Saturday, May 03, 2008

Why A Summer "Gas Tax Holiday" Won't Work

There has been much ado on National and State levels about temporarily abolishing the taxes on gasoline over the summer. House Speaker Nancy Pelosi (D-Calif.) dismissed the idea. For one thing, it won't work: it'll be like throwing gasoline on a fire, and here's why:

- In the summer of 2006, Albany (NY) County lifted the tax it imposes on a gallon of gas. The few cents a gallon lower price lasted about a week, if that. Those sneaky oil companies (who, by the way, lie thru their teeth when questioned by local TV reporters about the rack price) RAISED the price so that a gallon of gas in the neighboring county, WITH TAXES, was CHEAPER than a gallon of gas in Albany County! [m0re] This would no doubt happen again, PLUS it would give the greedy gas station owners MORE MONEY when the "tax relief" expired.

- Last night on PBS two gentlemen were discussing the gas tax holiday proposed by John McCain, Hillary Clinton and others. They brought up a point that I hadn't considered: the lower price of gas would create more of a demand that would put MORE of a strain on America's oil supply, further overburdening our struggling-to-keep-up refineries.

- Another source said that by lifting the tax, construction to improve highways and bridges across the USA would come to a halt, taking down 350-thousand jobs nationwide. That raodwork is funded by the taxes on gasoline!
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