A group of former Republican officials (including James A. Baker, Henry Paulson, George P. Shultz, Marty Feldstein and Greg Mankiw) is proposing a carbon tax starting the tax at $40 per ton, that would gradually increase.
The proceeds of the tax would be distributed to every American.
The average family of four would receive $2,000 annually in dividends. As the tax rises, so would their dividends. Since everyone would receive the same amount of revenue from the tax regardless of their income level, the dividend would make a bigger difference for poorer families than for wealthier ones.
It’s a win-win: Less carbon in the atmosphere, and more equal distribution of income.
That it’s being proposed by Republicans doesn’t make the idea any less worthy.
I’m aware that some on the left would rather use revenues from such a tax to invest in clean energy and other social causes rather than return the revenues directly to the public. That detail can be worked out.
The idea is getting a hearing in the White House. And in these dreadful times, that’s good news indeed.
About the Author
ROBERT B. REICH, Chancellor’s Professor of Public Policy at the University of California at Berkeley, was Secretary of Labor in the Clinton administration. Time Magazine named him one of the ten most effective cabinet secretaries of the last century. He has written thirteen books, including the best sellers “Aftershock" and “The Work of Nations." His latest, "Beyond Outrage," is now out in paperback. He is also a founding editor of the American Prospect magazine and chairman of Common Cause.
Books by Robert Reich
Saving Capitalism: For the Many, Not the Few -- by Robert B. Reich
America was once celebrated for and defined by its large and prosperous middle class. Now, this middle class is shrinking, a new oligarchy is rising, and the country faces its greatest wealth disparity in eighty years. Why is the economic system that made America strong suddenly failing us, and how can it be fixed?
Click here for more info or to order this book on Amazon.
Beyond Outrage: What has gone wrong with our economy and our democracy, and how to fix it -- by Robert B. Reich
In this timely book, Robert B. Reich argues that nothing good happens in Washington unless citizens are energized and organized to make sure Washington acts in the public good. The first step is to see the big picture. Beyond Outrage connects the dots, showing why the increasing share of income and wealth going to the top has hobbled jobs and growth for everyone else, undermining our democracy; caused Americans to become increasingly cynical about public life; and turned many Americans against one another. He also explains why the proposals of the “regressive right” are dead wrong and provides a clear roadmap of what must be done instead. Here’s a plan for action for everyone who cares about the future of America.
Click here for more info or to order this book on Amazon.
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