Clinton and McShame Answer America's Energy Needs With Campaign Politics
Economists slam McCain and Clinton's daft idea for a summer holiday from gasoline tax.
Yahoo News reports,
"Republican McCain and Democrat Clinton, who is battling Obama for their party's nomination, both want to suspend the 18.4-cents-per-gallon federal gas tax during the peak summer driving months to ease the pain of soaring gas prices. The tax is used to fund the Highway Trust Fund that builds and maintains roads and bridges."
It would also put those who build and maintain roads and bridges out of work during peak season.
The article continues, "Economists said that since refineries cannot increase their supply of gasoline in the space of a few summer months, lower prices will just boost demand and the benefits will flow to oil companies, not consumers.
" 'You are just going to push up the price of gas by almost the size of the tax cut,'said Eric Toder, a senior fellow at the Urban-Brookings Tax Policy Center in Washington.
"Obama criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil.
"Many economists implicitly agreed with Obama and said the McCain-Clinton gas tax plan sent the wrong signal on energy efficiency and was at odds with their pledges to combat climate change by encouraging lower U.S. carbon emissions.
"Economists also saw it is a poor way of getting money to the households that need it most and warned that it might end up in the cash tills of the oil companies.
"Obama criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil.
" 'This isn't an idea designed to get you through the summer, it's an idea designed to get them through an election.' "
Obama is correct and farsighted about the damage this would cause.
Both Clinton and McCain are playing campaign politics at the expense of the American people, the economy, and the environment. The two are selfishly pandering to the public and promoting a stupid idea.
Yahoo News reports,
"Republican McCain and Democrat Clinton, who is battling Obama for their party's nomination, both want to suspend the 18.4-cents-per-gallon federal gas tax during the peak summer driving months to ease the pain of soaring gas prices. The tax is used to fund the Highway Trust Fund that builds and maintains roads and bridges."
It would also put those who build and maintain roads and bridges out of work during peak season.
The article continues, "Economists said that since refineries cannot increase their supply of gasoline in the space of a few summer months, lower prices will just boost demand and the benefits will flow to oil companies, not consumers.
" 'You are just going to push up the price of gas by almost the size of the tax cut,'said Eric Toder, a senior fellow at the Urban-Brookings Tax Policy Center in Washington.
"Obama criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil.
"Many economists implicitly agreed with Obama and said the McCain-Clinton gas tax plan sent the wrong signal on energy efficiency and was at odds with their pledges to combat climate change by encouraging lower U.S. carbon emissions.
"Economists also saw it is a poor way of getting money to the households that need it most and warned that it might end up in the cash tills of the oil companies.
"Obama criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil.
" 'It would last for three months and it would save you on average half a tank of gas, $25 to $30. That's what Senator Clinton and Senator McCain are proposing to deal with the gas crisis," he said on Tuesday in Winston-Salem, North Carolina.
" 'This isn't an idea designed to get you through the summer, it's an idea designed to get them through an election.' "
Obama is correct and farsighted about the damage this would cause.
Both Clinton and McCain are playing campaign politics at the expense of the American people, the economy, and the environment. The two are selfishly pandering to the public and promoting a stupid idea.
Posted by Kaz at 4/30/2008 10:11 AM 
Categories: Clinton, Economy, Obama, 2008, Transportation, Energy, McCain
Categories: Clinton, Economy, Obama, 2008, Transportation, Energy, McCain
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