According to the PBO, 60 per cent of households in Alberta, Ontario, Saskatchewan and Manitoba will pay more in carbon taxes than what they receive in rebates.
Cutting emissions by 25 per cent would impose a permanent cost of about 2.0 per cent of GDP.
A tax on businesses is paid by people who own the businesses.
Climate targets are irrelevant when determining whether a carbon tax is good policy.
The Trudeau government’s plan includes a target of $170 per tonne.
Revenue-neutrality for governments will require other taxes to go up, not down.
We’re experiencing a “supply shock,” essentially a reduction in the economy’s capacity to make goods and services.