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Philosophia
May 6th, 2008, 08:32 AM
Economists Criticize Clinton, McCain Gas-Tax Plans

May 5 (Bloomberg) -- More than 200 economists, including four Nobel prize winners, signed a letter rejecting proposals by presidential candidates Hillary Clinton and John McCain to offer a summertime gas-tax holiday.

Columbia University economist Joseph Stiglitz, former Congressional Budget Office Director Alice Rivlin and 2007 Nobel winner Roger Myerson are among those who signed the letter calling proposals to temporarily lift the tax a bad idea. Another is Richard Schmalensee of the Massachusetts Institute of Technology, who was member of President George H.W. Bush's Council of Economic Advisers.

From here (http://www.bloomberg.com/apps/news?pid=20601087&sid=aTzCmqCNyLho&refer=home).

Do you think that this is a good idea?

pawnman
May 6th, 2008, 08:34 AM
From here (http://www.bloomberg.com/apps/news?pid=20601087&sid=aTzCmqCNyLho&refer=home).

Do you think that this is a good idea?

Not really. It may help while the tax is lifted, but it will hurt alot more when it goes back in place. And the amount the federal government takes is very small compared to the price of a gallon of gasoline.

I'd like to see the whole 40.3 cents per gallon taken off, but that won't happen in the near future.

Philosophia
May 6th, 2008, 08:37 AM
Not really. It may help while the tax is lifted, but it will hurt alot more when it goes back in place. And the amount the federal government takes is very small compared to the price of a gallon of gasoline.

I'd like to see the whole 40.3 cents per gallon taken off, but that won't happen in the near future.

I agree. I see it more as a "feel good" political move rather then something beneficial.

Thunder
May 10th, 2008, 10:02 AM
If there was some way to rebate the tax to the working poor who need to drive to get to work I would support that. But a total lifting of the tax for everyone would only encourage people to use more gas and the actual savings would be negligible if seen at all. I have little doubt that many suppliers would figure out some way to soak up that windfall themselves, leaving the motorists out in the cold. I you want to help people who are truly burdened by the present cost of fuel... make safe convenient public transportation available and provide incentive for auto manufacturers to market affordable fuel-efficient cars.

I bought my Honda Insight in April of 2004, not because of the price of gas which was low at the time by comparison, but to put my money where my mouth was on the issues of environmental protection and renewable energy. To this day the price of gas has not even made it onto my RADAR because at 68 MPG I still only fill up the 10.6 gal tank once every two weeks.

As far as the price of diesel goes... the horizon on that issue is much further away. Flying food around the world and trucking it across the country just because we can is foolish and never was sustainable. I buy everything that I can local. I avoid buying food (fruit, vegetables and the such) that are not in season where I live. I buy most of the produce that my family consumes from a CSA near my home and I only buy local dairy products.