Gas Tax Holiday would mean a Windfall Profit for the Oil Companies!

So, let’s get this straight…

In the last eight years, we have gone from a $200 billion annual budget surplus to a $250 billion annual deficit,Gas_prices
and the best two out of three presidential candidates can think of to pander to the electorate is to give the OIL COMPANIES another 18.4 cents per gallon tax break?

You do realize that’s what a "Gas Tax Holiday" is, right? It’s a tax break for the oil companies.

You’re not actually guaranteed to save one penny. Put it this way; according to AAA, the price of gas is up 15 cents in the last two weeks, and 32 cents in the last month, and it’s not even Memorial Day yet. Suppose Congress passes this "gas tax holiday," and the gas drops 18 cents the first day, but a week later, it’s right back where it started? How will you feel about that "tax holiday" then? Are you going to thank God because it could be 18 cents higher? Are you going to be cussing that the oil companies have  taken you for another 18 cents? My guess is going to be the latter. In the meantime, where does the money come from to fix bridges and roads? How many people will be laid off because there’s no money to pay them? Will we just borrow a few more billion from the Chinese, so that oil companies can make ANOTHER 18.4 cents per gallon?

This "Gas Tax Holiday" makes no sense. It might make a little bit of sense if the tax was closer to a dollar, and we had an exact accounting as to where the money paid for a gallon of gas goes. But for God’s sake, people; it’s 5% of the price of a gallon of gas right now, in a market where the price is up almost 70% in the last year. We’re handing the oil companies enough money right now; let’s not hand them more.

There is no level at which this is not a stupid idea.

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