McCain's Gas Tax Holiday

We seem to be in the season of economic stimulus likely corresponding both with an impending economic downturn and a presidential election cycle. In celebration of both, John McCain has recommended a "Gas Tax Holiday" to coincide with the busy summer driving period between Memorial Day and Labor Day.

While initially tempting, this NY Times article suggests that the tax adjustment might be sending the wrong signals. Just as Americans are making an economically driven recovery from oil addiction, this incentive would encourage them back to the pump. In the long term, resulting in a higher price for gas and increased carbon dioxide emissions.

While this and other gas incentive programs may, on the surface, affect the consumer; the real beneficiary, is the gas companies who seem to be doing OK without it.

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