or No Home.]
To honor you for paying your Carbon Tax, I will continue to be one of your loyal customers or fans. I will also thank you for paying your Carbon Tax via my social networks and recommend your business.
Thank you big time for paying your Carbon Tax bill and helping fight climate change.
For all the life, Stele Ely and Co-Signers
PS: To review the basis for the $ amount of your Carbon Tax bill go to XOEarth.org/My-Carbon-Tax
Dear Earth Warriors who join us in sending out My Carbon Tax bills ::
Thanks from 4,000 kids and creatures of the future for every Carbon Tax bill that you send out to a company or individual.
Thanks also from your own future self 😉 for sending out those bills, and for paying your own Carbon Tax bill.
Plus, every Carbon Tax bill that you send out helps build momentum for mandatory Carbon Taxes to pay for CO2 emission reduction projects.
Let's keep sending out those bills on behalf of our exquisite but endangered planet Earth. Let's get those bizzes and peeps to pay their fair share to stop the climate change hurricanes, heat waves, floods, wildfires, sea level rise and other monsters.
For all the life, XOEarth Stele
* Basis for My Carbon Tax % - Summary ::
Company and individual Carbon Tax rates are based on the World Bank's estimate of CO2 emissions per US$1 of GDP, and, Carbon Tax per tonne recommendations from the United Nations, Climate Shock book, PHYS.org and others.
Basis for My Carbon Tax % - Details ::
+ The World Bank estimates that the CO2 emissions from one US dollar [US$1] of GDP is .30 kilograms. [.325 kg worldwide average] data.worldbank.org/indicator/EN.ATM.CO2E.PP.GD
+ Forbes writer Tim Worstall says that a company's fraction of the GDP can be assumed to be the net profit of the company, plus employee's wages and admin's compensation. www.forbes.com/sites/timworstall/2011/06/28/gdp-for-a-country-is-not-the-same-thing-as-turnover-for-a-business/
+ A United Nations paper says that carbon priced at US$100 per tonne would encourage sustainable energy use and pay for sustainable carbon reduction projects. UN Emissions Gap Report / by UN Environment authors www.unenvironment.org/resources/emissions-gap-report
+ Climate Shock book and/or presentations / by Gernot Wagner and Martin L. Weitzman say that carbon should be priced at least US$40 and up to US$400 a ton.
+ US$40 was the U.S. government’s valuation per tonne in 2015. [per Climate Shock book]
+ PHYS.org says a UNSW study shows a carbon price of between $50 and $100 per tonne of carbon dioxide would make coal-fired and gas-fired power less economical than renewable electricity. https://phys.org/news/2017-05-carbon-tax-climate-economists.html
+ So, we chose $200 a tonne to try to play it safer for our planet.
+ Labor costs vary greatly by industry - but in general it seems runs from 10% to 30% of gross income, and roughly 100% to 400% of net income. www.bizstats.com/industry-financials.php
+ We chose a labor cost of 200% of net income as a rough estimate to get the My Carbon Tax rate for businesses.
+ When we say "labor costs" we are including all payments to labor for work done, employee wages, contract labor wages, administrative salaries and officer salaries.
Basis for the My Carbon Tax % - Formulas ::
This initial carbon tax rate is calculated for the $60,000 net income level. Rate adjustments for levels above and below this $60,000 is described further below.
US$200 carbon tax per 1000 kg (1 tonne), so
US$200 per 1000 kg = US$.20 carbon tax per 1 kg, so
US$.20 carbon tax per kg X .3 kg CO2 emissions per US$1 GDP = 0.06 per US$1 of GDP, so
0.06 per US$1 of GDP is the 6% tax, so
Net income before taxes (of a company) X 2 (labor costs factor) = carbon tax is business net income X 2, so
[Business My Carbon Tax rate on net income] 2 X 0.06 = 0.12 [12%]
For the individual, their Carbon Tax percentage is half of the business rate because it is assumed here that most businesses are not paying their voluntary Carbon Tax as calculated above. If a business does pay for the employee's Carbon Tax, the individual would not be obliged to pay any Carbon Tax. Also here, we are not asking the individual to pay the business's share of the carbon tax. So,
[Individual My Carbon Tax rate on net income] 0.06 = 0.06 [6%]
However, if a business were to require an individual to pay their carbon offset tax, the business would not have to pay the individual's share.
Also, to prevent the tax from being regressive, the tax rate increases as income level increases above $60,000, and, the tax rate decreases as income level decreases below $60,000.
Therefore, add 1% to those rates for each additional $100,000 of net profit up to $1,000,000. Plus, deduct 1% from individual rate for each $10,000 of net profit that is less than $60,000. [Please prorate the rate increments.]
Another justification for the rate increments is that the IPCC says that if we do not act now, the price on carbon may need to jump above $1,000 a tonne sometime before 2030 and perhaps reach as much as $27,000 a tonne by the end of the century if we do not act now. [How High Does Carbon Need to Be? Somewhere From $20-$27,000 / Bloomberg.com] [The Intergovernmental Panel on Climate Change SR15 / IPCC.ch]
+ CNN.com / Sutter : There's a cheap, proven fix to the world's biggest problem
+ TheGuardian.com / Phillip Inman : Sky-high carbon tax needed to avoid climate catastrophe, say experts : Economists, including Joseph Stiglitz and Nicholas Stern, say taxes of $100 per metric tonne could be needed by 2030
+ NYTimes.com / Tina Rosenberg : Guess Who’s for a Carbon Tax Now
+ taxpolicycenter.org/briefing-book / What is a carbon tax?
+ TheGuardian.com / environment/carbon-tax
+ TheNatureConservancy.org / greenliving/carboncalculator FYI
+ Society, Ethics, and Technology, Update Edition 4th Edition / by Morton Winston and Ralph Edelbach 2011. "We recommend increasing this carbon tax by $20 per ton over the next 10 years for a total of $200..." "... High though this is, it does not come close to covering all the indirect costs of burning fossil fuels." pg 414
+ Cars, carbon taxes and CO2 emissions / by Julius Andersson 2017 Centre for Climate Change Economics and Policy [Sweden's carbon tax per ton of CO2 is US$132 in 2017]
+ PHYS.org / 2017 $100 carbon tax by 2030 could save climate, say economists.
+ TheGuardian.com / 2017 : To achieve Paris climate agreement’s limit of 2C rise, pricing will have to increase to more than $100 a tonne, claims Schroders.