Wednesday, May 07, 2008

On the Gas Tax Holiday

Sometimes headlines capture the mood better than anyting else (noticed this on reddit yesterday).

A Gas Tax Holiday is "the economic equivalent of solving the obesity problem by making Twinkies, ho-hos, and deep-fried Mars bars tax deductible"

From the article:
If American fiscal policy resembles an eating disorder, US energy policy is closer to a drug addiction. Rather than face the very serious problems posed by an American economic dependency on foreign oil, proponents of the Gas Tax Holiday are instead proposing that the United States' government cut $0.184 cents off of the price of gasoline by pulling $70,000,000 daily out of the revenue stream that pays for bridges, surface repairs, and other vital maintenance on thousands of American roadways.

A more technical explanation here.

1 comment:

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