Bah
Hillary Clinton is back on my shit list. Stupid Bitch
Right now we run up huge debts by importing large amounts of a strategically crucial, highly-polluting, non-renewable resource from terrorist-financing, extremist, authoritarian regimes using our rapidly depreciating currency. Lowering the price, and thus encouraging more consumption, is BAD.
If the government had some fucking balls, they would slap a $3/gallon tax on gasoline. Yes, RAISE THE GAS TAX. In the short run, this would raise a few hundred billion dollars. At the same time, they could raise the brackets on the income tax and increase the Earned Income Tax Credit.
The result?
Overall, the nation would pay the same in taxes. Some industries (shipping) would be hurt, while others would be helped. In terms of individual income, not much change if the EITC was increased. Simultaneously, demand for gasoline would fall (in the short run by an estimated 4%, in the long run by an estimated 35%). Basically, you pay more at the pump, but less in income taxes. This would
A) decrease dependence on foreign oil
B) reduce pollution (smog, global warming, etc.)
C) reduce the underlying price of gasoline (pre-tax price) as the quantity demanded fell
D) increase incentives to develop alternative (cleaner) fuel sources
E) improve the U.S. trade balance
F) reduce the rate at which oil supplies dwindle, reducing the odds that we all get fucked
We can tax gasoline now and raise revenue that can offset other taxes or pay for new programs, or we can wait 10 years until gasoline is $8/gallon (inflation adjusted) anyway because supplies have dwindled and demand has continued to increase, and where you get none of the benefits of the revenue.
This is such a fucking no-brainer policy, but no politician wants to suggest it because Joe Moron would go, "YOU WANT TO TAX OUR FUEL MORE? GET THE GUNS!" on reflex. The energy market is a terrifying thing, folks, and bullshit like McCain and Clinton's idea is about as depressing as it gets.
Not that the Obama-psychos (I'm looking in your direction Kris) need more encouragement, but he's on the right side of this issue. Oh, yeah, and George W Bush is also on the right side of this issue. Neither of them will raise the gas tax, but at least they call lowering it a crock of shit (in neutral politician-speak).
Right now we run up huge debts by importing large amounts of a strategically crucial, highly-polluting, non-renewable resource from terrorist-financing, extremist, authoritarian regimes using our rapidly depreciating currency. Lowering the price, and thus encouraging more consumption, is BAD.
If the government had some fucking balls, they would slap a $3/gallon tax on gasoline. Yes, RAISE THE GAS TAX. In the short run, this would raise a few hundred billion dollars. At the same time, they could raise the brackets on the income tax and increase the Earned Income Tax Credit.
The result?
Overall, the nation would pay the same in taxes. Some industries (shipping) would be hurt, while others would be helped. In terms of individual income, not much change if the EITC was increased. Simultaneously, demand for gasoline would fall (in the short run by an estimated 4%, in the long run by an estimated 35%). Basically, you pay more at the pump, but less in income taxes. This would
A) decrease dependence on foreign oil
B) reduce pollution (smog, global warming, etc.)
C) reduce the underlying price of gasoline (pre-tax price) as the quantity demanded fell
D) increase incentives to develop alternative (cleaner) fuel sources
E) improve the U.S. trade balance
F) reduce the rate at which oil supplies dwindle, reducing the odds that we all get fucked
We can tax gasoline now and raise revenue that can offset other taxes or pay for new programs, or we can wait 10 years until gasoline is $8/gallon (inflation adjusted) anyway because supplies have dwindled and demand has continued to increase, and where you get none of the benefits of the revenue.
This is such a fucking no-brainer policy, but no politician wants to suggest it because Joe Moron would go, "YOU WANT TO TAX OUR FUEL MORE? GET THE GUNS!" on reflex. The energy market is a terrifying thing, folks, and bullshit like McCain and Clinton's idea is about as depressing as it gets.
Not that the Obama-psychos (I'm looking in your direction Kris) need more encouragement, but he's on the right side of this issue. Oh, yeah, and George W Bush is also on the right side of this issue. Neither of them will raise the gas tax, but at least they call lowering it a crock of shit (in neutral politician-speak).