Definitions for carbon tax
car·bon tax

WiktionaryRate this definition:0.0 / 0 votes

1. carbon taxnoun

   a tax levied on the use of fossil fuels, so as to discourage the production of the greenhouse gas carbon dioxide

WikipediaRate this definition:0.0 / 0 votes

1. Carbon tax

   A carbon tax is a tax levied on the carbon emissions required to produce goods and services. Carbon taxes are intended to make visible the "hidden" social costs of carbon emissions, which are otherwise felt only in indirect ways like more severe weather events. In this way, they are designed to reduce carbon dioxide (CO2) emissions by increasing prices of the fossil fuels that emit them when burned. This both decreases demand for goods and services that produce high emissions and incentivizes making them less carbon-intensive. In its simplest form, a carbon tax covers only CO2 emissions; however, it could also cover other greenhouse gases, such as methane or nitrous oxide, by taxing such emissions based on their CO2-equivalent global warming potential. When a hydrocarbon fuel such as coal, petroleum, or natural gas is burned, most or all of its carbon is converted to CO2. Greenhouse gas emissions cause climate change, which damages the environment and human health. This negative externality can be reduced by taxing carbon content at any point in the product cycle. Carbon taxes are thus a type of Pigovian tax.Research shows that carbon taxes effectively reduce emissions. Many economists argue that carbon taxes are the most efficient (lowest cost) way to tackle climate change. Seventy-seven countries and over 100 cities have committed to achieving net zero emissions by 2050. As of 2019, carbon taxes have been implemented or scheduled for implementation in 25 countries, while 46 countries put some form of price on carbon, either through carbon taxes or emissions trading schemes.On their own, carbon taxes are usually regressive, since lower-income households tend to spend a greater proportion of their income on emissions-heavy goods and services like transportation than higher-income households. To make them more progressive, policymakers can try to redistribute the revenue generated from carbon taxes to low-income groups by lowering income taxes or offering rebates, then as part of the politics of climate change the overall policy initiative can be referred to as a carbon fee and dividend, rather than a tax.

WikidataRate this definition:0.0 / 0 votes

1. Carbon tax

   A carbon tax is a tax levied on the carbon content of fuels. It is a form of carbon pricing. Carbon is present in every hydrocarbon fuel and is released as carbon dioxide when they are burnt. In contrast, non-combustion energy sources—wind, sunlight, hydropower, and nuclear—do not convert hydrocarbons to CO 2. CO 2 is a heat-trapping "greenhouse" gas. Scientists have pointed to the potential effects on the climate system of releasing greenhouse gases into the atmosphere. Since GHG emissions caused by the combustion of fossil fuels are closely related to the carbon content of the respective fuels, a tax on these emissions can be levied by taxing the carbon content of fossil fuels at any point in the product cycle of the fuel. Carbon taxes offer a potentially cost-effective means of reducing greenhouse gas emissions. From an economic perspective, carbon taxes are a type of Pigovian tax. They help to address the problem of emitters of greenhouse gases not facing the full costs of their actions. Carbon taxes can be a regressive tax, in that they may directly or indirectly affect low-income groups disproportionately . The regressive impact of carbon taxes could be addressed by using tax revenues to favour low-income groups. However, there are about USD $550 billion in fossil fuel subsidies annually worldwide.

How to pronounce carbon tax?

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How to say carbon tax in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of carbon tax in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of carbon tax in Pythagorean Numerology is: 8

Examples of carbon tax in a Sentence

1. Keith McCoy:

   Nobody is going to propose a tax on all Americans. The cynical side of me says we kind of know that. But it gives us a talking point, we can say,' What is ExxonMobil for ? We're for a carbon tax.'.

2. Tesla Motors CEO Elon Musk:

   Right now we have an incentive structure that is designed to slow it down( transition from fossil fuels), if countries decide to do a carbon tax or cap and trade, and it is real and not watered-down and weak, I think we can see a transition that is in the 15 to 20 years time frame as supposed to 40 to 50 years time frame.

3. Angus Taylor:

   A substantial tightening of the Safeguard Mechanism is a backdoor carbon tax consumers will ultimately have to pay for, and that's not acceptable.

4. Paul Boothe:

   Basically, it gives back to (companies), some of the carbon tax that they pay, the least-emitting firms do the best, and the top-emitting firms don't do as well... So I think that frankly, the oil and gas industry did very well in this announcement.

5. Michael Ahrens:

   His campaign will only force Democrats into embracing more extreme policies, like a carbon tax, which would kill jobs, raise energy prices and disproportionately hurt working-class Americans.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Carbon_Tax
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Carbon_Tax
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=carbon tax