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Carbon tax is no solution for climate change, huge debts

Washington

BY ALL means, let's have a carbon tax. It's the best way to deal with global climate change.

It would require the Republicans and the Democrats to compromise, and it would provide revenues for a government that desperately needs more revenue. But let's not pretend that a carbon tax is a panacea for either climate change or too much debt.

With most Republicans - and some Democrats - hostile to any tax increase, a carbon tax remains a long shot. But the odds have improved because some respected Republican elders recently endorsed it. They included George Shultz, James Baker and Henry Paulson - who were all treasury secretary and/or secretary of state in administrations from Richard Nixon...

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