Confiscation could lead to dictatorship
As global warming threatens, extreme tax rates or confiscation in a socialist style seems better than nothing, a last resort solution.
History shows a poor record for socialist governments taking full responsibility with regulations. Individual responsibility has been more productive, when organized properly, but it needs a better way to integrate a green economy.
Also, socialism could lead to dictatorship and to falsifying global warming figures to mask their failure, without any counter-power, swallowed by a web of taxation on the foes, while subsidies are reserved for the friends.