Gas tax holiday not a real help
5/9/2008 12:35 AM   0 comment(s) on this story E-mail this story to a friend


Does a gasoline tax holiday sound like a good idea? Hillary Clinton and John McCain think it does. But before you jump on the tax cutting bandwagon, do a little bit of math.
There is now an 18.4-cent federal tax per gallon of gasoline. If a motorist usess two gallons of gasoline per day for the 92 days that constitute June, July and August, the total savings on the federal tax would be $33.86 - hardly a significant saving for a summer of driving and hardly a reason to sell your vote to either one of these candidates.
To make matters even more uncertain, there would be no guarantee that the actual cost of gasoline would be less than it is now. As prices have climbed all year, there is cause to believe that even with a gas tax holiday, the cost of a tank of gas could increase over current prices.
The summer gas tax holiday is a feel-good offering that sounds like it would make a difference in the pockets of American motorists but whose impact would really be negligible. The candidates for our highest office should be talking about substantive issues that will affect our nation for the future, not Band-Aid approaches that are simply trying to get them votes.

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