Liberty Just in Case

A Dialogue for the September 12th World

Archive for May 6th, 2008

Cutting Tax is a Gas Gas Gas

Posted by redsatellite on May 6, 2008

#%&*!!

Yah….that’s how I feel about this ridiculous idea to temporarily suspend the gas tax. I thought this cockamamie notion would go away. But noit hasn’t. It’s starting to gain traction- and I’m starting to get irritable. Much like the income tax rebate you’re getting, this is a meaningless game of reshuffling the deck chairs.

When you rob Peter to pay Paul, you always get an EMPTY ‘feel good’ solution.

Rising frustration with gas prices has led two presidential candidates, Senators John McCain and Hillary Rodham Clinton, to promote proposals to suspend the federal gas tax from Memorial Day to Labor Day.

If you think this is FREE money, think again. This is more like- 3 Card Monte.

“It clearly evokes a visceral response because we’re the only industry that has our prices in two-foot-high letters on the street corner,” said John Felmy, chief economist at the American Petroleum Institute. “We’ve seen other things go up in prices, like milk, but if you ask 10 people on the street what’s the price of milk they may not know. All of them will know the price of gas.”

And there in lies the rub.

Yes, gas is clearly the most visible and critical commodity to impact our lives. BUT. Taxes are in place for a reason. In this case, tax money normally appropriated for highways and bridges will be effected. (I bet if you live in Minnesota– you might leave well enough alone!)

And the income tax rebate you’re getting back this year? Where do you think those billions from the US Treasury are coming from? Thin air? Uh no….Mr. H&R Block-it all comes back to haunt us on NEXT year’s income tax returns.

I’m just sprinkling sunshine today, huh?

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