Tuesday, April 29, 2008

There are Gasoline Taxes (i.e. Gasoline and Diesel Taxes), and There Are… There Are Gasoline Taxes

What does this remind you of? Hmm?

To quote:

Mrs. Clinton said the tax on the oil companies, which have been reporting record profits as oil prices soar, would cover all of the lost revenue from the federal tax on gasoline and diesel fuel. She also said no highway projects would suffer.

Mr. Obama derided the McCain-Clinton idea of a federal tax holiday as a “short-term, quick-fix” proposal that would do more harm than good, and said the money, which is earmarked for the federal highway trust fund, is badly needed to maintain the nation’s roads and bridges.

2 comments:

Janne Morén said...

With demand being remarkably inelastic, a direct fuel tax along the lines of most other developed countries would make an enormous amount of sense. Not going to happen, unfortunately.

Jun Okumura said...

Definitely not. Absolutely not now.