Interesting idea for carbon tax

I have to say, I really like the idea expressed in this NY Times article about climate change:

We need to start reducing emissions significantly, not create new ways to increase them. We should impose a gradually rising carbon fee, collected from fossil fuel companies, then distribute 100 percent of the collections to all Americans on a per-capita basis every month. The government would not get a penny. This market-based approach would stimulate innovation, jobs and economic growth, avoid enlarging government or having it pick winners or losers. Most Americans, except the heaviest energy users, would get more back than they paid in increased prices. Not only that, the reduction in oil use resulting from the carbon price would be nearly six times as great as the oil supply from the proposed pipeline from Canada, rendering the pipeline superfluous, according to economic models driven by a slowly rising carbon price.

I imagine there are some thrifty people out there that could actually net PROFIT from the proceeds of a carbon tax reimbursement. I love the idea that the government doesn’t get to keep the revenue. To me, this is thinking outside the box!

 

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