Andrew Zeiler’s letter to the editor (Feb. 26) needs some clarification. The current exorbitant inflation was caused by flooding the market with cash in a shorter period than suppliers we’re able to ramp up their output.
Carbon taxing is based on a government’s ability to calculate the cost of a carbon emission metric ton. The U.S. Interagency Working Group on Social Costs of Carbon uses $40/metric ton. Using that number translates the impact of the tax that would be passed on to consumers in the form of $0.36/gallon for gasoline and a $0.02/kilowatt hour of electricity increase.
Carbon taxes on companies and households would be based on their usage of fossil fuels. A company using hydropower only would not be taxed. Similarly, a household using solar power and driving an electric car wouldn’t either. All others would face a degree of tax. This tax would be subtracted from the tax credit given by the U.S. government so no money would exchange hands. Since we are talking minimal amounts per person in tax credit, a better use for the revenue would be to contribute more funds to the Federal Emergency Management Agency for dealing with hurricane damage, the U.S. Forest Service for fighting forest fires, and the National Flood Insurance Program to combat increased costs. With this plan, all U.S. citizens reap the benefits!
Chuck Brannen
Durango
