Comments on: Economists Knock Proposed Gas Tax Break

Washington Post: Experts Say Plan Supported By McCain, Clinton Would Bring Little Savings, Cause Other Problems

[taotxzen]

(cont)

McCain''s tax cuts would be double the size of President Bush''s:

_First, he wants to extend Bush''s tax cuts, which cost an estimated $228 billion annually and are set to expire after next year, according to congressional analysts.

_On top of that, he seeks new tax cuts of about $225 billion a year, according to his own estimate. He would slash the corporate tax rate, eliminate the alternative minimum tax and double the tax exemption for dependent children.

_And the cost of his tax breaks could rise even higher. McCain has proposed two business tax breaks, a credit for research and first-year expensing of equipment; his campaign says they essentially would cost nothing, but the Treasury Department has estimated they could cost more than $140 billion annually.

Those are just the tax cuts. McCain also proposed a new mortgage refinancing program for struggling homeowners that could cost the government $3 billion to $10 billion. He proposed to suspend federal gas taxes for the summer months at a cost of $8 billion to $10 billion.

[thee0racle]

OK,,,"The tax suspension would, as a result, cut into the highway trust fund that the tax supports, a loss of about $9 billion over the summer, but also result in fatter profit margins for oil companies."... Since the gov''t already badly manages the highway trust fund, and can''t do anything about oilco profits, let the American people save some money. He11, the alternative is what... more of the same?

[ranger1948]

Why are we paying high gas prices when it is 40 cents a gallon in Kuwait and 12 cents a gallon in Saudi ?

[ranger1948]

I wrote my senators this morning and topld them Americans are tired of waitig for change. Bush should be impeached and tried for war crimes. Congress should address the problems here at home. I said if i did not see action betwen now and November i would be looking for new blood to vote for. I suggest everyone write their senators, if they receive enough email then maybe they will do something. you can find their websites on line and email them direct.

[brianbwb-2009]

Nationalize the oil companies.

[sgtrds]

Hill''''s And McLames gas tax idea is like putting the smallest band-aid in the box on a 6 inch gash! No real help just a gimmick to get votes!

Posted by rebelscout at 12:55 AM : May 02, 2008

RAmen. It could not possibly be more blatant pandering. And then she has the gall (or stupidity) to show up at a photo op about high gas prices in a huge gas hog! What a maroon!

[truthyness]

OBAMA/WRIGHT''08

[rebelscout]

Hill''s And McLames gas tax idea is like putting the smallest band-aid in the box on a 6 inch gash! No real help just a gimmick to get votes!

[rowdytexan2]

Obama calls for windfall tax on oil profits as gas prices soar
6 days ago

WASHINGTON (AFP) %u2014 Democratic presidential hopeful Barack Obama called for a windfall tax on oil company profits Friday, as pump prices in the United States hit a new record high.

"For the well-off in this country, high gas prices are mostly an annoyance. But to most Americans, they''re a huge problem, bordering on a crisis," he told reporters at a gas station in Indiana, where he is campaigning.

According to the automobile association AAA, the average price of a gallon (3.78 liters) of gas reached a record 3.58 dollars Friday.

Obama proposes oil companies be taxed on windfall profits from oil sold at or above 80 dollars a barrel, and the revenue be used to help relieve the burden of rising prices on working people, according to his campaign.

[rowdytexan2]

The thing about Hillary is she will support most things that will give relief to American families.

Obama will only mouth krap, then go out and vote for Cheney''s energy freaking bill!

In an interview I read tonight in one breath he claimed he wasn''t an ideologist and would be pragmatic about the economy. In the next breath he says he has to apply a different ideology to the economy! My God, does he think people are fools! He doublespeaks more than any candidate I''ve ever heard!

In one breath he said, the capital gains tax would help save the economy, then when it was pointed out how few people were benefiting from the capital gains tax, he said...Well, you know, it''s something, you know, that I''ll have to think about when I''m president in January!!! Hahahahahaha! He hasn''t a freaking clue!

[rowdytexan2]

The tax break would be a tremendous help to a lot of rural Americans who commute to work and independent trucking families. City people who only drive to the post office and back haven''t a frigging clue!

Economists are just pseudo intellectuals that sit around doodling numbers on a piece of paper and just like their republican trolls won''t support anything that might benefit an average American!

And don''t give out the old BS about the oil windfall tax! Obama himself intends to opt for an oil windfall tax, he''s already said it. And fully intends to do it if elected.

Hillary intends to do it also and use it for boosting the infrastructure including the road and bridge fund!

Honk away!!!!

[puritan9]

Is Hillary Clinton running as a Republican? Giving a temporary 18 cents per gallon break from $3.60 per gallon price is just the kind of Reganomics gimmicks that have been used to fool the uneducated masses.

[jonsid2]

The article failed to mention, that although Obama supported a tax holiday in Il. when he was Senator, when it came up again for renewal he voted against it because he saw it wasn''t helping. This is what he said guided his decision not to support a Federal gas tax suspension.

[chitown639]

The Clinton-McCain Proposal..HA HA HA...thats funny!!! Actually, it wouldnt be a bad ticket, Hillary has already done much of the Republicans dirty work, McCain should reward her with a V.P. spot!!!

[demslie]

Notice that every Democrat here will ****** about what someone else tries to do but never have and answer of their own. This is how Democrats expect to run the Country? O''Bama has made a thousand promises and has never stated how he would accomplish any of them. Just add "I hate Bush" at the end of any lie and The Democrats love it.

[sgtrds]

No doubt. Hillary said today that she''''s gonna start bringing up legislation for this proposal.

What a joke.

Posted by melchg at 09:05 PM : May 01, 2008

This tax vacation is almost insulting actually. It presumes the all Americans are so stupid that they can be easily distracted by tossing a shiny object in front of them. Her and McCain actually think people are so ignorant that they won''t realize that it won''t work first of all (prices won''t really go down) and that it''ll cause a lot more problems across the board. It''s such an obvious attempt at a bribe for votes that it''s embarrassing.

[sueann702]

We know what''s going on here. Hillary/McCain are trying to sucker us for votes with this gas-tax proposal.
Instead of paying $3.78 a gallon you will only pay $3.60 a gallon. Big Deal.
It will only hurt our highway and road projects and will increase demand, making fuel more expensive.

[tawpdawg11]

I have heard from a friend of mine who is a Roads Dept. engineer that the Federal Highway Trust Fund will be bankrupt by 2009. Is this true? Does the federal gas tax support this fund? Can any experts out there answer? If these are true statements then Clinton and McCain are irresponsible in suggesting suspending this tax. Does road-building mean jobs and money for YOUR state Indiana and North Carolina? Be sure to lube up before you vote for EITHER of those two.

[sueann702]

The working middle class needs the gas tax cut. The elitist, like Obama, don''''t need the tax cut. Just another case of Obama not being able to relate to the average American.


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Posted by truthyness at 08:17 PM : May 01, 2008

Now is not the time to touch the gas tax.
Higher Demand=Higher Prices.
This money also funds our roads and highways. We need long term solutions, not short term.

[sgtrds]

The working middle class needs the gas tax cut. The elitist, like Obama, don''''t need the tax cut. Just another case of Obama not being able to relate to the average American.

Posted by truthyness at 08:17 PM : May 01, 2008

Didn''t even bother to read the article, did you.