Question

Consider the following statement:"country should introduce a national carbon tax. This would correct negative externalities associated...

Consider the following statement:"country should introduce a national carbon tax. This would correct negative externalities associated with pollution AND bring the government a lot of revenue so that it could reduce or eliminate income taxes, which would help grow the economy by increasing the incentive for people to work."

Briefly comment on this idea.

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Answer #1

The given statement is true to a great extent because a national carbon tax would actually reduce the the external entities and allow the companies to innovate more so that the pollution levels are reduced and also it should not be done for the revenue but it should be done for the environmental welfare which is wrongly presented in the given statement but if the revenues are used for reducing income taxes, then what happens is that the net disposable income increases so that people would be motivated as income taxes are seen as a tool for reducing the motivation on people to work

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