Gas Tax Holiday: Clinton Determined Despite Criticism
May 5th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsHillary Clinton still believes a gas tax holiday is good way of easing American’s pain at the pump despite criticism leveled at the idea. Many believe the initiative comes down to political pandering and that the only beneficiaries of the proposed federal gas tax break would be politicians and oil companies.
According to the The Guardian newspaper: “The gasoline tax holiday has emerged as a policy distinction between the two candidates, and Clinton in recent days has promoted it in an effort to win over working-class voters hard hit by rising fuel prices. Obama dismisses the idea as an unworkable political pandering.”
Charles Delvalle of Investor’s Daily Edge says, “Clinton thinks that this tax somehow takes excess profits away from oil companies. Um, last time I checked a tax holiday takes money away from government. After all, they’re the ones taxing!
“And then McCain thinks this holiday will somehow give parents the money they’ll need to go back to school shopping. What does he think, that parents fill up their tank twice a day? This money won’t be anough for a damn thing!
“My conclusion was that the gas-tax did absolutely nothing to fix the reason that gas prices are higher. And in the end, all it would do is spur more demand for gasoline, meaning prices would go even higher.”
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