Tom Friedman: “How is it that we are not deploying a carbon tax and using that to reduce payroll taxes that discourage hiring and shrink corporate taxes that reduce investment? Many economists — left, right and center — agree that a carbon tax, with adjustments for low-income earners, makes a world of sense. How is it that our two parties cannot agree on imaginative solutions to ease the burden of $1.2 trillion in outstanding student loans — by, say, enabling graduates to pay off student loans with pretax income, the same way we allow workers to save in 401(k)s? The Highway Trust Fund, the primary source of financing for roads and mass transit is going broke primarily because House Republicans won’t agree to an increase in the federal gasoline tax, which has not been raised since 1993!”
Is Friedman right that the Barack and Hillary are useless chickens on the carbon tax issue, or did the Obama team fly a carbon tax once or twice, only to have it shot down in the Congress? I guess that he hates Hillary, because she was tough on Israel, and supported the treaty with Iran.
Coral Davenport wrote in the NYT on 9/27/14 that Obama sent a carbon pricing cap and trade system to Congress, which was roundly defeated. Since a cap and trade system, according to Pope Francis’s encyclical, and environmentalists such as Dean Cycon, is a very weak and manipulable non tax pricing system, its failure suggests a real carbon tax had zero chance. My criticism of Obama, is that he doesn’t fight for it repeatedly. I think Hillary should call for it, so she has a mandate if elected to enact it.