Thursday, August 18, 2022
HomeMiddle ColumnBloomberg News editors explain: 'How to Sell a Carbon Tax' - 'Here's...

Bloomberg News editors explain: ‘How to Sell a Carbon Tax’ – ‘Here’s how to frame it: Dedicate all the revenue, not just some, to cutting other taxes’

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That would be enough to send every U.S. resident a check for about $300 in the first year (with bigger checks to follow) or $1,200 for a family of four. It would be more than enough to cut the corporate tax rate to 28 percent from 35 percent, for instance, or take a bite out of payroll taxes, or some of both.

This would inevitably lead to an argument over which taxes to cut. At which point, admittedly, the debate could bog down all over again. But at least it would be framed by a shared assumption: that a carbon tax is good policy. It gets liberals a more effective climate policy, and Republicans a less intrusive government.

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