Can someone explain how carbon taxes offset the negative environmental impact fossil fuels have on our environment?
In: 6
The theory of the Carbon tax is to punish companies for having high CO2 emissions and encourage them to adopt greener technologies to offset the cost.
The taxes in turn are used by the government to fund green technology initiatives
At least in theory… in practice it depends on how the government manages the program.
Many argue that carbon taxes just increase costs to consumers without much benefit and that the government would be better off giving incentives instead of punishment.
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