Thursday, May 01, 2008

Obama on the Horrible Gas Tax Holiday

John McCain introduced the idea of a gas tax holiday and Hillary Clinton jumped on the bandwagon. These two ignore the basic economic concept of supply and demand. Removing the tax on gas would increase demand, which would then increase the price.

Barack Obama isn't on board, calling the idea of a gas tax holiday a Washington gimmick...

That’s typical of how Washington works. There’s a problem, everybody’s upset about gas prices – let’s find some short-term, quick-fix, that we can say we did something even though, even though we’re not really doing anything. We cannot deliver on a better energy policy unless we change how business is done in Washington.

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