26 May '11, 6pm

Let’s balance the budget by charging for CO2

The Center for American Progress has released a plan that could balance the budget by 2030, lower some people’s income taxes, and cut carbon emissions 83 percent below 2005 levels by 2050. This isn’t just a Holy Grail, it’s an entire Holy Place Setting. The CAP plan proposes to eliminate the deficit mainly through taxes and fees that would primarily affect high earners and businesses -- including an oil import fee and a large and rising price on CO2 emissions. Individual income taxes would fall somewhere between the Bush tax cut rates and the rates we’d have if those cuts were rolled back -- which means that it’s pretty reasonable, and also that Republicans and Ayn Rand fans will kick out against it even if it results in a budget so balanced it could be in the Cirque du Soleil.

Full article: http://www.grist.org/list/2011-05-26-lets-balance-the-bud...

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