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More than 200 economists, including four Nobel prize winners, signed a letter rejecting proposals by presidential candidates Hillary Clinton and John McCain to offer a summertime gas-tax holiday.
Columbia University economist Joseph Stiglitz, former Congressional Budget Office Director Alice Rivlin and 2007 Nobel winner Roger Myerson are among those who signed the letter calling proposals to temporarily lift the tax a bad idea. Another is Richard Schmalensee of the Massachusetts Institute of Technology, who was member of President George H.W. Bush's Council of Economic Advisers.
The moratorium would mostly benefit oil companies while increasing the federal budget deficit and reducing funding for the government highway maintenance trust fund, the economists said.
``Suspending the federal tax on gasoline this summer is a bad idea, and we oppose it,'' the letter says. Economist Henry Aaron of the Brookings Institution is among those circulating the letter. Aaron said that while he supports Obama, the list includes Republicans and Clinton supporters.
When I cleared away all of the nonsense, there was nothing left except the first sentence fragment. But thanks for that.
Its a gimmick.
More than 200 economists sign letter urging no gas tax holiday
http://www.bloomberg.com/apps/news?pid=20601087&sid=aza2XQB.kk0k&refer=home
I find these sporadic tax "rebates" and tax "holidays" disturbing in general.
I find the Democrats goal of specifically targeting oil company profits disturbing in particular.
regardless of theoretical economic outcomes of the gas tax holiday, ANY time someone votes to decrease taxes is a GOOD thing. one thing that will not be theoretical is that the government will not be siphoning off more of my money this summer should this tax holiday be passed. any other musings about the price of gas are mere theory and while plausible, still remain mere theory.
That's much too sensible....and whenever did a Democritter rescind a welfare program? Besides, there is method to their madness...
Democrat Socialists want the voters to first agree emotionally and in principle to their levying a "windfall profit" tax on "Big Bad Oil".....so later they can freely levy the same tax upon other "Big Bad" companies of their choice in the future. Think of the "windfall profits" that would be for "Big and Getting Bigger" Government!
Socialists think the profits you make belong to them.
And here I thought you had a brain but it just turned out to just be a figment...
GunnyL said:Well, feel free to add a conservative to your list. I'm not socialist by any means, but capitalism unchecked to the point of self-destruction and and beyond the means of moderation operating solely on pure greed is something that needs to be reined in. Preferrably by self-control. If not, the government needs to step in.
.We aren't talking beer here. We're talking a comodity that runs the world, and this nation in particular. Our current lifestyle is dependent on it; yet, it is a finite comodity and we haven't done shit to get off it but try to stuff corn in our gas tanks
Since when is it required for any company to "do good" for the nation? Are you and your company "doing good" for the nation? Companies are good if they follow the law…if they don't follow the law then you can call them bad.If these companies can't do anything for the good this nation and its people, then the same government that's got its hand stuffed in MY pocket need to stick it in theirs.
So the problem is all those evil corporate tax breaks? And where do those tax breaks come from? Oh, that's right….from the government. So why can't we say the Government is at fault?When those greedoids don't get corporate tax breaks for each and every damned thing they do and start paying at the same rate as everyone else, you can get back to me. Otherwise, the tear you see me shedding for them is just my sinuses draining.
Who's raping anything here? How about the corn-for-oil farmers raping the food supply?Normal-thinking understand the simple concept of "take, take, take and no give" results in strippemined mountains. When you set out to rape the land and it's people regardless the consequences your overly-greedy ass needs to be stopped and you can label the means whatever you like.
You could "stash your cash" and have tax advantages too if you owned your own company instead of working for somebody else's company. But that takes more work and effort and risk on your part. Big Oil took risks for years and made very little profit for years too. Now that they are making a decent 8.9% profit margin they've suddenly become the bad guy? The problem is not our oil companies. The problem stems from supply and demand. The lack of supply is the government's fault.I don't about this windfall profits crap, but it'd nice if coportations paid their fair share instead of stashing their cash in corporate loopholes I can't hide min in.
Capitalism working by the set rules is not wrong. And what's with this "pure greed" judgement crap? That's sounding like a liberal socialist.
And, of course, people should never learn from their mistakes....
just ask Baby Bush... he'll tell you.
Gotta love him, though, he believes the same thing on Wednesday that he did on Monday........ no matter WHAT happened on Tuesday (to quote Stephen Colbert).
It's not called learning from your mistakes, its called playing the political game. Just in case you haven't noticed Bush isn't running for the presidency this year, are you stuck in 2004??
Capitalism working by the set rules is not wrong. And what's with this "pure greed" judgement crap? That's sounding like a liberal socialist.
And who's fault is it that "we haven't done shit"? Look no further than the government. And now you want the government to decide who they think is making "excessive" profits which they can steal?
Since when is it required for any company to "do good" for the nation? Are you and your company "doing good" for the nation? Companies are good if they follow the law if they don't follow the law then you can call them bad.
So the problem is all those evil corporate tax breaks? And where do those tax breaks come from? Oh, that's right .from the government. So why can't we say the Government is at fault?
Who's raping anything here? How about the corn-for-oil farmers raping the food supply?
You could "stash your cash" and have tax advantages too if you owned your own company instead of working for somebody else's company. But that takes more work and effort and risk on your part. Big Oil took risks for years and made very little profit for years too. Now that they are making a decent 8.9% profit margin they've suddenly become the bad guy? The problem is not our oil companies. The problem stems from supply and demand. The lack of supply is the government's fault.
Bush isn't running, but his agenda is on the ballot. But I don't blame you for trying to distance McCain from the failed, disastrous policies he embraces. If Republicans ran on what they actually believed, there would be no point in running at all.
Please do tell, what Bush agendas are on the ballot? This weak argument of trying to link MCcain as some third term, is just that weak. The alternative to MCcain, an explosion of federal spending and higher taxes, that sounds great.
Please do tell, what Bush agendas are on the ballot? This weak argument of trying to link MCcain as some third term, is just that weak. The alternative to MCcain, an explosion of federal spending and higher taxes, that sounds great.
Do you know what you're talking about at all? Seriously.
1. More Iraq... more expenditures.
2. More stupid economic policy.
3, More of the religious right's agenda.
As for Fed spending... you can thank YOUR repub pres and congress for our deficit. The dems haven't had the ability to control spending bills for 7 1/2 years.
So other than your repetition of the repub playbook... do you have a point?
What crap THAT is. 
