Editorial Board
Doubt Climate Change? Then Support Carbon Taxes
The evidence from other countries shows that carbon taxes are a prudent, low-cost and effective insurance policy.
Taxing greenhouse gases is a policy that deserves serious consideration -- the kind of consideration it just isn't getting in the U.S. The approach makes sense in theory and, where it has been tried, has worked in practice.
The record shows that a well-designed carbon tax can cut harmful emissions in the most economically efficient way: by letting market forces coordinate the effort. Fears that a carbon tax set high enough to make any difference would harm the economy are contradicted by the evidence; carbon taxes haven't led to higher public spending; and, with a little ingenuity, the most vulnerable can be protected.