Monday, December 10, 2012

Monckton Deserts Tea Party, Proposes 1.2% Global Warming Tax

Speaking in Doha, Lord Monckton has justified an annual expenditure of $1.4 Trillion a year to curb rising global temperatures.

According to the noted psephologist and shirtmaker's analysis, expenditure of $ 317 trillon  to fight cimate change between now and 2020 would be largely wasted:

" it comes out at 317 trillion dollars in cash...that's 59% of global GDP just to forestall 1/6 of a Celsius warming between now and 2020... This gives you a 48 fold multiple of the cost of action now, aganst the cost, according to Stern, of not taking action now and waiting until later."
Dividing $317,000,000,000,000 or 59% of GDP  by the viscount's 48-fold discount yields a global justified action expenditure tax  of 1.22%, or  $ 6.6 Trillion, which amounts to some $825,000,000,000 a year to do something, rather than nothing, to forestall radiative bracket creep from fossil fuel burning.

To put such an enormous figure in perspective, it would be enough to provide every man on Earth with four Monckton shirts and an autographed copy of the viscount's Daily Telegraph sudoku collection annually.