“The authors of the op-ed headlined “It’s time to put a price on carbon” (Monitor Opinion, Nov. 13) want to put a tax on fossil fuels. They hope that making these fuels more expensive might make people buy less, which in turn might reduce carbon dioxide emissions. Fewer emissions theoretically could lessen the impact of climate change.
Most carbon tax proposals try to soften the idea of a new tax by returning the proceeds to taxpayers in the form of a cash payout or by eliminating or reducing an existing tax. These carbon tax proposals often use $40 per ton of carbon emissions as their starting point (and then go up each year). At that level, a carbon tax would directly add 16 percent to the cost of carbon-based fuels, and indirectly add as much as 20 percent to the cost of everything produced by someone who uses these fuels.”
Read more at the Concord Monitor.