
The Statement can be read at the link above in five minutes. It lays out beautifully and quite succinctly the mechanisms for a climate change agenda that will work! It was signed by a group including 28 Nobel Laureate Economists, 4 Former Chairs of the Federal Reserve, and 15 Former Chairs of the Council of Economic Advisers.
Summary of the Statement’s key points:
The need for a carbon tax to urge the marketplace to incentivize us producers of carbon dioxide toward a low-carbon future and to stimulate innovation. #climatechange
Steady increases in the tax, but being revenue-neutral. Taxes collected will be distributed to the people to avoid growing the government, for fairness, and to stimulate their acceptance.
Phasing out of carbon laws and regulations, thereby eliminating many sources of dissatisfaction and poor efficiencies. The pricing approach will provide more certainty to industries for their long-term planning and investment.
A border carbon adjustment system to balance our increased costs for climate change with those of countries that have not yet instituted anti-carbon dioxide measures.
Our present “approach” is not working well, neither in terms of making sufficient progress in the fight against carbon emissions nor in getting everyone’s participation.
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