Tuesday, February 24, 2009

FedEx's Smith Favors Carbon Tax Over Cap-And-Trade

http://money.cnn.com/news/newsfeeds/articles/djf500/200902231648DOWJONESDJONLINE000540_FORTUNE5.htm
Congress should consider imposing a "carbon tax" to curb pollution and use the proceeds to reduce U.S. payroll taxes, FedEx Corp. ( FDX) Chairman and Chief Executive Fred Smith said Monday.

A carbon tax would be a much more efficient way to reduce pollution than a cap-and-trade system that would cap the emission of air pollutants and permit trading in pollution credits by firms that stay below the cap, Smith said in response to questions after a speech to the National Press Club.