Not this again, fine I'll choose not fighting climate change. The deniers won (not you). The Bitcoin guys can keep their paperclip maximizer on, people get to keep their ICEs and gas heaters.
>A carbon tax for corporations banks everything on the hope that it will be profitable to move away from fossil fuels in the near future.
It's almost profitable today without even pricing in externalities.
>The cost of failure is a catastrophic global crisis. How do you financially factor that in? How much profit does an activity need to generate for it to be worth causing a global catastrophe? The cost is immeasurable, so you can't put a price on it.
Failed econ 101... It doesn't matter how high the damage is. The same way it doesn't matter how important food and water is. Food and water is still affordable. Why? Because the value provided by water/food isn't what matters, it's the cost of the next cheapest alternative. If someone sells bottled water for $5000 and someone else for $0.25 I don't have to pay the "death penalty" because I cannot afford the expensive water. It's the same thing with CO2 emissions. A single ton of CO2 could do infinite damage and therefore the price would have to be infinite, that is, if it were impossible to reverse CO2 pollution. It's expensive to extract CO2 from the air but the maximum cost is $600 per ton, that alone reduces the minimum price needed to $600 even though the modeled damage caused by CO2 pollution is infinite.
>For individuals, a significant carbon tax means rich people get to emit CO2, and poor people don't. Rich people get to sail on their yachts, and poor people starve because they have to pay more for food.
What the fucking hell? We are literally taxing the polluters in this case. We are making it expensive for rich people to pollute, we are literally shouting in their face and saying, "You must pay dearly for your pollution, rich prick". We are taking money out of their damn pockets so they have less to spend on pollution. Compare that to the alternative which involves no punishment.
>Legislative solutions don't have any of these problem. Ban yachts. Subsidize food. Ban cars.
You run into the incompetent politician problem, also, you are making the mistake that politicians even give a damn about climate change. In Germany the CDU doesn't give a crap, they will take a CO2 tax shoved down their throat by the greens and never touch it but they themselves are never going to ban yachts or cars.
I hope this planet burns down because everyone involved, including myself, deserves it.