Modern economies indirectly subsidize environmentally damaging corporate practices by ignoring the environmental costs ( younger generations have to deal with the environmental damage), this can be seen in everything from the tar sands in Alberta to ewaste in electronics. In Ireland they have started a carbon tax to deal with this environmental problem while raising a lot more revenue for the country.
The results in Ireland prove promising and may encourage other countries in Europe to take the European Commission’s suggestions that a carbon tax can help other debt-ridden economies.
Household trash is weighed at the curb, and residents are billed for anything that is not being recycled.The Irish now pay purchase taxes on new cars and yearly registration fees that rise steeply in proportion to the vehicleâ€™s emissions. Environmentally and economically, the new taxes have delivered results. Long one of Europeâ€™s highest per-capita producers of greenhouse gases, with levels nearing those of the United States, Ireland has seen its emissions drop more than 15 per cent since 2008.
The three-year-old carbon tax has raised nearly 1 billion euros ($1.3 billion) overall, including 400 million euros in 2012. That provided the Irish government with 25 per cent of the 1.6 billion euros in new tax revenue it needed to narrow its budget gap this year and avert a rise in income tax rates.
Thanks to Mike!