« | Home | Categories | »

There’s One Unspeakable Fix That Would Help Pay for the GOP’s Tax Cuts

Posted on November 5th, 2017 at 23:02 by John Sinteur in category: News -- Write a comment

[Quote:]

Paying for tax reform is easy—as long as the White House and Congress don’t mind fixing climate change at the same time.

That’s the counterintuitive pitch of Robert Litterman, a financial economist who became famous on Wall Street in the 1990s for co-inventing a method (PDF) for allocating assets within a portfolio. He went on to become Goldman Sachs Group Inc.’s top risk manager and then led its quantitative asset management investments until he left in early 2010. Today, he’s the chairman of the Risk Committee at Kepos Capital.

[..]

A $25 per ton carbon tax would go a long way—almost $1 trillion over 10 years, according to the Congressional Budget Office—toward balancing out the cost of reforms. Congress has approved a 2018 budget resolution that allows room for enough tax reform to increase the federal deficit by $1.5 trillion over 10 years, not accounting for growth sparked by the changes.

 Yet, to call a carbon tax dead on arrival would be an insult to dead things, since they have spent at least some time being alive.

previous post: Donald Trump mocked by Hawaiians holding ‘welcome to Kenya’ signs

next post: How the Democrats Are Failing the Resistance