Gas Tax Holiday Continues To Be Discussed
The idea about a gas tax holiday is still being discussed. The current three front runners in the Presidential race have all taken a stance on the issue: McCain (RINO) supports it; Clinton (D) supports the idea if the tax burden is shifted to oil companies; Obama (D) says it is a gimmick. I think it’s a good idea. Any tax relief is a good idea.
Clinton’s proposal is stupid. Have the holiday, and the government will create a new tax and stick it on the oil companies. How will oil companies pay for the new tax? They will raise prices. So the break you’ll get from federal tax relief will be taken up in the wholesale price increase. I can’t believe that someone on her staff doesn’t have a clue how to run a business.
One must remember that the Dark Side loves to tax. You can’t stop taxing. The rite of taxing is part of their religion or something.
Fox News discusses some bipartisan support and opposition in this article. I have two posts on this here and here.
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Clinton has been after oil companies her whole campaign. All her plan does is hide the tax. It’s like renting to avoid property tax. Personally, I think anything that lowers taxes is worth exploring. How about opening ANWR?
I read an article somewhere, forgot where and now i can’t find it, that gas prices are looking to decline in 2009 and 2010 when new overseas refineries open up, and the American market compensates for the higher prices with lower demand, as it is starting to do now.
It didn’t say how high prices will go in the meantime, and how far it’ll drop when it does, or whether or not it’ll ever go back to a comfortable price.
If the experience of the last few years has taught us anything, the prices will rise about 50 cents to a dollar, hold steady for the summer, then drop back half of the increase for the winter.
Net increase for the year, and then we’ll get used to a higher price, thinking it dropped back to a comfortable level.
In 2004 the average price was $1.88/gallon. Ever since it’s been running the same trend lines, two steps forward, one step back. Two steps forward, one step back..
It won’t end.