Sunday, January 4, 2009
In a letter to Obama, James Hansen proposed "a carbon tax and 100% dividend:" a mechanism for putting a price on carbon without raising money for government coffers. The idea is to tax carbon at source, then redistribute the revenue equally among taxpayers, so high carbon users are penalised while low carbon users are rewarded.
Whoppee, the man is a new Robbing Hood taking from the carbon rich and giving to the carbon poor.
Or is it a new form of communism?
Does Mr Hansen know that it would require a new bureaucracy to manage the tax. Would this bureaucracy be funded from current income? I don't think so. Not all the money would go out.
What's his degree again...does Ph.D. stand for Pipehype dreams?