"Bear in mind that if they collect $10 billion in tax, they will lose of the order of 41 billion in administration and compliance, so its just not possible to return it all anyway."
That's a good point, zzedzz .
The tax makes no sense which ever way you look at it:
1. Australia's emissions are so tiny compared to the US and China that even high taxes will hardly make a dent in world emissions. Sheer craziness...
2. If the funds raised are going to be used for compensation, it is technically revenue neutral. This means that the many low income people supposedly getting compensation won't reduce their supplies from the big polluters. Again, doesn't make sense...
3. And as you point out, zzedzz, there will likely be huge admin costs to pay for all the bureaucratic red tape and the fat cats who will administer it.
And, I wonder who will actually be compensated. The government will most likely want to get their hands on some of this after compensation AND admin costs. Will it be like the flood levy where only those on ridicously low incomes will be compensated? If so, that will hurt families already struggling to pay mortgages, school costs, medical expenses, etc, etc.
