Let’s just say that, from his lever-pulling position inside the executive branch, Larry Summers will continue to oppose a carbon cap-and-trade system.
That said, I agree with Summers that a straightforward carbon tax is better. BUT… due to its regressive nature, it should be ameliorated with something else.
But, given that B.O. himself, drawing on the expertise of neolibs like Summers, already is festooning his stimulus package with GOP-favored, GOP-pandering tax cuts for big biz, a tax to make carbon taxes fairer ain’t gonna happen.
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