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Obama out of touch on gas tax
By rawhide | May 1, 2008
The RNC slams Obama in this latest video:
Look for many more of these attacks against Obama. A few months ago, I thought that Obama would be difficult, if not impossible, to beat in November. After watching some of his mistakes, I don’t think that any more. In fact, he might be weaker than Hillary. Who would have ever thought that one.
Topics: videos, Ad Channel, Barack Obama, RNC |
May 1st, 2008 at 8:58 pm
News Flash!!!
A moratorium on gas taxes is a bad idea!
Cutting a tax completely, such as this one, is a bad idea. It will cause higher than efficient consumption of gas this summer, which would only make the long-term supply (and therefor price)problem worse. Saving a few dollars now to only pay more than that amount later is foolish. Don’t be short-sighted on this issue.
And think about this, outside the supply, demand, and price of gas, the effects it will have on the national debt. Eliminating the tax will take a lot of revenue away from the gov’t (yes, I applaud this is generally a GREAT thing!). This tax money goes to infastructure, often called ‘pork’ and earmarks. Many of these projects may be a part of the small amount of legit, ‘good spending’ by the Congress. Whether you agree with the last comment or not, this revenue lost will STILL be spent by the Congress! What does that mean? A LARGER DEFICIT and a LARGER DEBT!!! NOT A GOOD IDEA!!!
Now say you want to permanetly reduce the gas tax some, we can start talking. Better yet, convincing Blue Dogs that maintaining the Bush Tax Cuts is the best idea to help families with energy and health costs would be even better! And some more tax cuts, too!
I hate to say it, but Obama has it right, atleast on the moratorium of the gas tax (I can’t think on anything else I can agree with him on).
May 1st, 2008 at 10:08 pm
Sad is correct, in most ways. I’d love to pay less at the pump, but a temporary moratorium on federal gas taxes isn’t the solution.
The biggest reason oil prices are so high isn’t even an issue of supply and demand for oil, the problem is the commodities trading market which has over inflated the price per barrel based (mostly) on irrational fear. There are contributing factors, such as taxation, oil refinery capacity, among others, but the biggest problem is fear-based speculation on Wall Street.
I blame the Federal Reserve (weird I know, but stay with me). In 2003, total investment in the commodities market was roughly $9 million. Today, total investment has ballooned to more than $245 million, which drives up the price of all commodities beyond their appropriate market price.
For reference, in August of last year, oil was only $60 a barrel. Supply and demand hasn’t changed, but commodities trading has surged and driven up the price ridiculously.
The deluge of over investment in commodities markets is a result of fears of inflation and a volatile stock market, which are due in large part to an ineffective Federal Reserve.