Friday, July 18, 2008

McCain supports longer gas tax holiday!

Yes, three months is no longer enough, and he now wants to make the gas tax holiday longer.

I still don't think he's going far enough. Why not propose generous gas subsidies? Or at least financial rewards for owning a gas guzzler, since he specifically emphasizes the plight of "low income Americans that [sic] are driving the oldest automobiles."

Funny how the one big case in which McCain emphasizes helping low-income Americans is via a proposal that would not actually do so, given the general consensus among economists that the gas tax holiday would not actually lower prices at the pump.

Although then again, it's not even a proposal - rather, it's just a Kabuki gesture - given that he is not actually proposing legislation to implement it. Last I checked, he was still a Senator.

3 comments:

Webmaster said...

Dan: I've put you on my blogroll.

http://www.corpfinblog.com/

Webmaster said...

I support McCain on this issue. Dan, have you written on Obama's proposal to repeal the FICA wage base cap? This has got to be the most dramatic tax increase since Herbert Hoover.

Daniel Shaviro said...

Yes, I addressed it (maybe in June?) and said I wasn't a big fan - I'd prefer base-broadening to raise revenues, and simultaneously addressing entitlements growth - but I did at least give him credit for trying to address the fiscal gap rather than denying and worsening it. In a better world than ours, the Republicans would respond to it with an alternative proposal better fitting their (pre-turn to insanity) philosophy of government, and the two sides would work something out.