Researchers disagree about what the economic costs of climate change will be over the coming decades. But the answer to that question is fundamental in deciding how urgent it is to take action to reduce emissions.
When climate legislation died last summer in Congress, one cause was the powerful drumbeat of claims that the bill would bring economic disaster. The legislation would amount to a massive tax hike, devastating an already crippled economy and throwing more people out of work, charged Senator James Inhofe (R-Ok) and Glenn Beck. It would be “the final nail in the coffin of the American middle class,” proclaimed an ad from the Conservative Society of America. Despite supporters’ protests that the price tag of greenhouse gas curbs would be modest, voters’ fear of hits to their pocketbooks forced even many Democrats to backpedal.
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