There is no doubt that everyone is very upset about the gas prices. I just filled up the other day and had to pay 3.83 a gallon. I have seen some that are almost $4 a gallon. This is just ridiculous. So now both John McCain and Hillary Clinton have called for a "gas tax holiday" this summer. This is in order to help commuters and those going on vacations with the ridiculous prices. This would mean that congress would suspend the 18.4 cent federal tax between Memorial Day and Labor Day. However, although it may help people out a little, it would hurt the government tremendously--it could cost about $10 billion in revenues. Obama is the only candidate that is opposing this idea. Although he vote for something similar in Illinois about eight years ago; its ineffectiveness has caused him to not make the same mistake again. The break would only save people a little bit of money, but it would hurt the government severely. I do not think that it is worth it for the government to lose so much money, when it is only going to save the people a little bit. It mostly helps the producers, not the consumers; and the last thing the gas companies need is a break. Economists are saying that the only way to solve the problem of high gases prices during the summer, is to have more supply. When it was done in Illinois, only 28% of motorists said that they thought they were paying less for gas due to the temporary tax suspension. It sounds like Obama knows what he is talking about--and they say Hillary has more experience than him? I don't think that we should be focusing on how to make small differences, especially if we are resulting in cutting taxes that help the government. Instead we should focus on more on how to have more supply or how to stop oil companies from making so much money. We are trying to lower prices, but turning to the wrong solutions. Taxes shouldn't be cut, the price of the gas needs to go down. And once again, each politician turns it around to make it sound like what they are doing is right; the American people need to be smart enough to do their research and discover that this 'gas tax holiday' is bullshit.
Tuesday, April 29, 2008
Politicians Discuss Gas Tax Holiday
There is no doubt that everyone is very upset about the gas prices. I just filled up the other day and had to pay 3.83 a gallon. I have seen some that are almost $4 a gallon. This is just ridiculous. So now both John McCain and Hillary Clinton have called for a "gas tax holiday" this summer. This is in order to help commuters and those going on vacations with the ridiculous prices. This would mean that congress would suspend the 18.4 cent federal tax between Memorial Day and Labor Day. However, although it may help people out a little, it would hurt the government tremendously--it could cost about $10 billion in revenues. Obama is the only candidate that is opposing this idea. Although he vote for something similar in Illinois about eight years ago; its ineffectiveness has caused him to not make the same mistake again. The break would only save people a little bit of money, but it would hurt the government severely. I do not think that it is worth it for the government to lose so much money, when it is only going to save the people a little bit. It mostly helps the producers, not the consumers; and the last thing the gas companies need is a break. Economists are saying that the only way to solve the problem of high gases prices during the summer, is to have more supply. When it was done in Illinois, only 28% of motorists said that they thought they were paying less for gas due to the temporary tax suspension. It sounds like Obama knows what he is talking about--and they say Hillary has more experience than him? I don't think that we should be focusing on how to make small differences, especially if we are resulting in cutting taxes that help the government. Instead we should focus on more on how to have more supply or how to stop oil companies from making so much money. We are trying to lower prices, but turning to the wrong solutions. Taxes shouldn't be cut, the price of the gas needs to go down. And once again, each politician turns it around to make it sound like what they are doing is right; the American people need to be smart enough to do their research and discover that this 'gas tax holiday' is bullshit.
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