Most voters want the government to limit carbon emissions, but at a time when half of all Americans own less than $500 in savings, climate ranks low on their priority list. Through our proposal, the Baker-Schultz Carbon Dividends Plan, the United States can address economic insecurity and climate risk at the same time. In essence, the plan divvies out cash to Americans in support of a low-carbon future. And it has the backing of Big Oil. WIRED OPINION ABOUT George P. Shultz served as Secretary of Labor, Treasury, and State, and Director of the Office of Management and Budget. He is a Distinguished Fellow at Stanford University’s Hoover Institution. Ted Halstead is Chairman and CEO of the Climate Leadership Council. The guiding principle is that all revenue from a national carbon tax should be rebated directly to the American people in the form of equal cash “dividends,” distributed on a quarterly basis. If passed, the plan would enable the United States to not only meet, but exceed its commitment under the Paris climate agreement. Everyone agrees that we need to broaden economic opportunity, but the usual bromides—new entitlement programs, universal basic income—run into two profound obstacles. First, the income is invariably viewed as a giveaway. … Read full this story
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