During the gas shortage of the 1970s, a neighbor of my husband's stockpiled cans of gas, thinking he could beat the system. Then his house burned down when they lit a match.
The most ridiculous ideas are the ones repealing the gas tax. Yes, it seems like a lovely thought for politicians to be so concerned about their constituents that they want to save them the 30 cents per gallon, BUT where is the money going to come from?? The loss in sales tax revenue will just mean higher taxes next year, since the money has to come from somewhere. I'd rather pay now than pay later. At least I have SOME control over how much gas I consume, but NO control over taxes.
Senator Clinton wants to make the oil companies pay the taxes. Why should they? Isn't this a free-market economy?? Why shouldn't they be allowed to charge as much as the market will bear?? If some of the billions of dollars that have been spent in Iraq had gone into R&D for alternative energy sources, or REAL subsidies to encourage people to buy hybrids, or REAL subsidies to make solar energy more cost-effective, then maybe the oil companies wouldn't have the endless demand that they do!
Federal fuel tax is $0.184 per gallon.
Where is the replacement funding going to come from? The US Treasury anticipates a $300-400 billion deficit this fiscal year. Fuel tax funded activities would make up a small (tiny)part of that deficit. Higher taxes next year? Federal, state, or local? The Senate is quite unlikely to support an increase in the federal fuel tax next year to make up for any loss of such derived revenue this year. In Texas we pay a state imposed $0.20 per gallon fuel tax and local governments cannot tax fuel.
The US has been dealing with energy policy since I was in college some three decades ago. Prior to the war in Iraq, there was funding available for alternative fuel research and federal dollars have funded such research. Alternative fuel does not necessarily mean cheaper fuel prices which is what most consumers mean when they say or write alternatives fuel.
"Generosity. That was my first mistake." "Experience must be our only guide; reason may mislead us." "Instagram is Twitter for people who can't read."
