Opinion: Refunded carbon tax will grow the economy and create jobs
"Approach has already proven successful in British Columbia, writes Glenn Marshall
How does one create jobs, preserve the climate and not burden the taxpayer? This is done through a refunded carbon tax where all the money collected is returned to the province it was collected in. This is a market-based approach and it will, over time as the refunded carbon tax increases, eliminate the subsidy (when we burn fossil fuels without directly paying for the damage and pollution it causes). In particular, it doesn’t use regulations, which are less effective, much more costly to administer and implement and generally disliked by business and taxpayers as “red tape."
Giving all the money back addresses all of the concerns with a regular (non-refunded) carbon tax we identified in part 1. It is not a tax grab since taxpayers are not out of pocket. It will grow the economy and create jobs — this has been demonstrated in British Columbia with their refunded carbon tax. Most important of all, it will preserve the climate we need by steadily raising the price of things that are destroying it: carbon emissions and pollution."