Friday, May 02, 2008

Full of gas

Last night, I tried to remember what about the day's news had outraged me so much. I could feel the outrage; I just couldn't recall the impetus.

NPR reminded me this morning - the gas tax.

McCain wants to cut the gas tax this summer, and save us a few bucks. HELLO, WHEN AN ITEM COSTS LESS, WE BUY MORE OF IT. Plus, we'll end up paying the same price for it, and oil companies will make even more money - the same oil companies who had the best profit in Q1 this year of any companies in the history of the world.

Here's what someone more economically minded than me says about it:

Why doesn’t cutting the gas tax this summer make sense? It’s Econ 101 tax incidence theory: if the supply of a good is more or less unresponsive to the price, the price to consumers will always rise until the quantity demanded falls to match the quantity supplied. Cut taxes, and all that happens is that the pretax price rises by the same amount. The McCain gas tax plan is a giveaway to oil companies, disguised as a gift to consumers.

Hillary says she's FOR THIS TAX-HOLIDAY. This is called pandering, pandering to those blue-collar voters with whom she supposedly identifies so much.

Kudos to Barack for making sense.


peevish said...

fucking blogger ate my first comment. Perhaps it was delicious.

Anyway, yes, I agree completely. And as long as the American voters refuse to think critically, they will get the President they deserve. Which sucks for all of us.

noni said...

On Meet the Press on Sunday, Obama told it like it is: the "tax holiday" is a gimmick." Oh, how I hope the American people wake up (like I finally did!) and vote for the only person who knows what "We the People" actually means. OBAMA 08!

peevish said...