I'm Holding My Breath........, Senator McCain proposes a federal gas tax "holiday" Options

[DXSMac]

I'm not trying to criticize any particular candidate for President, nor am I revealing my political views. I'm only saying...... "yeah, right, do you really think the feds will actually let us have this?" I'm betting that if they do, ultimately, give us a "gas tax holiday," it will be too little too late, as in, by the time they get around to implementing it, summer will be over!

JJ

McCain Proposes Break in Gas Taxes
By LIZ SIDOTI,AP
Posted: 2008-04-15 12:46:25
PITTSBURGH (April 15) - John McCain wants the federal government to free people from paying gasoline taxes this summer and ensure that college students can secure loans this fall, a pair of proposals aimed at stemming pain from the country's troubled economy.

[snip out a few paragraphs of polical bashing that has nothing to do with the subject]

It's part of an ongoing effort to counter the notion - fueled by his own previous comments - that he's not as strong on the economy as he is on other issues. He's also seeking to fend off criticism from Democrats, including Obama and Clinton, that his small-government, free-market stances don't mesh with people feeling the pinch - particularly those hurting now.

His speech comes a day after he said he believes the country has already entered a recession, a label the Bush administration has resisted even as a credit crisis, a housing slump, soaring energy costs and rising layoffs combined to soften the economy.

It also comes the same morning as the Labor Department reported another worrisome sign for the economy: Inflation at the wholesale level soared in March at nearly triple the rate that had been expected as the costs of energy and food both climbed rapidly.

To help people weather the downturn immediately, McCain was calling for Congress to institute a "gas-tax holiday" by suspending the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. He also renewed his call for the United States to stop adding to the Strategic Petroleum Reserve and thus lessen to some extent the worldwide demand for oil.

Combined, he said, the two proposals would reduce gas prices, which would have a trickle-down effect and "help to spread relief across the American economy."

[snip out other parts having to do with student loans, etc....]

Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
2008-04-15 09:30:43

[gwbischoff]

Let them eat cake...

[FosterImposters]

I'm liking the concept of a back-yard moonshine 'still' to augment gasoline. Who needs a compost pit?! Kitchen waste, yard clippings... into the still!

[Lindsay Richards]

If memory seerves, federal tax is only 19 cents or so. The states and counties really sock it to us on the gas. Many of them are a percentage rather than a per gallon tax, so when the basic price of gasoline goes up the taxes go up on the same number of gallons. Not to my liking.

[Murfdogg87]

I did some math on this issue and came up with this answer: A savings of $10.00 each month.
This is based on 1000 miles driven, 17 cents of tax, and $4.00 per gallon cost of gasoline. To my thinking that is not going to do much for the individual but will be a detriment to our highway system. And there is bound to be a large cost associated with implementation.

[DXSMac]

And there is bound to be a large cost associated with implementation.

And that, folks, is what is known as the "UNFUNDED MANDATE." Which Congress loves to do!

JJ

[RL36]

I guess its Damed if you do and Damed if you dont! Pay for it know or pay for it later. Eather way the oil companys will raise prices to make up for what ever losses they may recieve. The oil companys have us by the &@!!'$.