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The carbon tax

EARLY WEDNESDAY, delivering his victory speech in Chicago, President Obama elevated an issuethat had hardly come up during the campaign. “We want our children to live in an America,” he said, “that isn’t threatened by the destructive power of a warming planet.”

Later that day, Senate Majority Leader Harry M. Reid (D-Nev.) told reporters that climate change is an important issue and that he wants to “address it reasonably” — particularly following big storms in the Northeast that have highlighted rising sea levels and other dangers associated with global warming.

House Speaker John R. Boehner (R-Ohio), meanwhile, spoke about cooperating with Democrats on urgently needed budget reform.

Now if there were just some policy that would reduce carbon emissions and raise federal ­revenue . . . .

A tax on carbon, of course, is that policy, and lawmakers and the president should be discussing it. The idea…

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