Republicans should do betterPosted by Craig Westover | 9:07 AM |
Very little to add in my continued opposition to this economically unsound proposal --
I guess the is something magic about 64 percent of the Americans. According to the DFL, 64 percent of Americans believe that “Big Oil” is to blame for the rise in gas prices, so lets go after them. Here Kennedy says that 64 percent of Americans favor government giving them some money, so hey, let’s go for it.
Kennedy Approach To Lower Gas Prices Favored 2-1 in USA Today survey
(St. Paul, Minnesota) – Congressman Mark Kennedy introduced the Summer Relief for Motorist Act this week to temporarily suspend the federal gas tax from Memorial Day through Labor Day to immediately lower prices at the pump. A survey released by U.S.A Today shows that 64% of Americans approve of temporarily suspending the federal gas tax as a way to reduce prices at the pump, while only 32% disapprove. (Gallup/USA Today poll of 1,001 adults, conducted April 28-30. Survey has a 3-point error margin.)
Kennedy’s plan would keep the Highway Trust Fund fully funded by collecting deep-water lease royalty fees that were previously uncollected due to an oversight of the Management and Mineral Service. The $7 billion would bring the past-due accounts of deep-water oil companies up to date and hold the Highway Trust Fund harmless without raising taxes.
“I’m pleased to see that Americans are supporting my common sense plan to immediately lower prices at the pump,” said Mark Kennedy. “While this plan will provide temporary relief, I will continue working to lower prices in the long-run by reducing our dependence on foreign oil. One such plan is to redirect $2.5 billion in tax incentives for oil companies to alternative fuel sources like Ethanol (E85), hybrids, and hydrogen.”
What I find more interesting and encouraging is that when offered reduced gasoline prices through suspension of the gas tax, 32 percent of the people disapproved. They didn’t want the money. Either an awful lot of people are on the oil industry payroll, or maybe Americans are more economically savvy than they are given credit for.
This is all such an incredibly bad idea. As King Banaian notes --
If you want to see the rubber really hit the road, Congressman [Kennedy] how about voting to remove the $.54 tariff on Brazilian ethanol? Might cost you a few votes from corn farmers (and a few contributions from Archer-Daniels), but that stuff comes online a lot faster than expanding refining capacity.Republicans should do better than this.
[Note -- I don't support the incentives for hybred vehicles mentioned in the link King includes in his post. Rather, I support looking at the government incentives given the oil industry that might keep the price of gasoline artificially low. If conservation and alternative fuels are really the objectives, not subsidies to "Small Agriculture," then let's allow gas prices rise to the market rate and unloose competition among oil companies to reduce costs and improve gas-buring efficiency, car manufacturer's to produce low-cost high mileage vehicles and hybreds, and ethanol producers to create a viable industry at market prices that can compete with a tarriff-free foreign source.]
Update: I haven’t said much about this part of the Kennedy plan --
Kennedy’s plan would keep the Highway Trust Fund fully funded by collecting deep-water lease royalty fees that were previously uncollected due to an oversight of the Management and Mineral Service. The $7 billion would bring the past-due accounts of deep-water oil companies up to date and hold the Highway Trust Fund harmless without raising taxes.If we suddenly found $7 billion dollars, why wouldn’t we apply it to the deficit? But now I think I get it.
Mrs. Paul entered a Coca Cola promotion during the Olympics. She collected event coupons and for every event in which the United States won a medal, we get five two-liter bottles of any Coke product free. So I can go to Wal-Mart, where two-liter bottles of Coke are $1 a bottle, and save $5. Or, I can go to the supermarket in Hudson where the price is $1.49 and save $7.45. So by shopping at the supermarket, I save an additional $2.45. We have 11 coupons -- that’s an $26.95 additional spending money in my pocket or nearly 50 percent greater savings than if I shopped at evil Wal-Mart.
With that money in the war chest and that understanding of economics, I am seriously considering a run for office.