Tax waste not capital

Tyler Cowen in US News and World Report:

Phase out all forms of capital income taxation, including the corporate income tax, and replace them with a carbon tax, including a gasoline tax. "Savings and investment boost economic growth, but when it comes to energy, global warming threatens as a major problem and our dependence on Middle Eastern oil damages our foreign policy."

Kitchen Linker prefers Al Gore's proposal to tax waste not work but either or a combination is critical.