Question

what is carbon tax ? who will pay it ?

Answer 1

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Two other types of taxes that are related to carbon taxes are emissions taxes and energy taxes. An emissionstax on GHG emissions requires individual emitters to pay a fee, charge or tax for every tonne of greenhouse gas released into the atmosphere while an energy tax is charged directly on the energy commodities.

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Answer 2

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❤️❤️what is carbon ta❤️❤️

⏭️⏭️A carbon tax is a fee imposed on the burning of carbon-based fuels (coal, oil, gas). More to the point: a carbon tax is the core policy for reducing and eventually eliminating the use of fossil fuels whose combustion is destabilizing and destroying our climate.

⏭️A carbon tax is a way — the only way, really — to have users of carbon fuels pay for the climate damage caused by releasing carbon dioxide into the atmosphere. If set high enough, it becomes a powerful monetary disincentive that motivates switches to clean energy across the economy, simply by making it more economically rewarding to move to non-carbon fuels and energy efficiency.

⏭️Carbon chemistry is potent but also simple. The amount of CO2 released in burning any fossil fuel is strictly proportional to the fuel’s carbon content. This allows the carbon tax to be levied “upstream” on the fuel itself when it is extracted from the ground or imported into the U.S., which vastly simplifies its administration.


❤️who will pay it ?❤️

⏭️The carbon tax seems to be the idea whose time has never come. Despite being a topic of serious discussion for years, attempts to pass “tax and trade” or other carbon limitation bills have stalled legislatively. A series of four reports by Columbia University, Rhodium Group, the Urban-Brookings Tax Policy Center (TPC), and Rice University’s Baker Institute for Public Policy, analyzed various carbon tax legislation scenarios to assess their economic, energy, and environmental implications. The analysis is the first to consider how a carbon tax scheme would affect government revenues, household incomes, and the environment in light of the 2017 tax reform.

⏭️The researchers studied the impacts of carbon taxes set at three different rates, roughly $14, $50, and $73 per metric ton starting in 2020 and increasing afterwards between 1 and 3 percent per year.

⏭️Some of the impacts of a carbon tax are predictable. Coal, for example, would continue to decline as a fuel of choice for electricity generation. This would cost jobs in regions already struggling. However, the use of natural gas would remain relatively steady and perhaps even increase immediately after the passage of a carbon tax plan as utilities use it as a bridge fuel for the transition to renewables.

⏭️“Set at $50 a ton, a carbon tax would allow the United States to meet its Paris commitments by boosting renewable energy while shifting from coal,” said John Larsen, Director at the Rhodium Group. “What may come as a surprise, however, is that such a tax would have a negligible impact on natural gas and oil, even increasing production in the early years of implementation.”

⏭️Even so, consumers would see higher utility rates. The study found that, by 2030, ratepayers would see “average retail electricity rates increase by 8 percent, 22 percent, and 27 percent for the $14/ton, $50/ton, and $73/ ton scenarios, with substantial variation across regions.” Over a ten-year period, such taxes would raise a substantial amount of federal revenues, ranging from $740 billion ($14/ton scenario) to $3 trillion ($73/ton scenario).
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