California’s Senate: Carbon tax & Dividend

The California Senate has called for a tax on fossil fuels, and for the receipts to be paid out as a dividend. This is what our sister movement, Our Children’s Trust, is calling for. 

As a tax at the point of consumption, it would be highly progressive. In an ideal situation, the tax would be saved in a Permanent Fund for future generations. With this design, the benefit is that the masses will want higher dividends, hence higher carbon taxes. This will certainly compress consumption, and take us towards sustainability.

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