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Higher Gas Tax? Smart Move
BusinessWeek Online ^ | AUGUST 19, 2005 | Christopher Farrell

Posted on 08/31/2005 11:37:33 AM PDT by kddid

Raising it to 50 cents or $1 per gallon would push conservation and send a signal to America's enemies. It's the surest way to cut oil dependence

Thanks to rising oil prices, the price of running a modern economy keeps spiraling higher. Crude has more than doubled since 2003, to some $65 a barrel, hitting a peak of $67-plus earlier this month. The average price for a gallon of gas has climbed to a record national average of $2.55. From Los Angeles to Boston, we're all suffering from price shock when we pull into a gas station.

What sort of action should government take in response to high energy prices? How about hiking the federal tax on gasoline? Yes, you read that right. Washington should raise the federal tax on gasoline from its current 18.4 cents a gallon to 50 cents -- or even $1.

STUFFED WITH PORK. The payoff from a steep gas tax could be huge, ranging from reduced reliance on Persian Gulf oil producers to a surge in technological innovation in energy. What's more, an audacious gas-tax initiative would give comfort to our allies and unsettle our enemies -- two big pluses during the war against terror and the fighting in Iraq.

True, Congress recently passed new energy legislation. But to call it pork-laden would be an insult to the sausage-making industry. The bill had little to do with savvy national energy policy and everything to do with rewarding well-heeled constituencies, such as the oil and gas industry, ethanol farmers, and nuclear power companies -- not to mention indulging in such ludicrous moves as extending daylight savings time.

(Excerpt) Read more at businessweek.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: energy; gasprices
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To: pikachu

I think they are dumb for living IN NYC. Someone should paint a giant bullseye on it for the terrorists. I may have to drive more but a lot of other stuff is a lot cheaper. I know farmers who haul truckloads of fresh produce to NYC because they can get so much more for it there that it's worth the time and expense. Also, if there is another attack, I highly doubt it will be where I live.


61 posted on 08/31/2005 5:32:50 PM PDT by metmom (Welfare was never meant to be a career choice.)
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To: SierraWasp

Duh, lets put solar power in all of our cars and demand that GM/Ford/Chrysler release their 200 mile per gallon carbs, they have hidden.

Last but not least lets get rid of all the Suvs.

Response to #43.


62 posted on 08/31/2005 5:42:23 PM PDT by Grampa Dave (Jamie Gorelick is responsible for more dead Americans(9-11) than those killed in Iraq.)
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To: ElRushbo

I love how one can speak of markets forces as well as advocating increased taxation in the same paragraph...
----
Amazing to say the least -- the last thing this country needs or can handle is increased taxation, beyond the present levels of confiscatory taxation.


63 posted on 08/31/2005 5:46:47 PM PDT by EagleUSA
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To: paulcox1978
Current fuel prices have to do squarely with increased worldwide demand, most notably from China.

Worldwide demand for oil has increased around 5% in the last two years. During that same time, the price of oil has doubled. Anything about that seem strange to you?

From Forbes: (He's a right winger)
Mr Forbes, editor-in-chief of the influential Forbes business magazine, said inflation and increased demand from China and India only accounted for a small part of the price raise from $US25 to $US30 a barrel three years ago.

"The rest of it is sheer bubble speculation," Mr Forbes said in Sydney at the launch of a business conference.

"I'll be blunt, there's hardly a hedge fund in North America that hasn't speculated on oil futures.

Oil Bubble to Burst:Forbes

64 posted on 08/31/2005 8:03:17 PM PDT by Mase
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To: paulcox1978
Why should we stand idly by while SUV-driving 'patriots' go to the pump and send their dollars overseas

Indeed. Being an advocate for freedom, please tell us why we should or shouldn't.

I believe in free markets

Hmmmm....

But we've got to get serious about technologies that will allow us to maintain our current standard of living while consuming less fuel and giving less money to the terrorists.

Should this be the role of the federal government (synthetic fuels, ethanol etc) or should this be left up to the free market?

We need to _permanently_ lower our domestic consumption to the point where we can supply our energy needs ourself

Can you name any countries that have saved their way to prosperity?

I love how all the free-market analysis out there on these right-wing sites,

And what conservative sites and/or think tanks do you suggest going to for analysis?

65 posted on 08/31/2005 8:24:00 PM PDT by Mase
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To: paulcox1978
Maybe Pat Robertson and Jerry Falwell were right -- if we stop gay people from getting married, we won't get attacked again.

President Bush is the first leader in the world to deal with Islamofacism in the only manner that will defeat it.

Bush abandoned free trade? Whatever are you talking about?

Bush abandoned honesty?. I guess what you really meant to say is that Bush lied and people died. Or, was it no blood for oil!?

Then you go on to criticize Bush for opposing gay marriage and protecting traditional family values??!!

You sure you're at the right website? I hope you like cats.

66 posted on 08/31/2005 8:39:48 PM PDT by Mase
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To: piceapungens

We get more from Mexico and Canada than the Saudis and most all the oil from the Persian Gulf.

Throw in Venezula, also an OPEC member, that is high on the list of individual sources.

The lack of spine of our so called leaders to push the Saudis to stop their wink and nod at Whabbi extremism is what our real problem.


67 posted on 08/31/2005 8:47:47 PM PDT by Fledermaus (I wish those on the Left would just do us all a favor and take themselves out of their misery.)
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