More Political Cronyism for Favored ‘Clean Energy’ Sectors, Reduced U.S. Competitiveness in Global Energy Markets May Result from Inefficient Tax Scheme
IER STUDY: Carbon Tax Scheme Plagued By Theoretical, Practical Problems
WASHINGTON D.C. – The Institute for Energy Research released today a new study exposing the fallacies of so-called revenue-neutral carbon tax swaps, an idea that has gained some support among even conservative pundits and politicians despite numerous theoretical and practical problems with the scheme. IER Senior Economist Robert P. Murphy reveals in the study, entitled “Carbon ‘Tax Swap’ Deals: A Review and Critique,” that pro-carbon tax discussions currently underway inside Washington may offer a ‘cure worse than the disease,’ robbing global economies of growth potential and disproportionately affecting the world’s poor.
