I don't think it really matters whether you believe in mankind induced climate change or not. Even if you do, the issue of climate change is a global one and anything that Australia does is totally and utterly irrelevant. Why?
Currently Australia emits 1.4% of the worlds CO2 emissions.
Even if all of Australia's CO2 emissions ceased completely today: The increase in China's emissions (at the current and future predicted rate) would make up for ALL of Australia's emissions in 6 months from now. And there's NOTHING we can do to prevent that happening. Nothing.
So ask youself:
Why should we, a country that has a natural economic advantage of low population, low cost (fossil fuel produced) energy, suddenly burdon ourselves with a Carbon tax that will achieve absolutely nothing, other than possibly destroy what little economic advantages we have now and cause dramatic economic harm? Just to "feel green" ? You've got to be joking right?
So, regardless of whether you believe in climate change or not, it just is not in all of our best interests to shackle ourselves with a Carbon Tax or ETS until China does something meaningful about it's emissions.
If everybody has the attitude that the problem is too big and we only contribute a miniscule amount to it, then nothing will ever get done.
In many ways it is an extremely brave move by Australia to be taking the first step, for all those who are saying we will be giving up all of our advantages, well doesn't that mean we are best placed to do it?
The worse the economic situation a country is in, the more they are going to suffer when any additional taxes are introduced. In Australia we are currently enjoying the best standard of living we have ever had and are sitting better than almost any other country in a financial sense.
If any country can take "a hit" then we would be it.
Perhaps the whole process could be structured better than is planned, it would be great to see more incentives in place for alternative energy sources, but taxing the polluters does have the same effect that people are more likely to then turn to more environmental measures.
As someone has pointed out already, most people are shitting themselves as we have become such a huge drain on energy and resources. Since the Chinese revolution when goods have become ridiculously cheap, it seems "consumerism" is at its absolute worst.
I live in a modest 3 bedroom house with my wife and daughter, we shut off half as we don't use it.
Due to this, we heat half, turn off lights when not necessary and are just generally conscious.
We live in the coldest part of Australia (so should use the most energy) yet our power bill never gets over $300 a quarter.
Our house isn't particularly well insulated and was built well before people started putting effort into making them more efficient.
I have friends interstate living in Mcmansions constantly buying so called green appliances, have had their house built to a 5 star energy rating, yet their power bills are close to 3 times that of ours.
They change their cars every few years (which is extremely polluting on the environment as all that steel creates huge amounts of waste) while I drive a well maintained dunger which I will probably keep for another 10.
Basically as it has been pointed out already, if you live modestly and don't madly consume then this tax won't affect you much at all.
The biggest pity seems to be all the concessions which are being made for the average punter. Taking away the stick will unfortunately negate any need for people to be a bit more frugal which is really what this is all about.