Thursday, February 14, 2013

Barbara Boxer: Hey, who's up for a $1,200 billion carbon dioxide hoax bad-weather-prevention tax?

Boxer's push is a twist on carbon tax - SFGate
"We now all recognize the overwhelming consensus of scientists on climate change," said Adele Morris, policy director of the Climate and Energy Economics Project at the center-left Brookings Institution think tank. "It's time to do the same thing with the consensus of economists on what to do about it."
The Sanders-Boxer bill would impose a $20 per ton tax on carbon or methane equivalent, rising 5.6 percent each year for 10 years, on the nation's largest fossil fuel producers. Imported fossil fuels from countries that do not impose a similar tax would also pay.

The tax would raise an estimated $1.2 trillion over a decade and reduce greenhouse gas emissions 20 percent from 2005 levels. Three-fifths of the tax would be rebated to "every legal U.S. resident," which might make it more politically feasible than if it went to the government.

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