Gore says tax pollution, not payrolls | Politics News | Reuters.com
Former U.S. Vice President Al Gore on Monday suggested taxing carbon dioxide emissions instead of employees’ pay in a bid to stem global warming. “Penalizing pollution instead of penalizing employment will work to reduce that pollution,” Gore said in a speech at New York University School of Law. The pollution tax would replace all payroll taxes, including those for Social Security and unemployment compensation, Gore said. He said the overall level of taxation, would remain the same. “Instead of discouraging businesses from hiring more employees it would discourage business from producing more pollution,” Gore said.
I think it is a brilliant idea. Read the speech in its entirety here.