New study pounds carbon tax with preemptive assault

A US carbon tax has fallen subject to preemptive assault in a study released by the George C. Marshall Institute. With cap-and-trade crashing in Europe and grounded in the US, the taxation of carbon emissions represents the likeliest political response to global warming. But the idea, says study author James V. DeLong of the Convergence Law Institute, is "deeply flawed." A carbon tax is supposed to cut greenhouse-gas emissions while raising money for the government, DeLong points out. Five considerations "militate against it," he says: • A US carbon tax will have "minuscule effect, if any, on global temperatures." • Assumptions that costs of a carbon tax are ...

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