A recent National Journal article on Arizona Senate-hopeful Jeff Flake underlines an unusual feature in today’s political landscape:[i] There are several prominent conservatives who proudly favor a carbon tax, including professional economists such as President Bush’s advisor Greg Mankiw. Just today, it was reported that former Congressman Bob Inglis has joined forced with Makiw, Art Laffer, and Douglas Holtz-Eakin to push for taxes on carbon and gasoline. Yet there are serious dangers from a carbon tax, both in terms of economic theory as well as political reality.
