Vox's article "The 5 most important questions about carbon taxes, answered"

in carbontax •  6 years ago 

https://www.vox.com/energy-and-environment/2018/7/20/17584376/carbon-tax-congress-republicans-cost-economy

Some tidbits from the article:

-"Under the $50/ton scenario, emissions fall 39 to 46 percent below 2005 levels by 2025, putting the US well ahead of its pledged Paris goal of 26 to 28 percent by 2025." (Based on research by the Rhodium Group)

-"The most striking result of the Rhodium research is that more than 80 percent of the emission reductions achieved by a carbon tax through 2030 would come from the electricity sector. More specifically, they would come from the accelerated decline of coal. "

-"A carbon tax is, in and of itself, somewhat regressive. It hits the poor harder than the rich because the poor spend a larger percentage of their income on energy services. However, it also generates a lot of revenue — between $740 billion (in the $14/ton scenario) and $3 trillion (in the $73/ton scenario) over 10 years — which can be used to offset the regressivity."

I, myself, am still learning about carbon taxes, and haven't come to any hard conclusions about them. While this article has an obvious liberal bias, I don't have any strong opinions about it, other than that last quote I included. I really don't like the mindset of "taxing the poor, but it's okay if we use those government resources to make up for what we took away from them."

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