Suppose, however, that the atmospheric CO2 build-up really is going to cause us big problems. Carbon taxes that come with matching cuts in other taxes could (at least in theory) reduce fossil fuels consumption in a revenue neutral way. If proposals from the Left for cutting CO2 emissions came with tax changes that were revenue neutral I think the ideological divisions over global warming would lessen.
Another idea: taxes on carbon dioxide emissions could be used as tax credits to lower the prices of cleaner replacements. For example, taxes on coal burning for electric power could provide tax credits for promising new nuclear power plant designs. Governments would not be enriched by carbon taxes.
If only. Sorry, Randall - enrichment is non-negotiable 'cause the money's already spent.
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