Tuesday, May 6

A Gas Tax Holliday is "the economic equivalent of solving the obesity problem by making Twinkies, ho-hos, and deep-fried mars bars tax deductible"

Please people do not be fooled by the gas tax holiday the politicians are promoting.

A Federal Gas Tax Holiday is bunk. Worse than bunk, it's counter productive -- the economic equivalent of solving the obesity problem by making Twinkies, ho-hos, and deep-fried mars bars tax deductible. Some people might call that populism, but pandering is closer to the mark.

Consider the following: The federal government figures that the average American drives 15,000 miles,1 or about two thirds of the way around the circumference of the Earth, every year.2 Put another way that's about 41 miles a day: about a gallon and a half of gas by most sane standards. The federal tax on that gallon and a half is a whopping twenty-seven cents.3

Twenty-seven cents. Try not to spend it all in one place.

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