Plenitude: The New Economics of True Wealth
by Juliet B. Schor · 12 May 2010 · 309pp · 78,361 words
clean energy. The new conventional view is that climate change can be solved by innovative technologies and market incentives such as a price for (or tax on) carbon. There’s palpable excitement about plug-in hybrids, smart grids and smart homes, renewable energy, and reflective roofs, as well as a significant government role
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ways to circum-vent rebound effects. Keeping the price of energy high is key. But even this isn’t a panacea. If there’s a tax on carbon, and those tax receipts are spent, they too create demand for products and, by extension, for more emissions. Even if we manage to shift out
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-being. It’s how efficiently we produce, not how much we produce, that determines how well off we are. Victor also worked through scenarios for taxing carbon, and showed that emissions can fall even as the economy produces rising GDP per person, declining unemployment and poverty, and a reduction in government debt
A Fine Mess
by T. R. Reid · 13 Mar 2017 · 363pp · 92,422 words
. Flat Broke 7. The Defining Problem; the Taxing Solution 8. Convoluted and Pernicious Strategies 9. The Single Tax, the Fat Tax, the Tiny Tax, the Carbon Tax—and No Tax At All 10. The Panama Papers: Sunny Places for Shady Money 11. Simplify, Simplify 12. The Money Machine Epilogue: The Internal Revenue
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.) Would it work? As it happens, about a dozen countries have actually tried this innovation. From the left, there have been repeated proposals for a carbon tax, designed to reduce fossil fuel emissions and thus encourage development of “green” forms of energy. As it happens, Australia actually tried this innovation—and quickly
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.9 France, of course, had both the inheritance tax and the wealth tax—not to mention the health insurance tax, the Social Security tax, the carbon tax, the income tax, the capital gains tax, and a national sales tax of 20% on almost everything you could buy—when François Hollande finally imposed
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. government, has become just another minor revenue source. There are already many of those. 9. THE SINGLE TAX, THE FAT TAX, THE TINY TAX, THE CARBON TAX—AND NO TAX AT ALL Thomas Piketty’s surprising bestseller, Capital in the Twenty-First Century, sold nearly a million copies in the year after
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on tax issues in the U.S. Congress. — ANOTHER NEW FORM OF TAX that has been tested around the world in recent years is the carbon tax—that is, a tax on carbon-based fuels and emissions of carbon dioxide into the atmosphere. As with the soda pop and financial transaction taxes, the
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carbon tax has two purposes: it would raise revenue for government, of course, but it should also serve to offset the production of greenhouse gases (mainly, carbon
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additional tax revenue at the same time, all the better. A 2015 study by the International Monetary Fund set forth the basic argument for the carbon tax in a nation (like the United States) that is running large government deficits: In the absence of mitigating measures, rising atmospheric concentrations of carbon dioxide
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the medium to longer term because of higher interest costs and growing spending for Social Security and the government’s major health care programs. . . . A carbon tax—that is, a tax on the carbon content of fossil fuels (or on their carbon emissions)—could help address both of these problems
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. Carbon taxes are potentially the most effective and cost-effective policies for reducing CO2 emissions. . . . These taxes could also raise substantial revenues for easing fiscal pressures and/
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or funding reductions in other taxes.5 Carbon taxes come in various shapes and sizes, but there are basically three ways to tax CO2 emissions. The emissions tax measures how much CO2 pours out
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carbon, so coal is taxed higher than crude oil, and oil is taxed higher than natural gas. Economists at the IMF prefer this form of carbon tax, which avoids the need to install complex emission gauges on smokestacks and such. Coal mines and oil wells already know how many tons or barrels
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they are selling to the power company, so it is easy to compute the carbon tax they have to pay. Because the coal and oil companies will pass the tax on to their customers through higher prices, this type of tax
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to calculate and collect the tax each time a motorist fills her tank. There is theoretically a lot of margin in the United States to tax carbon by increasing the gas tax, because America’s taxes on motor fuel are much lower than those in most other countries. The New York Times
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would reduce gasoline consumption and thus reduce imports of oil from the Middle Eastern countries that finance terrorist groups. A common way to implement the carbon tax is through a quasi-market mechanism called an emissions-trading system. There are dozens of these operating at the multinational, national, state, and local levels
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Advisers under George W. Bush, agrees: “There is little doubt in my mind that for dealing with global climate change, the best policy includes a tax on carbon emissions.”6 But bipartisan backing from academic economists doesn’t necessarily make a difference when it comes to tax policy in the United States. In
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conflicted that Julia Gillard, the candidate of the Labor Party (the Australian equivalent of our Democrats), made a solemn pledge that “there will be no carbon tax under the government I lead.” So much for solemn pledges. When no party won a majority in the election, Gillard decided to cut a deal
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to form a coalition government that would make her prime minister. The price was straightforward: to get the Greens’ support, Gillard agreed to pass a carbon tax, to be imposed on mines, power plants, factories, and airlines. This new tax took effect in July 2012 and had one immediate impact: everybody’s
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, cutting carbon emissions became a far less popular policy in Australia. The opposition parties pounced. Because every home and business used electricity, they called the carbon tax “a great big new tax on everything.” They labeled Julia Gillard “Ju-Liar Gillard” for going back on her no-tax promise. The media magnate
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’s equivalent of our Republicans. The Liberal leader, Tony Abbott, based his entire campaign on a promise to “axe the tax.” The backlash against the carbon tax was so intense that Gillard’s own Labor Party dumped her in 2013 and replaced her with a more popular former Labor prime minister. But
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it was too late. Abbott’s party won the election, and the new conservative Parliament repealed the carbon tax just two years after it took effect. The Wall Street Journal (another Murdoch property) warned that Australia’s action “could highlight the difficulty in implementing
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additional measures to reduce carbon emissions.” Many Australians agreed, including those who had supported the carbon tax. “What we have learned,” said Professor Bill Butcher, a tax expert at the University of New South Wales in Sydney, “is that people are enthusiastic
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J. Kotlikoff, “Abolish the Corporate Income Tax,” New York Times, Jan. 6, 2014. Chapter 9: The Single Tax, the Fat Tax, the Tiny Tax, the Carbon Tax—and No Tax At All 1. All these quotations come from Henry George, Progress and Poverty: An Inquiry into the Cause of Industrial Depressions and
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and Evidence” (International Monetary Fund working paper 11/54, Mar. 2011). 5. Ian Parry, Adele Morris, and Roberton C. Williams III, eds., Implementing a US Carbon Tax (New York: Routledge, 2015), xxiii. 6. Summers and Mankiw quoted in ibid., frontispiece. Chapter 10: The Panama Papers: Sunny Places for Shady Money 1. Steven
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, 40, 55, 143–44, 161, 163, 211, 223, 255 Austen, Jane, 121 austerity measures, 34, 42, 52, 112, 127, 129 Austin, Texas, 26 Australia and carbon tax, 8, 189–91 tax deductions in, 36, 41, 89–90 tax rates of, 19, 21, 146, 175 tax revenues of, 15, 17 VAT in, 228
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, 121–25, 128, 136, 139, 171–73 capital investment, 23, 56, 102, 114, 123, 136–39, 168 capitalists/capitalism, 29, 94, 101–3, 114, 170 carbon tax, 8, 133, 185–91 carried-interest preference, 137–39 cars, 107–8, 128 electric, 36, 71–73, 80, 251 fuel efficiency of, 21, 39–40
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–27, 168, 175, 180, 221 Egypt, 200, 239 Eisenhower, Dwight, 2 electronic trading, 181–84 emissions. See carbon tax Energy Improvement and Extension Act of 2008, 71–73 environment, 51, 168, 189, 191. See also carbon tax Environmental Protection Agency, 39–40 equality, economic, 120, 124 estate tax, 6, 45, 129–32, 192, 246
European Spring: Why Our Economies and Politics Are in a Mess - and How to Put Them Right
by Philippe Legrain · 22 Apr 2014 · 497pp · 150,205 words
keep working could provide increased funding for education and training. Costly subsidies for renewable energy and environmentally dubious biofuels ought to be replaced with a tax on carbon consumption (see Chapter 10). Governments could then cut taxes on labour, creating jobs and boosting living standards. At the EU level, the budget for 2014
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in developing low-carbon technologies that could be deployed elsewhere, nor a role model for the rest of the world in crafting low-emissions policies. Tax carbon consumption How could Europe do better? It is worth persevering with efforts to agree a global deal to limit carbon emissions; the chances of success
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deploying those new technologies worldwide. The next step is to jettison the ineffective, corporate boondoggle that is the ETS and replace it with a tax on carbon consumption. A carbon tax that rose steadily over time would provide some predictability for businesses, enable them to better plan long-term investments and encourage them to try
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developing promising technologies. Importantly, governments wouldn’t be trying to second-guess the best technologies or pick winners among the many clean-tech companies. A carbon tax would be flexible: it could be raised or lowered at will, depending on how conditions evolve. It would be transparent and impartial, imposing the same
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that would enable governments to cut other taxes, rather than providing corporate handouts to polluters as ETS emissions permits do. A tax on carbon consumption would be better than both the ETS and a tax on carbon production because it would actually reduce Europeans’ carbon emissions, rather than shifting them overseas (or achieving very little). While
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taxing carbon production would have a similar impact if the whole world was doing it, taxing carbon consumption is much more effective if only Europe and
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have less incentive to lobby politicians against putting a price on carbon and politicians would no longer have an incentive to impose protectionist “border-adjustment taxes” on carbon-intensive imports. Instead, the carbon consumption tax could be levied much like value-added tax is, on local as well as foreign production. Better still
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more newcomers and reforming pension systems. Last but not least, to cope with radically uncertain climate change, Europe needs better incentives for research and a tax on carbon consumption. Adaptability is a key feature of a successful advanced economy; dynamism another. Adaptability involves coping with and making the most of changing circumstances; dynamism
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. Scrap the EU’s ineffective emissions-trading scheme and its costly command-and-control approach to tackling climate change and introduce a transparent and flexible tax on carbon consumption and ample incentives for research. Replace income tax with a progressive expenditure tax that would boost savings and productive investment and tax unearned income
Common Wealth: Economics for a Crowded Planet
by Jeffrey Sachs · 1 Jan 2008 · 421pp · 125,417 words
, solar, or nuclear) or to use a CCS approach. Mileage standards could be imposed on automobiles in the same manner. An alternative would be to tax carbon dioxide emissions and to subsidize any CCS activities. Such a tax could be easily collected by taxing the underlying carbon-based fuel and then offering
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will ultimately agree to phase in a set of industrial standards (for power, automobiles, cement, steel, and other key sectors) augmented by a gradually rising tax on carbon emissions, a subsidy for sequestration, and perhaps some limited use of a tradable permit system. It is worth noting that revenues from a
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carbon tax or from auctioning carbon permits could be used to finance public goods or perhaps to offset other distortionary taxes. LIVING WITH CLIMATE CHANGE Climate change
Enlightenment Now: The Case for Reason, Science, Humanism, and Progress
by Steven Pinker · 13 Feb 2018 · 1,034pp · 241,773 words
industrialists and bankrollers of climate change denial, in helping to defeat a 2016 Washington state ballot initiative that would have implemented the country’s first carbon tax, the policy measure which almost every analyst endorses as a prerequisite to dealing with climate change.52 Why? Because the measure was “right-wing friendly
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It begins with carbon pricing: charging people and companies for the damage they do when they dump their carbon into the atmosphere, either as a tax on carbon or as a national cap with tradeable credits. Economists across the political spectrum endorse carbon pricing because it combines the unique advantages of governments and
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externality (another name for the collective costs in a public goods game, or the damage to the commons in the Tragedy of the Commons). A carbon tax, which only governments can impose, “internalizes” the public costs, forcing people to factor the harm into every carbon-emitting decision they make. Having billions of
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the atmosphere for free. Without carbon pricing, fossil fuels—which are uniquely abundant, portable, and energy-dense—have too great an advantage over the alternatives. Carbon taxes, to be sure, hit the poor in a way that concerns the left, and they transfer money from the private to the public sector in
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: An Exchange,” New York Review of Books, April 26, 2012. 51. Climate justice: Foreman 2013. 52. Klein vs. carbon tax: C. Komanoff, “Naomi Klein Is Wrong on the Policy That Could Change Everything,” Carbon Tax Center blog, https://www.carbontax.org/blog/2016/11/07/naomi-klein-is-wrong-on-the-policy-that-could
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-change-everything/; Koch brothers vs. carbon tax: C. Komanoff, “To the Left-Green Opponents of I-732: How Does It Feel
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?” Carbon Tax Center blog, https://www.carbontax.org/blog/2016/11/04/to-the-left-green-opponents-of-i-732
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-how-does-it-feel/. Economists’ statement on climate change: Arrow et al. 1997. Recent arguments for the carbon tax: “FAQs,” Carbon Tax Center blog, https://www.carbontax.org/faqs/. 53. “Naomi Klein on Why Low Oil Prices Could Be a Great Thing,” Grist, Feb. 9, 2015
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Pathways Project 2015; Pacala & Socolow 2004; Williams et al. 2014; http://deepdecarbonization.org/. 74. Carbon tax consensus: Arrow et al. 1997; see also “FAQs,” Carbon Tax Center blog, https://www.carbontax.org/faqs/. 75. How to implement a carbon tax: “FAQs,” Carbon Tax Center blog, https://www.carbontax.org/faqs/; Romer 2016. 76. Nuclear power as the new
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inequality; economics capital punishment abolition of, 208–213, 209 cognitive bias study referencing, 359–60 homosexual behavior criminalized, 223 Capp, Al, 297 Caracas, Venezuela, 172 carbon tax, 139, 145–6, 149 Carey, John, 247 Caribbean countries, 89, 175, 201, 203 Carlson, Robert, 307 Carroll, Sean, 385 Carter Center, 65 Carter, Jimmy, 67
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morality and, 428, 431 See also Plato classical liberalism. See Enlightenment, the Clemenceau, Georges, 341 climate change, 136–54 carbon capture and storage, 150–51 carbon taxes, 139, 145–6, 149 climate justice movement, 138–9, 141–2 cognitive impediments to understanding, 140 decarbonization, 142–6, 143–4, 150–52 denial of
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, 335 happiness ranking of, 475n30 terrorist deaths in, 193 Szilard, Leo, 308 Taiwan, 85, 85, 200 Taliban, 67, 240 Tan, Amy, 284 Taoism, 23, 204 taxes carbon tax, 139, 145–6, 149 economic freedom compatible with, 365, 483nn39,42 libertarians and, 364–5 poverty mitigated by, 107, 115–16 Trump and, 335 Taylor
Net Zero: How We Stop Causing Climate Change
by Dieter Helm · 2 Sep 2020 · 304pp · 90,084 words
from the IEM, at the same time the EU pursued a more competitive market-based general carbon policy. Although the European Commission toyed with a carbon tax back in 1991, it was captured by lobbying for a permits scheme by industry and the incumbent utilities. The EU Emissions Trading System (EU
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then allowed these to trade to establish the EU ETS carbon price.[10] The great advantage to the lobbyists of a permits scheme over a carbon tax is that the permits were given out free to the existing polluters (grandfathered), and hence the initial income effects stay with the polluters rather
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border price, as we shall see, has the rather neat property that it incentivises others who want to export to us to impose their own carbon tax. This, and not the UN top-down Paris approach, might actually broaden and deepen the coalition of the willing. PART TWO The Net Zero
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advocates. But piecemeal distributional measures and specific subsidies only scratch the surface. They need to go deeper, and this involves taxation. For the left the carbon tax might raise the money, but it is seen as regressive (although this is far from uncontroversial). The obvious answer for the left is to use
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polluters – especially rich ones – would be able to get away with their pollution. They also raise the question of the behavioural consequences, in that a carbon tax may lead people to believe that in paying it they have discharged their moral responsibilities for causing climate change. That flight abroad for an extra
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holiday does not come with a big dose of guilt if a carbon tax is paid. These are serious objections, and they are about much more than just carbon. The use of pricing generally for these sorts of
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that the target is achieved, or the target can be turned into quantity-based permits, which will trade at a price similar to the alternative carbon tax.[3] In both cases, the end goal is achieved – in theory.[4] It turns out very differently in practice, which is why the major
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make money out of the EU ETS in a way that they would find much more difficult if confronted by a uniform carbon tax. Given that the case for a carbon tax is so powerful, why hasn’t it happened? Here again the politics resurfaces. The politicians do not want to confront voters
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with the costs of their pollution, and a carbon tax does this very much ‘in your face’. Recall the earlier discussion about the myth that decarbonisation will not cost much, if anything, and the easy
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a recent example, joining other diverse examples stretching from Hungary to Chile to Iran. The lesson to take from this political reluctance to introduce a carbon tax at an appropriate level is that voters need to be told the truth. Pretending that decarbonisation is cheap, by hiding behind the subsidies and permits
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carbon floor price, despite heavy lobbying by industry to weaken it. The domain of the tax and the carbon border price What exactly should the carbon tax be on? The answer to this depends on the targets and their specification. If the targets are intended to reduce global warming and, in particular
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of everything from steel to beef faces a competitive disadvantage. It is one reason why both steel and agriculture have needed subsidies, exclusion from domestic carbon taxes and protectionist tariffs. Recall too that it is also one reason why, despite the fall in European domestic emissions, global emissions kept going up over
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domestically with precision either, and it does not need to be. Not to have a border tax, while at the same time having a domestic carbon tax, is precisely wrong. What we want to be is roughly right, to go in the right direction. Practically, the place to start is with
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illegal under WTO rules. There are two obvious responses to this. First, WTO rules do in fact allow for environmental adjustments, and so the border tax on carbon, tied to an explicit environmental target, and applied on the same basis domestically, would probably be fine. Second, the WTO faces far greater challenges to
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way. The really great thing about carbon border taxes is that they also encourage a bottom-up incentive for other countries to introduce their own carbon taxes.[8] Think about the position of the country sending carbon-intensive imports to the UK. The tax is collected at the border and paid
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a critical mass and these powerful incentives will cascade through the global economies as every trading country now has an interest in putting a domestic carbon tax in place. A successful border tax is then one that withers away, a victim of its own success. It internationalises the carbon price. This
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be on producers or consumers? As with most taxes, the trick is to be pragmatic. Imported oil, gas and coal can pick up the carbon tax when they are used, which means that the tax falls on petrol and diesel at the filling station, and on the power station when it
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right. Who fixes the price Fixing and revising taxes is currently mainly a finance ministry function, but this is not necessarily the right approach for carbon taxes. It lacks credibility. The task of government is to fix the targets – such as net zero by 2050. In the UK it is the
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whether the tax will be levied at the border. The delivery body takes the tax design and the carbon budgets as given, and adjusts the carbon tax on, say, an annual basis. It might also give guidance on what it expects the tax to be, say, five years out, projecting over
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and an explanation for each tax change at the annual reviews, the market gets an element of stability in making its investments. The annual carbon tax review might be appended to the annual progress reports on the carbon budgets. The key thing is to make sure it is simple and credible
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such taxation causes: the market will be uncertain; there will be lots of lobbying by vested interests; and the consequence will be that the carbon tax will have to be higher for any given carbon reductions. This is what happened when the Treasury set the interest rates, and it is why
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key to this trick is credibility. Why should you believe that some future government will stick to the targets and be willing to allow the carbon tax to rise? Might not a Trump or a Farage come along at some stage and simply ditch the tax in a populist gesture? What
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to do with the money Carbon taxes have the potential to raise a lot of money. It is even possible that they could raise almost as much as income taxes or
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two different activities, and that the Treasury should raise money as efficiently as possible through taxes, and quite separately decide how it is spent. The carbon tax revenues go into the general government pot, which is then spent on the various things that the government decides, such as health, education, defence,
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the level of the carbon revenue. With this approach in mind, and if the government has a given total spending target, one use of the carbon tax revenues might be to lower other taxes. The government could rely on taxing bads, like carbon, rather than taxing good things like labour, and
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probably to spend on carbon-intensive goods? Or will it be a relief of income tax or VAT, and on which levels and classes? The carbon tax both reduces aggregate demand and changes the relative prices. The recycling just changes the relative prices, keeping up total spending. In the longer term,
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such a recycling approach would be enormous, and it would have the paradoxical consequence of the spending on lowering emissions leading to a lower initial carbon tax. Say, for example, the tax revenues subsidised renewables. A lot more would be built through the subsidies (which are a negative tax) paid out
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approach is more expensive and hence voters will pay even more in total to meet the overall net zero consumption target. Not to choose the carbon tax route with the border adjustment is to choose a higher-cost route, and not being willing to impose these costs means that the government
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the bonus of more oil extracted. The former is a step towards net zero; the latter is not. This might work out if the carbon tax is set at the right level and applied to the oil extracted. But it would not be a good result if there is no proper
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. The trees are needed in order to get to net zero, and the companies trying to get to net zero should be cutting emissions. The carbon tax – the polluter price – is what should do the work here. But you might be thinking, is it not a good idea to have polluting
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construction, the carbon store remains. But if the wood is burnt in a biomass plant, then at this point, having paid for the sequestration, the carbon tax should now apply. Drax, for example, should be taxed on its biomass-burning emissions, just as it should be taxed for burning coal. Even
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it. Requiring each and every company to offset its emissions is neither necessary nor desirable if each and every company is already paying through the carbon tax for the pollution it is causing. The government has a further advantage in investing in natural sequestration. A company will struggle to capture the benefits
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aims to do exactly that, but whether it is fully and properly implemented, and over what timescale, remains to be seen.[8] With the carbon tax revenues to hand, the second option for government is to use a portion of these to invest in green infrastructures, some of which would have
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argued that the government should directly subsidise at least one major demonstration project. But why not go further? Why not use the revenues from a carbon tax to build, own and operate CCS pipelines and a series of storage wells? A new company – let’s call it British CCS – could receive
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monies from the carbon tax and invest in the sequestration. Instead of each company trying to offset its own emissions through CCS, the government could do it. The resulting activity
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bit of research and find out what they actually do, but in principle you can do this. Better still would be to have a proper carbon tax in place. Then you would be paying for the cost of the carbon you emit, and at net zero this will be equal to
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I can offset, and so can companies and governments. We can all just get on with it, especially in the absence of a proper carbon tax. Adding natural sequestration and CCS to the suite of options gets us a long way down the road to addressing carbon consumption, and hence to
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gain and hence offsetting. Together these incentivise innovation, R&D and a carbon consumption response. Making the changes: start with the polluter pays and the carbon tax The polluter-pays principle dictates a carbon price, applied both domestically and at the border. Domestically, petrol and diesel are already taxed very heavily. Indeed
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, once the full supply chain is considered, the energy tax already approximates what a carbon tax would look like in terms of levels. This is how it works. The price of crude oil on the international market is much higher than
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the OPEC Tax is the dominant carbon price in the world, and it applies universally across all countries, although some subsidise their consumers. A carbon tax would be on top of the world oil price. It is the difference between the marginal costs and the world oil price, plus the carbon
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of the various sectors takes place in the lowest-cost way. Put another way, the fact that all the fossil fuels currently have different implicit carbon taxes makes decarbonisation more costly than it needs to be, and hence makes the politics harder too. It is incredibly inefficient. Increasing fuel duty in the
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no doubt that they have been responsible for a lot of innovation. There can also be little doubt that, in the absence of an adequate carbon tax, such regulatory approaches are going to be necessary to force through a sufficiently rapid switch to electric vehicles. Applied at the border too – and
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and grow those subsidies. Once a rule is set it is very hard to get rid of, unless there is some countervailing vested interest. Unlike carbon taxes, regulation is easy to capture, and it usually is captured.[14] Urban regulation and planning The other pollutants from transport are mainly local in their
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substitution is possible. That public transport can be electric: directly, or indirectly via hydrogen. Provide the public goods: innovation, R&D and the new infrastructures Carbon taxes, augmented by regulation, make polluters pay, and that means those of us who drive the cars and expect our goods to be delivered to our
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the consequences. The greater the ‘gain’ bit in net gain, the more the consequences are ameliorated. The difficult bits: aviation and shipping Even with a carbon tax and the pricing of all the other pollutants, and with regulations and standards, there will remain some tough challenges to tackle emissions from transport. Of
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we need an electricity system capable of harnessing active demand and generating decentralised low-carbon electricity. Public finances would be transformed. There would be a carbon tax, and pollution charges would make up quite a lot of government revenues. They might be enough to reduce taxes on labour, like income tax and
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have piled up. This is where the easy fantasy of a green new deal drops away, and especially the assumption that if we have a carbon tax, the money can just be recycled back to us to spend. While it is true that it is better to tax ‘bads’ like pollution
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air forces do in wars to their enemies. We ought to pay for it. One way to do this is to put some of the carbon tax revenues into an environmental fund, and use this fund to make the investment in the infrastructures, pay down some of the costs of electrification
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and Prosperous Land, I called this a Nature Fund. Expanded to incorporate climate change, the scope of the Fund could be correspondingly broader. With a carbon tax, the economics will be transformed anyway, as the relative price of carbon-intensive stuff will go up a lot, including carbon-intensive energy. We have
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227 electric pollution and 216–18 ethics of 107–10 floor price 115, 117, 208 for imports 11, 13 prices or quantities/EU ETS versus carbon taxes 110–13 setting 113–15 transport and 192–9 what to do with the money 121–4 where to levy the tax 119–20 who
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–200 internal combustion engine 181–2 net gain and offsets (reducing travel versus buying out your pollution) 201–3 oil 183–4 polluter pays/carbon tax 192–6 shipping 203–5 urban regulation and planning 198–9 vehicle standards 196–8 see also individual type of transport Treasury, UK 120–2
Power Hungry: The Myths of "Green" Energy and the Real Fuels of the Future
by Robert Bryce · 26 Apr 2011 · 520pp · 129,887 words
14 - The United States Lags in Energy Efficiency CHAPTER 15 - The United States Can Cut CO Emissions by 80 Percent by 2050, and ... CHAPTER 16 - Taxing Carbon Dioxide Will Work CHAPTER 17 - Oil Is Dirty CHAPTER 18 - Cellulosic Ethanol Can Scale Up and Cut U.S. Oil Imports CHAPTER 19 - Electric Cars
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.”60 The myth that the United States can (or will) substantially cut its carbon dioxide emissions is closely related to the belief that placing a tax on carbon will ignite a revolution in alternative-energy technologies. And that belief leads to the next myth-busting opportunity: Any scheme to
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tax carbon is doomed to failure. The better strategy: taxing neurotoxins. CHAPTER 16 Taxing Carbon Dioxide Will Work FORGET IT. No matter how many times world leaders meet in places such as Rio, Kyoto
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, Copenhagen, Mexico City, or Tulsa, the countries of the world will never agree on a global scheme to tax carbon dioxide. The disparity between the wealthy countries and the developing countries—particularly when it comes to the availability of electricity—is simply too great to
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developing countries, such as China, India, and Indonesia, will agree to policies that will effectively restrain their economic growth. Policymakers should forget about attempting to tax carbon dioxide or limit emissions of that gas. Instead, they should aggressively pursue taxes or caps on the emissions of neurotoxins, particularly those that come from
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nuclear power and See also Global climate change; Kyoto Protocol; Zero-emissions Carbon footprint Carbon intensity, reductions in, comparing (fig.) “Carbon neutral” claims, issue with Carbon tax, myth involving Cardinal Mine(fig.) Carter, Jimmy Causation, issue of Cellulosic ethanol Center on Global Change Central African Republic CEPOS (Danish Center for Political Studies
The Centrist Manifesto
by Charles Wheelan · 18 Apr 2013 · 104pp · 30,990 words
that are consistent with what is good for society overall. As a result, economists across the political spectrum have embraced pollution taxes, such as a carbon tax, as a better way to raise government revenue than taxing productive activities like work, savings, and investment. Gary Becker—a Nobel Prize winner from the
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University of Chicago, a disciple of Milton Friedman, and one of the most articulate contemporary proponents of free markets—is on record as favoring a carbon tax. So is former Federal Reserve chairman Alan Greenspan (who was a close friend of Ayn Rand while she was alive). Another persistent and persuasive advocate
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for some kind of carbon tax is Harvard economist Gregory Mankiw, who is the author of one of the most popular economics textbooks in America. More important in this context, Mankiw
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University of Chicago polled an ideologically diverse group of prominent economists about their views on a carbon tax; 96 percent of the economists polled answered either “agree” or “strongly agree” that a twenty-dollar-per-ton tax on carbon emissions would be better for the U.S. economy than an income tax increase that raised
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-based manufacturer of solar panels that received large federal subsidies before going bankrupt). Think about it: If we tax income, people work less. If we tax carbon, they pollute less. You don’t have to win the Nobel Prize in economics to understand that logic (though to reiterate, those who have won
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system taxes most heavily. Given our environmental challenges, particularly climate change, the United States ought to lean more heavily on “green taxes,” such as a carbon tax. Taxing pollution raises revenues so that we can tax productive activities more lightly—like working, saving, and investing. There is ample room to improve the
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“social cost” of any activity. Coal is not a “cheap” source of energy when its environmental impacts are taken into account. Pollution taxes, particularly a tax on carbon emissions, would encourage cost-effective conservation; consumers and companies can respond in whatever ways make the most economic sense to them. Any tax on pollution
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date of the exact quote is unknown, but it was during the fall of 1991. 26 “Rick Santorum’s Ride,” Economist, January 7, 2012. 27 “Carbon Taxes II,” IGM Forum, Initiative on Global Markets, Chicago Booth, December 4, 2012, http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_8oABK2TolkGluV7
The Price Is Wrong: Why Capitalism Won't Save the Planet
by Brett Christophers · 12 Mar 2024 · 557pp · 154,324 words
-vis the former rather than the latter. That is to say, they generally did little to make conventional technologies less competitive, for example by introducing carbon taxes and therefore making those technologies more costly. Instead, they sought to make renewables more competitive. This was renewables carrots rather than fossil fuel sticks. The
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things up between expensive renewables and cheap fossil fuels, but which, to date, policymakers have been much more reluctant to countenance – which is to say, taxes on carbon. Take your hand off the lever of renewables subsidies, governments, in short, are told, and keep it off the lever of
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carbon taxes. VI The problem, of course, is that, a decade on from the first promises that their unprecedented cheapness would see renewables rapidly begin to supplant
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himself, would, he admitted, ‘argue that renewables may have lower social costs than carbon-intensive energy forms.’ But that, he insisted, ‘is an argument for taxing carbon intensive energy forms and not for subsidising renewables’. Interestingly, parts of the left have, in recent years, formulated arguments about government support for the private
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capture 26 carbon dioxide (CO2) emissions xvii, 3, 4–5, 8–9, 326–7, 341–3 Carbon Emission Reduction Facility (CERF) 116–17, 291–2 carbon tax 129 Carbon Tracker 127, 130–1 Carney, Mark xxviii–xxix Carr, Housley xxv Carroll, Bobby 376, 378 causes, of European energy crisis (2021–22) 317
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by Angus Deaton · 15 Mar 2013 · 374pp · 114,660 words
possible to use a tax to make people pay attention to a social cost that they would otherwise ignore. A classic example is a global tax on carbon, which would do much to combat global warming. But that strategy also illustrates the problem, which is that setting such a tax would require a
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; mortality from, 134–35, 134f, 140–41; prostate, 140, 141; screening tests for, 141–42; treatment of, 141 Cape Verde, foreign aid received by, 277 carbon taxes, 242 Card, David, 197 cardiovascular disease: mortality from, 31, 111, 136–37, 136f, 139–40, 141; smoking and, 131, 137; treatment of, 130, 137–40
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, 48; life expectancies in, 67–68, 70; mortality rates in, 68–70, 68f, 72; smallpox in, 84; vital registration system of, 72 Szreter, Simon, 97 taxes: carbon, 242; in democracies, 295; income, 199–200, 203, 204–5, 212; progressive, 199–200, 261 Taya, Maaouya Ould Sid’Ahmed, 301 technical assistance, 278, 321
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