Carbon Tax: An Idea Whose Time Should Not Come

Senate Finance Committee Chairman Max Baucus has announced his retirement, and he wants to see Congress pass major tax legislation before he leaves in 2014. Here’s one piece of advice: stay away from a carbon tax.

It’s troubling that the Senate Finance Committee staff tax reform options on infrastructure, energy, and natural resources, published last week, offer as an option a carbon tax.

What is a carbon tax? Why do so many academics love it? And why will Congress be unable to enact such a tax effectively?

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