, pub-1153197987467784, DIRECT, f08c47fec0942fa0, pub-1153197987467784, DIRECT, f08c47fec0942fa0
1 min read
22 Jun

NBC News is reporting that Joe's going to ask Congress for a three month gas tax holiday. So he causes the price of gas to double, finds out that no one believes him when he tried to blame everyone but himself, so now he wants Congress to remove 10 billion dollars from a fund that's used for roads and bridges. So much for infrastructure.

But Economists and his friends at NPR says this is a bad idea.

That would mean the government would stop collecting the tax — 18 cents per gallon on gas and 24 cents per gallon on diesel — until the end of September, the peak driving period for people heading out on summer vacations.   But economists say the move might not make that big a difference to drivers — and could actually backfire on the economy.                                                                  

"It would be very unlikely that gas prices would fall by more than a dime because of this change. And oil company profits would go up by billions of dollars," said Jason Furman, who served as a top economic adviser to former President Barack Obama and is now at the Harvard Kennedy School. 

What's even worse, he wants all 50 states to do the same. So how does this make any sense?

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