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That is, unless it turns to a more intelligent policy: a gradually rising tax on carbon, with revenue rebated to the poor.

“A carbon tax, levied at the source and rebated to lower-income people, has long been supported by most economists including me,” Masters told me.

But legislative leaders don’t believe the upper-middle class and wealthy — the top 10% of earners — who supplied 81% of the income taxes to be “rebated” deserve to get any of their money back.

But that would exclude the top 10% of earners who supply 81% of the general fund money to be rebated, according to the latest state figures.

The truth is that a portion of this excess should be rebated to the taxpayers and, as argued above, the system changed to prevent this largesse from occurring again.