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Archive for May, 2010

Tax Swap

Thomas Friedman’s tax swap proposal is right on the money and right on the public good.  We should reduce taxes on jobs, personal income and corporate profits, and should impose taxes on carbon.  A clean swap.

Tax policy is social policy – we get less of what we tax, and more of what we subsidize.  For once, both conservatives and liberals are correct about the same issue.  Our current tax scheme is exactly backwards.  We discourage personal and corporate prosperity and we encourage dumping pollution into the commons while using energy that fuels our national deficit and risks our children’s safety and climate.

Easy fix. Slash personal and corporate and personal taxation, and tax the pollution.  Net result: corporations and consumers will be unharmed,  but consumers and corporations that don’t adjust will pay more, whereas smart corporations and consumers will have the opportunity to pick up additional profits or lower prices, and fix national energy policy at the same time.

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