Replace income taxes with a carbon tax
I think we should replace the corporate and income tax with a high carbon tax…
The economics of a high carbon tax is simple. If gasoline is $15 gallon people will motor a lot less and if electricity is $500 a month per household, ipeople will use a lot less. Sure there will be a lot of pain in the short run but people will find ways to survive if polluting practices are expensive. Efficient businesses and efficient practices are rewarded with a carbon tax.
We want to encourage wealth and investment in society. A carbon tax and repealing taxes on individuals and businesses will encourage investment rather than consumption. There is too little savings and too much consumption.
I think we need to stop focusing on the poor, and focus on what’s right for our country as a whole – economic growth, jobs and promotion of efficient practices. There is too much waste in society that high taxes on carbon could root out of society – even if it hurts a certain people as times change.