Crossing the welfare state with the carbon tax

Source: Foundation for Economic Education
by Daniel J Mitchell

"George Schultz and James Baker, two former Secretaries of State, argue for a new carbon tax in a Wall Street Journal column as part of an agenda that also makes changes to regulation and government spending. … In the plus column, there would be a tax cut and a regulatory rollback. In the minus column, there would be a new tax. So two good ideas and one bad idea, right? Sounds like a good deal in theory, even if you can't trust politicians in the real world. However, the plan that's being promoted by Schultz, Baker, Feldstein, Mankiw, etc, doesn't have two good ideas and one bad idea. They have the good regulatory reduction and the bad carbon tax, but instead of using the revenue to finance a good tax cut such as eliminating the capital gains tax or getting rid of the corporate income tax, they want to create universal handouts." (02/28/17)

https://fee.org/articles/crossing-the-welfare-state-with-the-carbon-tax/