Question: During the Democratic presidential primary campaign in 2008 Governor Bill
During the Democratic presidential primary campaign in 2008, Governor Bill Richardson said he favored a cap- and- trade approach for car-bon regulation rather than a carbon tax because the latter is “ passed on to consumers” and so is “ a bad idea.” Then 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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