“The so-called ‘temporary gas tax holiday’ that Senators Clinton and McCain propose won’t deliver this needed relief. This will not create the economic relief they say it will, because prices will continue to rise until we address the real source of this problem. We do need to provide immediate relief for families hard-hit by spiraling gas prices, and we can do that by demanding the President stop adding to the Strategic Petroleum Reserve. This will ease the production crunch that is causing these skyrocketing gas prices.
“Senator Clinton claimed yesterday that I either stand with her on this proposal or stand with the oil companies. To that I say: I stand with the families of Colorado, who aren’t looking for bumper sticker fixes that don’t fix anything, but for meaningful change that brings real relief and a new direction for our energy policy. We can’t afford more Washington-style pandering while families keep getting squeezed.
“It is exactly the kind of short-sighted Washington game that keeps us from getting real results to our energy problem. Experts across the ideological spectrum agree that it will increase the deficit, drain money away from Colorado roads and bridges, and hurt the environment, all without actually making prices lower for drivers.”
Thought the Reserve was there to protect against sudden oil shortages. Not sure our current situation qualifies. Peak Oil anyone?
The Hillary/McCain plan is even more stupid when they say they are going to pass the tax to the oil companies. Aren’t the oil companies just going to increase their wholesale prices to recoup?
EL, you realize you just admitted that taxing corporations is foolish since all they do is pass the additional cost on to consumers, correct?
Good try J, but sadly, no. Taxing corporations helps split the burden between consumers, other businesses, and foreign consumers and businesses. In this particular instance, since the gas tax will be directly shifted to the oil producers, the oil producers can shift 100% of the tax back to the consumer. This is because gas is a mostly inelastic resource that consumers have proven they will pay the higher price for. For most things business will absorb much of the tax to keep competitive in the marketplace.
Using J’s logic, it is foolish to tax people because they will just pass the tax on to their employers through demanding higher pay.
Employees cannot pass anything on to their employers so your analogy is just absurd. The only thing that made any sense is the recognition that only a person can be taxed.
It’s too bad. I thought maybe you had seen the light on a common fallacy, but apparently you’re still buying into the notion that taxing corporations is a good thing.
But, as you have argued in the past, and as the Supreme Court has decided, corporations can be classified as people, so how is taxing them fallacious? Are you seriously saying that all corporations should be tax exempt?
That seems an awfully fascistic view.
“Employees cannot pass anything on to their employers so your analogy is just absurd.”
I see you have never taken Economics 101, or read a book. The amount that workers demand from employers to take a work offer depends on their take home pay, benefits, and taxes. In a state like Florida, where there is no state income tax and lowered property tax, the workers demand less. There are also other reasons such as cheaper housing, etc. In a state like New York, where there are relatively high taxes, the workers demand more. Workers absolutely can pass on tax to their employees based on the market value of their labor.
Do yourself a favor, read an Economics 101 book (Ben Bernacke has a good one) and I’ll be looking forward for when you can have an adult conversation on economics. I recommend the sections on “supply and demand” and “elasticity”.