Taxing carbon may sound like a good idea, but does it work?

[rangerrebew]

Taxing carbon may sound like a good idea, but does it work?
October 15, 2018 by Paul Griffin, The Conversation
 
Exxon Mobil is backing a proposal to tax oil, gas and coal companies for the carbon they emit and redistribute the money raised that way to all Americans. It's also giving a group urging Washington to enact a tax on carbon US$1 million to advocate for this policy.

The carbon dividends plan, named after the former U.S. officials who conceived it – James Baker and George Shultz – reflects the research of Yale economist William Nordhaus, one of the two winners of the 2018 Nobel Memorial Prize in Economic Sciences.

Based on my research regarding how stock prices and greenhouse gas emissions are connected, I find it very encouraging to see an economist become a Nobel laureate for his climate change work. Even so, I am skeptical of the Baker-Shultz proposal.

https://phys.org/news/2018-10-taxing-carbon-good-idea.html

[dfwgator]

It doesn't even sound like a good idea.

[Cyber Liberty]

"Does it work" depends on what the goal is.  If it's to redistribute wealth, it works pretty well.  For one fiscal year.