On Sun 3/15/2009 Doug Henwood wrote:
> Also, the proceeds of a carbon tax can be used for virtuous things, like
> R&D subsidies and rebates for the poor. You could do that with the auction
> proceeds for carbon permits, but that's mostly a one-off thing. The tax
> keeps giving.
I thought that under cap and trade proposals with auctioning, the auctions would be held annually to issue permits for emissions in that year, so revenue would continue as long as industry is willing to pay to pollute. Is this a misunderstanding?
-Alex