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Public support for carbon tax waning quickly
(www.nationalobserver.com)
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It's not a black hole. It's nearly completely paid back to Canadians evenly such that most Canadians get more back.
What's also neat is that every single province could do exactly what you're suggesting. All the federal government mandated was a price on carbon, each province could implement whatever system they wanted.
Like everything these days, our worst problems are at the provincial levels, and people don't seem to understand or realize that.