Arthur Laffer on Energy Independence

Posted on Thursday, December 18, 2008 at 1:17 am

laffer.jpgArthur B. Laffer on WSJ: The only real solution is Al Gore’s proposal to offset a carbon tax dollar-for-dollar with either an income or payroll tax reduction. If a carbon tax increase were offset dollar-for-dollar with an income tax rate cut, I for one would strongly support the policy. The economy would benefit because the progressive income tax does far more damage than a carbon tax would, and we’d use less oil. It’s a win-win situation. Yet this perspective appears to be totally outside the Obama team’s ken. Read the whole thing here.