The authors of the article, "The Most Sensible Tax of All" written by Yorum Bauman and Shi-Ling Hsu, speak of a tax in British Columbia that could make it more expensive to pollute. This tax is a carbon tax. The carbon tax is being used in British Colombia to lower CO2 emissions. The theory behind this tax is that paying a high price for these emissions will make it more effective to regulate the amount of pollution in the environment.
I acquiesce that a cap on CO2 emissions can be a good thing for the environment. If the government were to set a cap on CO2 emissions, then the CO2 levels would drop and lessen the effects of global warming. The government would have to set goals that are lower than the previous year. I also think that they will have to monitor those companies that emit CO2. The companies that emit CO2 would need to have permits given by the government to release the CO2. I strongly believe that the problem with these permits is the companies that have these permits could sell them to other companies. With this cap and trade, the government would not be able to monitor all the companies that have the permits, therefore cheating has and will occur.
However, politically friendly industries have gotten politicians to give them exceptions or free permits. Unlike the cap and trade system for the sulfur dioxide emissions that has worked well for the coal-burning utilities where they are few and far between, they are already being monitored by the government. According to my research, many economists feel that the cap and trade system is not the best way to reduce CO2 emissions. They believe that a carbon tax on each ton of coal, gallon of gasoline, and barrel of oil, based on how much carbon it contains, is the best way to reduce CO2 emissions.
In conclusion, I would like to say that I cannot disagree with the authors that it does not matter if you are a Republican, Democrat, conservative or a conservationist, we can make the British Colombian carbon tax into an American made one.