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All carbon tax is, is another source of revenue for the government. The government is like a priest forgiving your sins, or worse yet, permitting you to commit more, for a price. It may make you feel good but won't bring back coral reefs. So I doubt a carbon tax will be truly effective in reducing carbon emissions.

I regret that I agree with you on this. If the carbon tax were high enough to pretty much put a stop to carbon burning, those with the most money to lose would be those who are richest, and they would find a way to evade paying it: either bribing the government officials to make loopholes for them, or by leaving the jurisdiction of the law in some way or other.

Those with the most non-money to lose will die of thirst, lack of food, inability to move to places with more liveable climate, the resulting civil wars, etc. I fear that people will be burning carbon until most of it is gone, and by then the resulting climate change will have made things so bad that there will be world-wide civil war over water, food, space to live, and so on. I fear it will get really ugly. I am glad I am 74 and hope I will not live to see it.
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