Called for maintaining $4 gas with Fed taxes. Are the liberals, who are weaned on the votes of the unwashed, that stupid? The most regressive of taxes slaughter the poor. Of course, they'd put in some rebates for the poor. But the hit to economy would be enormous if these prices are maintained, especially in this depression. Where is the momo in this dynamic? Politically, what do you guys see? Do the politicos see the seriousness of this? Or, are they, like always, clueless? I think, with the average guys already buried, this is a horrible development with no indication we are going to get a policy. Pickens will be making the rounds again, but he hasn't been able to make a dent. I'm looking for some serious analysis here. Has to be some top flight oil traders lurking ET.
I'd rather the oil companies gouge the public with profits than have a tax to maintain $4 gas. Corp's could provide a better benefit with the excess profit than the gov. Fed and state taxes on cig provided no benefit from the higher tax. I'd feel much better if the cig co's fleeced me out of a $5 tax on a pack than give to the gov't. If the oil co raised the price of a gallon of gas today by two bucks, I know sometime in the future there might be a give back, not so with the fed or state.
China has very high subsidies on internal fuel costs, and according to many they're the "economy of the future". If it works for them, why wouldn't it work for the US?