Too bad there isn’t a tax on pandering. McCain and Clinton are advocating a gas-tax holiday over the summer. Obama is not.
Opinion surveys have shown that the faltering economy and high gas prices are the top concerns of voters across the country, edging out the war in Iraq.
Is the price of gasoline a problem for people? Sure is. Is the answer a short hiatus? Sure isn’t. The tax holiday will increase consumption, oil company profits and undermine efforts make alternative fuel sources pencil out. Then the tax will resume. It’s a short term grab for votes that damages long-term prospects for a solution.
Oil companies love the idea. Do you?