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- Mar 16, 2010
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Revenue Neutral Carbon Tax Creates Jobs, Cuts Emissions, Grows Economy
http://cleantechnica.com/2014/06/16...ax-cuts-emissions-creates-jobs-grows-economy/
In charts: how a revenue neutral carbon tax cuts emissions, creates jobs, grows the economy
Posted on 13 June 2014 by dana1981
Personnally, I'd give 50% back to the tax payers and 50% for fusion research. We're going to have to develop a reliable replacement for fossil fuels. This and a full campaign to install solar around the world.
http://cleantechnica.com/2014/06/16...ax-cuts-emissions-creates-jobs-grows-economy/
In charts: how a revenue neutral carbon tax cuts emissions, creates jobs, grows the economy
Posted on 13 June 2014 by dana1981
A revenue-neutral carbon tax or fee is a proposed policy to address global warming that's become increasingly popular, particularly in the US. It's a simple concept – put a much needed price on carbon pollution, but return all the revenue that's generated to taxpayers (for example with a monthly refund) to offset rising energy costs. This approach appeals to political conservatives, because it's a free market solution that doesn't increase the size of government.
British Columbia (BC) launched a revenue-neutral carbon fee in 2008, with the tax offset through a matching reduction income taxes. So far it's been very successful, decreasing carbon pollution while the BC economy performed just as well as the rest of Canada's. The carbon tax has 64% support among BC voters.
The main source of opposition to carbon pricing is the perception that it will 'kill jobs' or otherwise hurt the economy. However, economic forecasts have rarely been done for a carbon fee in which 100% the revenue is returned to the taxpayers. Under proposed revenue-neutral carbon tax legislation, about two-thirds of taxpayers are projected to receive more in refunds than they pay in higher energy prices. It's a net financial gain for most people. This is a key factor that differentiates a revenue-neutral carbon tax system and its economic impacts from other carbon pricing systems.
A new study from Regional Economic Models, Inc. (REMI) models this type of policy. REMI has been developing regional forecasting and policy analysis models since 1980. In their study (full report here, summary here), REMI modeled the regional and national economic impacts of a revenue-neutral carbon tax starting at a modest $10 per metric ton of carbon dioxide in 2016, growing steadily by $10 per year each year. They broke the US into nine distinct geographic regions.
Personnally, I'd give 50% back to the tax payers and 50% for fusion research. We're going to have to develop a reliable replacement for fossil fuels. This and a full campaign to install solar around the world.
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