Via Memeorandum, more idiocy:
Policy differences between Barack Obama and Hillary Clinton have been far and few, but a new one emerged on Monday over a proposed gas tax holiday. Obama says he’s against while Clinton says she’s in favor, putting her on the same side as John McCain, who proposed such a holiday last week.
Gas prices could hit $4 this summer, raising the ire of voters and putting pressure on presidential candidates to promise immediate action.
Speaking on Larry King Live on Monday night, Clinton outlined a series of steps to address the issue at the beginning of the show, reflecting the growing importance of pocketbook concerns among voters. “I would also consider a gas tax holiday, if we could make up the lost revenues from the Highway Trust Fund,” she said, without specifying how to make up those lost revenues.
Earlier Monday at a community college in the Philadelphia suburbs, Obama rejected a tax holiday as bad economic policy. “I’ve said I think John McCain’s proposal for a three-month tax holiday is a bad idea,” Obama said, warning consumers that any price cut would be short lived before costs spike back.
“We’re talking about 5 percent of your total cost of gas that you suspend for three months, which might save you a few hundred bucks that then will spike right up,” Obama said. “Now keep in mind that it will save you that if Exxon Mobil doesn’t decide, ‘We’ll just tack on another 5 percent on the current cost.’”
The cause of our current gas price problem is not the gas tax, and a tax holiday makes no sense. If you think the gas tax is the problem, permanently revoke it. Otherwise, quit pandering.
Seriously- there are so many things out there that have a real impact on gas prices- the weak dollar, increased demand in developing economies (think China and India), refining limitation, tensions in the Middle East, peak oil, and so on. A gas tax holiday solves no problems. Period. I guess this pandering from Clinton and McCain should not surprise me- I remember being livid when Bush, Harry Reid and Kerry were spewing nonsense about the Strategic Petroleum Reserve.
Our energy problems are long-term, and they are big. Cosmetic bullshit like a brief pause in the gas tax will do nothing other than to continue to erode my faith in our elected officials. This being an election year, I can see some sort of bipartisan stupidity pushed through both houses in no time.