A current fad in Washington is the “carbon tax” – the proposal to tax emissions of CO2 and other substances that are alleged to contribute to “climate change” (formally known as “global warming” until the globe stopped its warming trend about 15 years ago).
The George C. Marshall Institute has just released my papar, A Skeptical Look at the Carbon Tax. The conclusion is:
[T]he carbon tax is a bad idea that should be rejected. Rather than a simple path to a benign energy future, the carbon tax is the proverbial Garden Path, or the road to Hell that is paved with good intentions. In the course of its inevitable failure, it would cause serious economic damage to the United States at a time when the nation’s economy is already under stress.
The conclusion is explained in a section called “The Five Circles of Carbon Tax Hell,” which analyzes a multitude of problems.
I was on a panel this morning with David Kreutzer of the Heritage Foundation, who has done several good pieces on the carbon tax. His latest is an analysis of the likely impact of the Boxer-Sanders legislation recently proposed in Congress.
In my view, the enterprise is just another effort by the political class in Washington to fleece the rest of the nation.
Image from http://seeker401.wordpress.com/2012/07/03/worlds-biggest-carbon-tax-starts-in-australia/