Waiting On Innovation, Ctd

Tyler Cowen didn't like the cap-and-trade bill, but he still supports a carbon tax. His logic should be familiar to anyone who follows energy debates:

Even if we cut government spending a lot, some taxes will have to go up.  This seems like the least bad tax to raise or create, since it has some chance of producing a better outcome.  It's hard to say that about most of the other potential tax boosts.