Friday, March 22, 2013

Surprise" Al Gore thinks it's time for a carbon tax...

There you have it. The Goracle has spoken...

“Time has come” for a carbon tax — Al Gore
Last weekend, the Financial Times published a must-read editorial on the need for a national carbon tax:
“Taxes are always a regrettable necessity, but some are less regrettable than others. A tax that strengthens energy security and cuts pollution, while minimising the damage done to employment and investment, is one of the least regrettable of all.”
“Yet a carbon tax, which has all those characteristics, is struggling to find support from the US administration or in Congress. It deserves much wider enthusiasm.”
“One of the few uncontroversial conclusions of economics is that it is better to tax “bads” than “goods”. Wages and profits are desirable objectives, and governments have no good excuse for obstructing them. They are taxed largely for reasons of convenience, at the cost of disincentives to wage-earning and profitmaking that are a drag on the economy.”
“Energy consumption, on the other hand, is not an objective for anyone. Indeed, the negative externalities of energy use, including local pollution and greenhouse gas emissions, mean that, other things being equal, an economy that burns less fuel is better off.”