Mr. President, WE NEED A TAX BREAK…
… on gasoline. Higher motor fuel prices raises prices across the board. With the predictions of $4 per gallon gasoline being discussed, isn’t it about time that the government give the American people a break that we’ll see not only at the pump, but at the supermarket checkout?
The federal excise tax on gasoline is 18.4 cents per gallon. On top of that the various states tacks on double, sometimes triple, or even 5 times that amount on gasoline and diesel fuel. Fuel taxes are regressive. Congress needs to suspend the tax on fuel until mid-summer in order to stimulate the economy in a positive way. The government should also encourage the states to suspend or temporarily reduce the amount of rider they have on fuel as well.
Right now it is fuel costs that are slowing the economy. Reduce or suspend these taxes and it will go a long way to stimulate the economy beyond that $300 check that they are sending out. Everything from gasoline to crackers will become cheaper and the dollar will be bolstered. That’s what we need.
Obviously, if we decrease taxes, there needs to be a cut in spending somewhere. I recommend a suspension in Congressional salaries to offset the tax cut. My reason? They aren’t doing a damned thing anyway so why should they be paid.
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