An economist who is for a carbon tax???
Uh, ok.
After an 8 yr period of "tax them all", it's time for a different philosophy. Thank G-d. We aren't Europe and that's the point.
"How Would a Carbon Tax Directly Affect the Economy?
By raising the cost of using fossil fuels, a carbon tax would tend to increase the cost of producing goods and services—especially things, such as electricity or transportation, that involve relatively large amounts of CO2 emissions. Those cost increases would provide an incentive for companies to manufacture their products in ways that resulted in fewer CO2 emissions. Higher production costs would also lead to higher prices for emission-intensive goods and services, which would encourage households to use less of them and more of other goods and services.
Without accounting for how the revenues from a carbon tax would be used, such a tax would have a negative effect on the economy. The higher prices it caused would diminish the purchasing power of people’s earnings, effectively reducing their real (inflation-adjusted) wages. Lower real wages would have the net effect of reducing the amount that people worked, thus decreasing the overall supply of labor. Investment would also decline, further reducing the economy’s total output."
"The costs of a carbon tax would not be evenly distributed among U.S. households.
For example, the additional costs from higher prices would consume a greater share of income for low-income households than for higher-income households, because low-income households generally spend a larger percentage of their income on emission-intensive goods. Similarly, workers and investors in emission-intensive industries, who would see the largest decrease in demand for their products, would be likely to bear relatively large burdens as the economy adjusted to the tax. Finally, areas of the country where electricity is produced from coal—the most emission-intensive fossil fuel per unit of energy generated—would tend to experience larger increases in electricity prices than other areas would."
India. China. Next?
"A carbon tax’s effect on the economy depends on how lawmakers would use revenues generated by the tax. The tax would help reduce U.S. emissions but would have only a modest effect on the Earth’s climate without a worldwide effort."
https://www.cbo.gov/publication/44223
Good thing the carbon tax argument lost in 2010, 2012, 2014 and 16.
Remember "it's the economy, stupid"?