STUDY: US Carbon Tax Would Devastate Economy And Not Change Temp

flushing-moneyNewly proposed carbon taxes would devastate the U.S. economy while doing nothing to reduce projected global warming, according to a new study published by scientists at the libertarian Cato Institute.

Researchers found that carbon taxes cause considerably more economic damage than generic taxes do and disproportionately target the poor, so even a revenue-neutral carbon tax would probably reduce economic growth while doing little to fix global warming.

“There are all sorts of things wrong with a carbon tax, but primarily, it does little to nothing to limit carbon dioxide [CO2] emissions to the extent necessary to have any appreciably [sic] impact on the future course of the earth’s climate, and it produces a net drag on the economy, ” Chip Knappenberger, a climate scientist at Cato who was involved in the study, told The Daily Caller News Foundation.

Only four nations  — Ireland, Sweden, Chile, and Finland — actually have carbon taxation today. The largest economy to ever have a carbon tax, Australia, repealed it in 2014 over concerns it was harming the economy. No country taxes CO2 emissions at the levels deemed necessary to substantially mitigate global warming as defined by the Intergovernmental Panel on Climate Change (IPCC). The study found that even the most well regarded carbon taxes haven’t done much to actually reduce CO2 emissions.

“When we look at conditions in the real world—including our existing tax structure—the imposition of a carbon tax will lead to higher costs and no climate gains,” Knappenberger continued. “A revenue-neutral carbon tax which replaces the myriad of federal regulations seeking to limit greenhouse gas emissions is sometimes pitched as a climate change mitigation policy that ‘conservatives’ can get behind. We show that it isn’t—either in theory or in practice.”

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  • Avatar

    Amber

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    A two year election campaign and Hillary ‘s plan to introduce a $Trillion dollar carbon tax never even gets mentioned ? Instead we get hours of Bimbo talk and detailed accounts of the sex poodles .
    Doesn’t the main street media have a job to do ?
    A $$ 20 Trillion dollar debt that has doubled since 2008 and we get 11 year old secretly recorded jock talk planted and timed by MSM ?
    If the public was asked what the top 5 policy issues were of the two sociopaths running for office guaranteed not even 10 % would have a clue . Yet 24 Hr “coverage ” is spewing . What would CNN do if it didn’t have Trump bashing on 24/7 ? What would Fox do if Hillary and the Bill Soap opera wasn’t available ?
    Is the intent to not have people vote or keep them so dumb they have no clue what the policy platform issues are ?

  • Avatar

    JayPee

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    ALL TAXES…..NO EXCEPTION

    Are parasitic and destructive to the any market system
    for they restrict and constrict the flow and rate of exchange.

    A carbon tax is a tax on everything,
    Equivalent to an unrestricted national sales tax.
    It is only being called a ” Carbon Tax ” to gain favor with the gullible global warming crowd and the class warfare idiots.
    And the Hillary supporters.
    But I repeat myself.

    Btw, I hear Mikey Moore has a new fake-umentary.
    It’ll probably not be worth paying to see, however great the unintentional comedy.

    • Avatar

      JayPee

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      Btw
      Remember fat slob Mikey Moore
      Walking around smugly at Caen
      thinking he was going to influence the 2004 election ?

      Well, he didn’t .

      But you can’t tell an ignorant fat slob that he’s irrelevant.

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