Analyzed: John McCain's Gas Tax Plan
This week John McCain presented his plan for supporting and boosting the economic status of all Americans by instituting a "Gas-Tax Holiday" from Memorial Day through Labor Day. This three month gas tax relief plan, according to John McCain's Comments on April 15, 2008, will be an "immediate economic stimulus."
Opponents of John McCain's Tax plan, Americans for Transportation Mobility (ATM) stated they believe the "Gas-Tax Holiday" would "devastate our national transportation system" and not provide the economic stimulus promised to consumers. ATM stated in a newswire on April 15th, that the "holiday" would save the consumer an average of $28.
When you consider Senator McCain's plan, on the surface it seems like it is a good idea and makes sense to do this. In my opinion, it is definitely a great political move as each time n individual in America puts gas into their vehicles at a "reduced" rate, they will more than likely remember it was John McCain who pushed for the decrease.
This three-month "holiday" will definitely have an impact on the resources for our transportation system, but should the plan work, when the prices drop dramatically it may also be a time for John McCain, or another savvy politician to say we should now increase the previous tax rates (18.5 cents on regular, 24.5 cents on diesel) by two or three cents each, which would quickly add up and restore the deficit created by the proposed "holiday".
So, would I be glad to have cheaper gas over the summer months? You bet I would and so would millions of Americans around the country! I am not saying I can look into the future and see the long term implications of what this might do to the transportation system, but I do know that we also need to focus on the present and what the current state of affair is doing to the majority of Americans. These are some heavy times and sometimes we need a little bit of light at the end of the economic tunnel...and hope it is not a train!
Sources:
John McCain Economic Plan, John McCain 2008
John McCain Speech on the Economy, John McCain 2008
Americans for Transportation Mobility Statement on Sen. John McCain's 'Gas Tax Holiday', PR Newswire -US Newswire
Published by Ray Campbell
Professional Federal Government employee for over 18 years in the areas of management and Equal Employment Opportunity. View profile
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5 Comments
Post a CommentI too think that it the tax holiday is stupid. We need to get more down to earth people in our government that will help us middle class and stop letting the over paid thieves that are in office stay there. We as American people need to get a clue and stand up for ourselves and our country by getting rid of lobbyists and the Congress and replacing them all. That would be a start. As for these two candidates they are both jokes and if America is going to be that dumb to put a person that gets his campaign money from the middle east in our office, then we deserve everything we are going to get when he is in there. It's just too bad the rest of us will have to suffer as well.
The gas tax vacation is the dumbest idea I've heard today. Prices won't come down much because supply is currently constrained: we might as well just write a check to the Saudis. How about giving tax relief on something that Americans produce?
His plans to stop buying purchasing oil for the national reserve at such inflated prices is a good idea, but this three-month tax 'holiday' is irresponsible as hell. That money goes to transportation infrastructural support. Read about it here: http://www.associatedcontent.com/article/721335/senator_john_mccains_federal_gas_tax.html .
Thanks for the analysis!.................................
It will be interesting to see how it works out. Great analysis!