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The news title is such wrong. They meant billioniares who have share in greenhouse gas emitting companies have million times more than average shareholder. It's
by YetAnotherNick 2y ago
The news title is such wrong. They meant billioniares who have share in greenhouse gas emitting companies have million times more than average shareholder. It's not related to emitting greenhouse gas.
The problem with carbon tax is the opposite. It would disproportionately tax poor higher. The carbon usage doesn't go up by 100x if the income increases by 100x.
- kelseyfrog 2y agoExcept not all carbon taxes are equal. Taxing investments[1] in carbon emitting investments is such a proposal. 1. https://www.youtube.com/watch?v=CgA0UgSEDjI https://www.youtube.com/watch?v=CgA0UgSEDjI (2m22s)
- specialist 2y agoWhat's the alternative(s)? IIRC carbon tax would be at point of use? So biggest "hard to transition" polluters like metal, concrete, electricity would pay most? IIRC 2, most carbon tax advocates are also huge into investing in public transit, EVs, weatherization, heat pumps. In fact, BIL and IRA stipulate 40% apportionment. So doesn't that mitigate the regressiveness of a carbon tax?
- YetAnotherNick 2y ago> So biggest "hard to transition" polluters like metal, concrete, electricity would pay most? No, the people using metal, concrete, electricity would pay it. It's not like the profitability of industry goes down over tax.