Here we go again with Clinton's closed door policy development. History does repeat its self especially when voters repeat bad decision making.
Senator Clinton proclaims that the best way to combat high gas prices is to lift the gas tax and transfer balance of the abatement to the oil companies. This varies a little from McCain's proposal, which only removes the fuel tax.
Clinton proposes that oil companies should consume the lost tax revenues as penalty for the high prices. However, this approach does not lower the actual price paid at the pump. The federal gas tax is 18.4 cents per gallon. On top a state charging the standard tax they may add a sales tax, like the 4% in Georgia. Florida charges 14.5 cents per gallon then charges an additional 4 cents excise tax. Not to mention all the trust funds that are charged into the price, some folks in Florida are paying up to 52.9 cents per gallon. Hawaii charges4% additional sales tax and county tax, also, .12 cents per gallon for an environment response tax. (Source: American Petroleum Institute)
So with all these hidden cost what exactly are the oil companies paying and what would we be left with? And, who's keeping track of gas consumption per county and subtracting the county appointed tax (ad the state tax). Will Clinton make the county auditor pay the lost revenues? This plan doesn't make fundamental sense.
When Senator Clinton was asked what economist supported her plan she rebutted, "I'm not going to put my lot in with economists because I know if we did it right, if we had a president who used all the tools of his presidency, we would decide it in such a way that it would be implemented effectively."
What does that mean? Maybe, it means, that once again she devised a plan without meeting with anyone experienced in the subject matter.
Clinton went on defending her stance by charging that her opposition are "elitist". "We've got to get out of this mind-set where somehow elite opinion is always on the side of doing things that really disadvantage the vast majority of Americans."
If using a Harvard education, fundamental sense, and experienced economist to face an economic problem is elitist; then Clinton needs to join the winning team.
