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In lab yesterday we watched that climate change documentary with Leonardo DiCaprio. He met with a Harvard Economics Professor who made an interesting analysis on taxes. He said that if we raise taxes on carbon, it will be used less. The money made from a carbon tax would allow us to lower income taxes.

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If companies have to pay taxes for more emissions and pollutants, it is more likely that they will be swayed to be more eco-friendly to so they can save money

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Cap and trade not only seems more complicated but more exploitable as well.

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cap and trade pro: this method gives companies a reason to want to cut down their pollutant emissions.

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Con: Cap and Trade permits lose value if government give out to many

Pros: Financial incentives for polluters to reduce emissions

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#1
Pros: -Makes companies pay for emissions (completely) -
Con: -Companies with more money can pollute more
#2
Pros: -Charges for every unit of greenhouse gas emissions
Cons: -Companies can offset the tax by charging consumers

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#1:
pros:
polluters have an option on how they cut emissions
economic benefit + incentive
self sustaining
cons:
overallocation could lead to less incentive to cut emission
#4:
We would support the cap and trade because carbon tax punishes the consumer of the pollutant goods, not the polluter.

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1: cap and trade disadvantages- bigger companies can buy the allowances, the government could give too many allowances to companies that create worse pollutants but pay more money, and the work of offsets might not balance out the effects of the emissions
1: cap and trade advantages reduce emissions without much effort, and it allows approach the problem indivdually
(If we were a US senator we would probably choose the policy that would benefit ourselves and the companies who donate to us instead of what is best for the environment. The senators have been bought by the lobbying efforts of Big Oil and Gas.)

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Use cap and trade system because it's more friendly to businesses (the last thing we want is businesses leaving and polluting the same amount elsewhere). However, unlike California's system have a much broader reach so that meat and lumber companies need permits too.

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#1
Pros: given industry a certain amount of pollution they can emit. Through permits they can sell buy or trade.
Cons: They're allowed to pollute. Bigger industries can buy permits from smaller industries and pollute more.

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(cap-and-trade)
con: large firms can hoard an abundance of permits
con: hotspots of pollution for industrial plants that buy more permits

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We would support the cap-and-trade system because of the financial incentives for the polluters to reduce emissions: polluters can buy, sell, and trade their permits with other polluters, overall reducing the amount of carbon emission