Thursday, December 2, 2010

Federal Gas Tax to end Federal Deficit a Likely Possibility

Gas Tax Debate: Will Paying More at the Pump Keep Us from Going Broke?

Click on "Gas Tax Debate" to read or watch online video from Yahoo Business.

If you want to end the deficit and get people to buy at the same time more fuel efficient cars and trucks, one way to do it would be to add a federal Gas tax somewhere between 15 cents to 50 cents  per gallon in taxes nationally. To be fair this would have to be both on gas and diesel but might not be because trucking companies would have to raise the price of almost everything shipped (everything in your home including all the pieces of your home) came likely at one point or another by a diesel powered semi truck. So possibly only gas would be taxed in this way likely because diesel is already very economical in many ways compared to gasoline in bang for the buck and besides it would just raise the cost of everything and contribute to inflation.

This is a debate you will likely hear more and more about because this is something that could be easily done, whereas cutting social security or other entitlement programs in order to balance the Federal Budget permanently might take literally forever (until Hell Freezes over might be the relevant phrase)  when talking about entitlement changes regarding elected congressional members.

However, a gas tax (as long as the poorest are given something like food stamps for gas) might be completely necessary and workable as long as enough people understand that this will make our whole economy more quickly become greener and therefore move us towards sustainability and away from  us becoming just another banana republic with half the population sleeping in the streets without food or jobs.

So, in this way it could become like a "Flat Tax" where the pain is spread around universally, and if the poor were given food stamp like vouchers so they were not harmed by this, then money would be raised to end the Federal Deficit while our country would be encouraged to buy greener cars and trucks. So it would be a win-win situation for all Republican and Democratic Congressmen to get behind.

No comments: