The national imperative should not be reducing or increasing the price of gasoline. It should be telling automaker lobbyists to take a hike until they come back with more fuel-efficient cars, demanding of Americans to drive less and a huge resurgence of mass transit, including carpools, buses and trains.
Instead, Republican presidential candidate John McCain calls for a temporary suspension of the gas tax. Arguably, too high a price of gasoline (even without the Democratic candidates’ suggested tax hike) will wreak havoc on an economy that cannot pay for it, but we are now in the unenviable position of a recession along with a drop in national drilling, production and refining activity. Lowering the price of gasoline will only make us more dependent on what has already been presented to the public as an economically unreliable commodity. Also, the “tax holiday” is just that – temporary. If such a law gets passed, the prices will more than likely go back up a small while after your buddy McCain becomes president.
If gas prices get too high, we’re screwed. If they are lowered, we’re screwed. Either way, it’s time to pay the piper. Meanwhile, we have to listen to candidates spout the Campaign Trail Kool-Aid Talking Points.
NOLA-Dishu presents a slightly different take on this issue.
Let’s not forget the 300lb gorilla…This “holiday” would go on the credit card. The lost revenue would be replaced by yet another loan from the Chinese.