Worst. Policy. Ever.
Everyone else has noted that (a) this won't save people much (maybe $100 for the summer) and (b) might not save people money at all if the gas stations don't pass all of the savings along.
My problem is that HRC and McCain are supporting it. This is the worst sort of short-sighted political pandering and both are buying into directly, describing it as a "nice benefit" for American families. This is no benefit for American families. What are they going to do with that fraction-of-$100? At most, it will go to buoy higher food spending as prices "sky-rocket" at the supermarket.
So what exactly is this if not an attempt to buy votes? Of course, that's nullified as both parties are in on it -- and Bush himself might end up taking credit for the whole thing. Another expensive program that buys nothing. Anyone interested in a bridge?
Oh, and you might wonder why I mentioned "sky-rocketing" food prices. I shop in the DC Metro area (Boston and NYC before that), and I haven't seen any rise in prices. I think prices here are SO high that any increase would simply lower demand. I certainly don't need plums at $3/lb.
2 comments:
I wouldn't call it "worst policy ever" - that might be ethanol subsidies - but yeah, a gas tax holiday is an horrendous idea.
I live in Boston, and I have certainly been noticing some skyrocketing of food prices for the past several months. A few examples, frozen OJ (which rose from $1.39/can to $1.79 from 2002 to 2007) has recently jumped from $1.89 to $2.39. Pasta, which used to be available on-sale for as low as 33 cents/pound, or more often 50 cents, while regularly priced at 75 cents, has now jumped up to $1.25, and (very rare) sales never go less than about 80 cents. Those are the most egregious examples, but many other products have gone up as well (though generally not as dramatically). Of course, not all food prices have soared; potatoes ($1 to $1.19 per pound for loose potatoes), onions ($1.79-$1.99 for 2 pounds), and most fruits have seemingly remained unaffected. Kosher meat has also stayed the same.
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