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OTHER VOICES * USA - Goofy gas-tax plan
Commentary: Suspending levy costs much, accomplishes nothing
Santa Monica,CAL,USA -MarketWatch, by Thomas Kostigen -May 1, 2008: -- Suspending the tax on gasoline for summer months when use is highest is a stupid idea at best... The gas-tax suspension would cost the federal government about $10 billion and do nothing to reduce -- perhaps even increase -- carbon emissions from transportation, which is one of the leading human causes of global warming... Higher prices at the pump may actually get people to drive less, carpool or take public transportation -- all good things for the environment... The gas-tax suspension would do exactly what the Bush Administration has done with reality: blur it, hide it or delay its consequences... The harsh reality is that we have less supply of oil, from which we produce gasoline... Simple economics shows that with less supply and steady or increased demand (drive more and there will surely be more demand) prices will increase -- no matter the tax... And with the U.S. government running close to a projected half-trillion-dollar budget deficit this year, it - we --can ill-afford to lose billions in tax revenue... If the government really wants to do summer vacationers a favor it could launch a more sophisticated plan: give federal tax credits and incentives to cities, towns and private owners of public transportation services... According to government statistics, we are going to have to increase our energy supply by about 50% by the year 2050 in order to meet demand. Let's go back to that supply-demand reminder again. Facing higher prices at the pump puts this reality into hard numbers... We need more hard policy, not more political glad-handing, to fix the problems in front of us. That's the only way we'll put them behind...
TWO MORE COMMENTS:
* Analysis: Climbing into a recession - Growth isn't everything; jobs and incomes count more
Washington,DC,USA -MarketWatch, by Rex Nutting -April 30, 2008: -- The U.S. economy is in a recession, most analysts say, even though the government reported Wednesday that the economy managed to grow, albeit very slowly, in the first quarter. How is that possible?...
* Unimpressed by Exxon's billions - Blue chip's shares pull back as results leave investors wanting more
New York,NY,USA -MarketWatch, by Steve Gelsi -May 1, 2008: -- Exxon Mobil, the world's biggest oil company, reaped nearly $11 billion in profit in the first three months of the year on the back of record-high crude prices... That bottom-line figure outdid by 17% the company's year-ago result. But, because Exxon failed not only to match its previous record but Wall Street's expectations, shares were punished...
Labels: tax policys
posted by Unknown @ 8:32 AM
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