Tags: Deficit

Dear lawmakers: Border-adjustable tax can’t shrink trade deficit while producing trillions in revenue

Lawmakers who back a border adjustable tax make two fundamental arguments: The new levy will raise massive amounts of revenue to help pay for business rate tax cuts and it will give a powerful jolt to US based manufacturers and jobs by boosting exports and trimming imports. But there is a huge problem with these…

How should government spend carbon tax revenues?

The other day, a high-powered group of former senior Republican policy advisers and business executives proposed replacing regulations aimed at reducing greenhouse gases with a gradually increasing carbon tax starting at $40-a-ton. The tax itself is a fairly standard carbon levy that many others have endorsed. The two most interesting things about this initiative are who proposed it, and…