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Gas Tax Holiday and Other Rubbish:

By       Message Mike Folkerth       (Page 1 of 2 pages)     Permalink

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Inflation is a purposeful and terrible tax on the American people. I watched a news program a few nights ago that was interviewing older people who can no longer pay their basic living costs. One older couple was actually sleeping in their van as they found themselves unable to pay rising rents along with their cost for basic survival.


While this type of Fed and Federal Government induced situation is occurring daily in households across America, our presidential candidates spend all day every day arguing about repealing the gas tax for the summer months. Clinton and McCain want a gas tax holiday and Obama doesn’t.


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Nearly every economist in the U.S., including calculations using my Mikeronomics, agree with Obama. The savings for the entire summer for the average person would be about $30.00. This valuable time should be spent discussing why people desperately need the $30.


After all, most households are already going to get a check in the mail representing $600 for working adults and $300 for each dependent child. Why another thirty bucks? Why does our government have to send out money for the good voters to spend? That should be the question.

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Why aren’t Americans collecting the needed money from their jobs? Oh…so that’s it, millions of Americans don’t have jobs and millions more are underemployed to a point of requiring public assistance…often referred to as the working poor. So, it’s not the gas tax at all.


The economy won’t come back until the jobs come back, so how are the jobs going to come back…what’s the plan? That should be the central subject of debate.


So why isn’t it? Because those are hard questions without easy answers and since none of our presidential candidates have the foggiest idea of any answers…spinning the benefits of saving 30 cents per day with a gas tax holiday and betting on the majority of voters being dumb enough to go for the distraction, is the next best plan. But wait, doesn’t Senator Clinton believe that we need tax increases? I think so…but then, that is after she wins.

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This entire debate over the gas tax is troubling me, not because the candidates are low enough to resort to petty pandering, I expect that from them and particularly from Senator Clinton. My concern is that “we the people” accept the total and complete failure of our leaders with little blow back.


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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)

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