During the Democratic presidential primary campaign in 2008, Governor Bill Richardson said he favored a cap-and-trade approach
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During the Democratic presidential primary campaign in 2008, Governor Bill Richardson said he favored a cap-and-trade approach for carbon regulation rather than a carbon tax because the latter is “passed on to consumers”
and so is “a bad idea.” Senator Barack Obama disagreed, saying that both the carbon tax and the cap-and-trade program lead to higher costs for consumers. Which candidate was correct about the distributional impacts of the two policies?
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