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British Columbia has one of the lowest corporate income tax rates (10%) in the Group of 8 wealthy nations, the lowest personal income tax rate in Canada on people making less than $119,000 a year, and better growth in GDP than the rest of Canada. The secret to their success? A shift to a carbon tax four years ago. British Columbia's success seems to be catching the attention of the mainstream media, as these two items suggest:

The Most Sensible Tax of All (NYTimes)

While US Ponders Carbon Tax, In British Columbia It Appears To Be Working (Forbes)

Oh, and they are also reducing carbon emissions faster than the rest of Canada:

The change in per capita GHG emissions in British Columbia since 2008 (-9.9%) relative to the rest of Canada (-4.6%) appears to indicate that the trend in British Columbia has accelerated. (From the Forbes article)
To reduce the burden of the tax on lower income and rural populations, British Columbia provides targeted rebates.

Not only that, but the Forbes article also holds out some hope that there may be stirrings of support for a carbon tax in the ranks of Republicans:

In a July 10 interview with Grist’s David Roberts, Bob Inglis, a former Republican lawmaker bounced from the U.S. House of Representatives by a Tea Party challenger in 2010, said he supported shifting taxes from income to carbon as part of “a grand bargain to bring down rates and broaden the base.” On July 12, The Hill’s Ben Geman reported that representatives from left- and right-leaning groups had held several closed-door meetings since 2011 to discuss carbon tax proposals, with the most recent meeting convened the day before at the American Enterprise Institute. On July 13, Clean Technica published an interview with GOP elder statesman George Shultz in which he re-affirms his support for a revenue-neutral carbon tax.
A carbon tax may not be everything we need, but it would certainly be a step in the right direction.
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Comment Preferences

  •  Tip Jar (2+ / 0-)
    Recommended by:
    Lefty Coaster, PatriciaVa

    "Strength and wisdom are not opposing values" - Bill Clinton, 2004 Democratic Convention

    by AceDeuceLady on Wed Aug 01, 2012 at 06:55:48 PM PDT

  •  I like this headline despite the pun (1+ / 0-)
    Recommended by:
    Global Warming Debate Heats Up, Again

    Muller claims that a careful reanalysis of the data collected from temperature stations led him to conclude that the average global temperature "has risen by two and a half degrees over the past 250 years, including an increase of one and a half degrees over the most recent 50 years. Moreover, it appears likely that essentially all of this increase results from the human emission of greenhouse gases."

    "We don't need someone who can think. We need someone with enough digits to hold a pen." ~ Grover Norquist

    by Lefty Coaster on Wed Aug 01, 2012 at 07:02:29 PM PDT

  •  Yesterday, Atlanta, 63% to 37% defeated an attempt (0+ / 0-) increase the sales tax by 1% point.  Even the NAACP got involved (I say even b/c the Democratic mayor of Atlanta was for it), asking African-Americans to vote against it.

    Why?  Because the sales tax is deeply regressive.

    And so is a carbon tax.

    And inequality is as sharp as it's been since 1929.

    Now is not the time to exacerbate this inequality via a carbon tax.

    Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project.

    by PatriciaVa on Wed Aug 01, 2012 at 07:37:32 PM PDT

    •  They use rebates so it won't be regressive (0+ / 0-)

      I agree wholeheartedly that anything to shift more income to the rich would be a disaster, but in British Columbia they are using targeted rebates to even the effects out.

      "Strength and wisdom are not opposing values" - Bill Clinton, 2004 Democratic Convention

      by AceDeuceLady on Wed Aug 01, 2012 at 08:05:27 PM PDT

      [ Parent ]

      •  I don't know anyone up here (in BC) (0+ / 0-)

        who likes the carbon tax.

        Gas is $1.32 a litre.  Including the carbon tax. No rebates.

        No thanks.

        The sooner it's gone the better.

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