Those concerned about global warming have recently been pushing the idea of a new tax on carbon emissions. But according to a recent study by the Heritage Foundation, such a carbon tax would cause serious economic harm without even making a dent in global emissions. Citing government data, the study points out a carbon tax would raise family energy prices by more than $500 per year, jack up gasoline prices 50 cents per gallon, reduce family income by nearly $2,000, and cost 1 million jobs by 2016 alone. Since developing nations like China and India will continue increasing their CO2 no matter what the U.S. does, a carbon tax is a bad solution to a still-unproven problem.
February 15, 2013 by CFACT,
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