A Carbon Tax and Its Effects on the Economy

Here’s an article that suggests that a carbon tax could raise trillions of dollars in revenues, but would harm the economy.  According to the report from the CBO (Congressional Budget Office) “Without accounting for how the revenues from a carbon tax would be used, such a tax would have a negative effect on the economy.”

Obviously.  What’s the matter with a revenue neutral tax that provides incentive for everyone to reduce carbon, while fostering innovation on energy efficiency and renewables?  This really isn’t rocket science.  It just takes a will to do the right thing, which is glaringly absent.