|
 lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 1 year, 1 month
|
 McCain calls for summer-long suspension of gas tax 
#8288732 - 04/15/08 07:33 PM (4 years, 1 month ago) |
|
|
PITTSBURGH - Republican Sen. John McCain on Tuesday called for a summer-long suspension of the federal gasoline tax and several tax cuts as the likely presidential nominee sought to stem the public's pain from a troubled economy.
Timed for the day millions of Americans filed their tax returns, McCain offered some immediate steps as well as long-term proposals in a broad economic speech. The nation's financial woes have replaced the Iraq war as the top concern for voters, and McCain, who has said economics is not his strongest suit, felt compelled to address the problems as he looks ahead to the November general election.
"In so many ways, we need to make a clean break from the worst excesses of both political parties," McCain told an audience at Carnegie Mellon University. "Somewhere along the way, too many Republicans in Congress became indistinguishable from the big-spending Democrats they used to oppose."
To help people weather the downturn immediately, McCain urged Congress to institute a "gas-tax holiday" by suspending the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. By some estimates, the government would lose about $10 billion in revenue. He also renewed his call for the United States to stop adding to the Strategic Petroleum Reserve and thus lessen to some extent the worldwide demand for oil.
Combined, he said, the two proposals would reduce gas prices, which would have a trickle-down effect, and "help to spread relief across the American economy."
Aides said McCain's Senate staff was drafting a bill on the proposal. It's likely to face strong opposition not only from Congress but the states. The federal gasoline tax helps pay for highway projects in nearly every town through a dedicated trust fund. In the past, such proposals for gas tax holidays have not fared well as lawmakers and state and local officials prefer not to see changes in their revenue source.
McCain's effort to set his own economic course — and court independents — comes as the public is craving change. A new television ad airing in parts of Pennsylvania and Ohio says "McCain will take the best ideas from both parties to spur innovation, invest in people and create jobs."
McCain has faced criticism — fueled by Democrats as well as his own previous comments — that his policy strength is not economics. Democrats have argued that his free-market approach is out of step with people feeling the pinch. And, McCain has taken heat on taxes; he twice voted against cuts President Bush championed, but now advocates making them permanent because, he says, doing otherwise would amount to a tax increase.
Shortly before McCain's speech, the Labor Department reported another worrisome sign for the economy: Inflation at the wholesale level soared in March at nearly triple the rate that had been expected as the costs of energy and food both climbed rapidly. Oil prices hit a new high, rising over $113 a barrel.
To immediately address concerns about gas prices and the fallout from the credit crunch, McCain offered the gas-tax suspension proposal and said the Education Department should work with governors to ensure that each state's guarantee agency — nonprofits that traditionally back student loans issued by banks — is able to be the lender of last resort for student loans.
In the long-term, McCain offered plans aimed at helping the middle class and eliminating wasteful spending, saying he wants to:
_Raise the tax exemption for each dependent child from $3,500 to $7,000. Aides estimated it would cost $65 billion over one year to double the tax exemption, but argued that McCain would offset such expenses by cutting federal spending.
_Require more affluent people — couples making more than $164,000 — enrolled in Medicare to pay a higher premium for their prescription drugs than less-wealthy people.
_Offer people the option of choosing a simpler tax system with two tax rates and a standard deduction instead of sticking with the current system.
_Suspend for one year all increases in discretionary spending for agencies other than those that cover the military and veterans while launching an expansive review of the effectiveness of federal programs. Aides estimated a one-year freeze would save $15 billion.
While he touched on a wide-range of issues, McCain did not discuss the soaring federal deficit or enormous war costs. He also offered few details for his new proposals and did not include estimated price tags. Later, aides said if all of McCain's tax plans are implemented, including those previously announced, the total cost would be $195 billion as changes are phased in. They said McCain has found — or would find — the same amount of spending reductions to match.
McCain also sought to draw a contrast with Democratic rivals Barack Obama and Hillary Rodham Clinton, saying they would impose the single largest tax increase since World War II by allowing tax cuts enacted in 2001 and 2003 — and that McCain, himself, opposed — to expire.
"All these tax increases are the fine print under the slogan of 'hope:' They're going to raise your taxes by thousands of dollars per year — and they have the audacity to hope you don't mind," McCain said, playing on the title of an Obama book.
McCain, who has lagged behind his Democratic rivals in fundraising, made the same argument in an e-mail appeal for money.
Obama campaign spokesman Bill Burton said McCain's proposals offer "no change from George Bush's failed policies by going full speed ahead with fiscally irresponsible tax cuts for the wealthiest Americans." Clinton policy director Neera Tanden called it "a George Bush-redux of corporate windfalls and tax cuts for the wealthy that will bankrupt our government and leave working families with the bill."
McCain made his remarks a day after he said he believes the country has already entered a recession.
http://news.yahoo.com/s/ap/20080415/ap_on_bi_ge/mccain_economy_23
--------------------
America's debt problem is a "sign of leadership failure"
We have "reckless fiscal policies"
America has a debt problem and a failure of leadership.
Americans deserve better
Barack Obama
|
lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 1 year, 1 month
|
Re: McCain calls for summer-long suspension of gas tax [Re: lonestar2004]
#8288743 - 04/15/08 07:35 PM (4 years, 1 month ago) |
|
|
I love the idea!
But the Feds, States, and counties will not accept this.
Lately they are making a killing on the gas tax.
--------------------
America's debt problem is a "sign of leadership failure"
We have "reckless fiscal policies"
America has a debt problem and a failure of leadership.
Americans deserve better
Barack Obama
|
Yossarian22
Stranger
Registered: 09/12/07
Posts: 415
Last seen: 1 year, 2 months
|
Re: McCain calls for summer-long suspension of gas tax [Re: lonestar2004]
#8288786 - 04/15/08 07:43 PM (4 years, 1 month ago) |
|
|
This is a terrible idea. Cutting gas taxes isn't any kind of solution and cutting tax revenues in a time of a spiraling national deficit is just stupid. It's unfeasible pandering.
I guess this is what we can expect from a McCain presidency: ignore the 3 trillion dollar and counting war in Iraq, continue Bush's terrible economic policies and apply a laughable Band-Aid to our hemorrhaging economy to show he understands what it's like to be the little guy. If he gets elected, my advice is to transfer your investments and money into foreign currencies and stocks.
|
lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 1 year, 1 month
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8288879 - 04/15/08 08:00 PM (4 years, 1 month ago) |
|
|
Quote:
Yossarian22 said:
This is a terrible idea. .
Is cutting Amtrak subsidies really all that terrible of a idea?
--------------------
America's debt problem is a "sign of leadership failure"
We have "reckless fiscal policies"
America has a debt problem and a failure of leadership.
Americans deserve better
Barack Obama
|
 DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,787
Loc: Street of Dreams
|
Re: McCain calls for summer-long suspension of gas tax [Re: lonestar2004]
#8288909 - 04/15/08 08:05 PM (4 years, 1 month ago) |
|
|
Sounds like a bad idea to me. 
Dont get me wrong, Im all for low taxes. But this strikes me as a knee jerk, election ploy. If he wants to lower gas takes, do it the proper way... Introduce a bill and get the tax lowered permanently.
I honestly didnt read the whole thing... what does amtrak have to do with it?
|
Yossarian22
Stranger
Registered: 09/12/07
Posts: 415
Last seen: 1 year, 2 months
|
Re: McCain calls for summer-long suspension of gas tax [Re: lonestar2004]
#8288983 - 04/15/08 08:19 PM (4 years, 1 month ago) |
|
|
Quote:
lonestar2004 said:
Is cutting Amtrak subsidies really all that terrible of a idea?
That's not the only thing he'd be cutting, and yes, trying to lower gas prices by cutting public transportation funds is a pretty bad idea. It's a stupid stunt and I certainly hope the American people are smart enough to see through such transparent pandering.
Edited by Yossarian22 (04/15/08 08:20 PM)
|
lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 1 year, 1 month
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8289024 - 04/15/08 08:27 PM (4 years, 1 month ago) |
|
|
why the fuck are we paying for mass transit systems in a gas tax? (Fuck Amtrak)
and i thought my property taxes paid for the roads.
--------------------
America's debt problem is a "sign of leadership failure"
We have "reckless fiscal policies"
America has a debt problem and a failure of leadership.
Americans deserve better
Barack Obama
|
Yossarian22
Stranger
Registered: 09/12/07
Posts: 415
Last seen: 1 year, 2 months
|
Re: McCain calls for summer-long suspension of gas tax [Re: lonestar2004]
#8289084 - 04/15/08 08:38 PM (4 years, 1 month ago) |
|
|
Because mass transit reduces demand for gasoline, reduces congestion and pollution and generally benefits everyone around it? As someone who's lived around NYC, I can't imagine what traffic would be like if Amtrak shut down tomorrow.
|
DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,787
Loc: Street of Dreams
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8289094 - 04/15/08 08:39 PM (4 years, 1 month ago) |
|
|
Why cant antrak riders pay for their own transit? Why should car owners pay for their car, and amtrak riders? Sounds fucked up to me.
|
Yossarian22
Stranger
Registered: 09/12/07
Posts: 415
Last seen: 1 year, 2 months
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8289167 - 04/15/08 08:49 PM (4 years, 1 month ago) |
|
|
Because everyone benefits from mass transportation, including those that don't use it. As I said, it makes the roads less congested, saving you gas and time, decreases pollution, encourages commerce(making it easier to get around means increased traffic flow; if everyone who wanted to go to Manhattan had to drive, people in the environs would visit a lot less often for instance) and has other tangential benefits(reduces car-related accidents, helps reduce drunk driving by providing an alternative to automobiles, etc.) The truth is, having an effective and affordable public transportation system makes life a lot easier and better. Of course I don't hope to convince a bunch of libertarians in anything dependent upon communal benefit, but at least I tried.
Edit: I also forgot to mention: mass transit increases a region's density capacity which is important for future growth, it helps attract mobile, ambitious professionals, it reduces the demand for gasoline thereby reducing the price(or at least contributing to it) and our dependence on the unsavory oil market, it reduces wear and tear on roads which everyone, whether they drive or not, has to pay for, and helps lay the groundwork for transportation once gasoline prices continue to soar/gas runs out.
Returning to the main topic, the only way to have any real effect on gas prices is by decreasing the demand for gas and strengthening the American dollar. The first objective can be achieved by encouraging public transportation and mandating high fuel efficiency standards and the second objective isn't going to happen as long as we stay in Iraq and continue Bush's economic policies(which McCain has pledged to do, that maverick!)
Edited by Yossarian22 (04/15/08 09:05 PM)
|
DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,787
Loc: Street of Dreams
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8289195 - 04/15/08 08:54 PM (4 years, 1 month ago) |
|
|
Quote:
Of course I don't hope to convince a bunch of libertarians in anything dependent upon communal benefit, but at least I tried.
Better luck next time 
|
fireworks_god
SexyButt McDanger
Registered: 03/12/02
Posts: 23,662
Loc: Red Panda Village
Last seen: 1 hour, 45 minutes
|
Re: McCain calls for summer-long suspension of gas tax [Re: lonestar2004]
#8290321 - 04/16/08 02:55 AM (4 years, 1 month ago) |
|
|
These are great ideas, especially the summer-long suspension of gas-tax. The best way to benefit the people and the economy is for the government to cut itself out of the middle, instead of taxing more and distributing it. Offsetting the cost of gas prices will make it easier for people to afford higher prices in food. If McCain's for real regarding cutting taxes and cutting spending then he's got my vote. 
--------------------
  
 
If I should die this very moment
I wouldn't fear
For I've never known completeness
Like being here
Wrapped in the warmth of you
Loving every breath of you
  
 
|
fireworks_god
SexyButt McDanger
Registered: 03/12/02
Posts: 23,662
Loc: Red Panda Village
Last seen: 1 hour, 45 minutes
|
Re: McCain calls for summer-long suspension of gas tax [Re: fireworks_god]
#8290323 - 04/16/08 02:56 AM (4 years, 1 month ago) |
|
|
Not to mention that transportation costs being lessened by offsetting the cost of gas will have a direct effect on the price of food anyways.
--------------------
If I should die this very moment
I wouldn't fear
For I've never known completeness
Like being here
Wrapped in the warmth of you
Loving every breath of you
|
Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 23,193
Loc: Caribbean
Last seen: 20 hours, 1 minute
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8290392 - 04/16/08 04:05 AM (4 years, 1 month ago) |
|
|
> This is a terrible idea. Cutting gas taxes isn't any kind of solution and cutting tax revenues in a time of a spiraling national deficit is just stupid.
Not a completely terrible idea, but I suspect the impact will be minimal and short lived. Rather than looking at it from a "oh, I save a few bucks at the pump" standpoint, look at it from a cost of shipping goods thus reducing manufacturing costs standpoint. In the farming and production world, it could have a bit impact.
At least this gives a break to the people that are actually paying taxes and the break is proportional to the amount payed (as the break comes with usage rather than a flat payout).
If he really wants to make a difference, he needs to end out of control military spending and out of control welfare handouts, especially welfare handouts to other countries and illegal aliens. Finally, reinvest some of the saved money into non-fission based alternative energy research.
--------------------
Just another spore in the wind.
|
Yossarian22
Stranger
Registered: 09/12/07
Posts: 415
Last seen: 1 year, 2 months
|
Re: McCain calls for summer-long suspension of gas tax [Re: Seuss]
#8291142 - 04/16/08 10:25 AM (4 years, 1 month ago) |
|
|
Quote:
If he really wants to make a difference, he needs to end out of control military spending and out of control welfare handouts, especially welfare handouts to other countries and illegal aliens. Finally, reinvest some of the saved money into non-fission based alternative energy research.
Hahahaha. Foreign aid accounts for less than 1 percent of the US government's budget and illegal immigrants already receive no welfare benefits(although most do pay income taxes). Nice try, though.
No, this policy will only make things worse. Sure, gas goes down a little bit at first, but it's going to put the country further in debt. The greater the debt, the weaker the dollar, the weaker the dollar, the more expensive gas is going to be. It's like trying to extinguish a fire with grease.
Edit: And let's not forget that the tax accounts for only 5% of the cost. 5%- that's a drop in the bucket when you consider that the cost has more than doubled in the last few years.
Edited by Yossarian22 (04/16/08 10:29 AM)
|
fireworks_god
SexyButt McDanger
Registered: 03/12/02
Posts: 23,662
Loc: Red Panda Village
Last seen: 1 hour, 45 minutes
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8291230 - 04/16/08 10:44 AM (4 years, 1 month ago) |
|
|
Quote:
Yossarian22 said:
Because everyone benefits from mass transportation, including those that don't use it. As I said, it makes the roads less congested, saving you gas and time, decreases pollution, encourages commerce(making it easier to get around means increased traffic flow; if everyone who wanted to go to Manhattan had to drive, people in the environs would visit a lot less often for instance) and has other tangential benefits(reduces car-related accidents, helps reduce drunk driving by providing an alternative to automobiles, etc.) The truth is, having an effective and affordable public transportation system makes life a lot easier and better. Of course I don't hope to convince a bunch of libertarians in anything dependent upon communal benefit, but at least I tried.
Quote:
...and the second objective isn't going to happen as long as we stay in Iraq
Why is one form of communal benefit to be strived for, while another one (American presence in Iraq) not?
--------------------
If I should die this very moment
I wouldn't fear
For I've never known completeness
Like being here
Wrapped in the warmth of you
Loving every breath of you
|
mick
living in perverty
Registered: 07/06/04
Posts: 6,691
Loc: hb, cali
Last seen: 14 hours, 37 minutes
|
Re: McCain calls for summer-long suspension of gas tax [Re: fireworks_god]
#8291293 - 04/16/08 11:07 AM (4 years, 1 month ago) |
|
|
What worries me about this gas tax suspension McCain is talking about is that it is going to give consumers the illusion that gas prices have taken a dive, when this is not the case.
Gas prices will continue to rise... So this cut will take prices down 18 to 20 cents per gallon, then at the end of summer this tax will go back on top of gas prices which will compound with their consistent increase in prices.
Gas will suddenly jump from $3.39 to $4.19, and people will be shocked.
--------------------
http://kittiesntitties.tumblr.com/
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "
ChrisWho said: "It's all about the journey, not the destination."
|
supernovasky
Comrade
Registered: 01/10/08
Posts: 8,394
Loc: Louisiana
Last seen: 3 hours, 39 minutes
|
Re: McCain calls for summer-long suspension of gas tax [Re: mick]
#8291311 - 04/16/08 11:11 AM (4 years, 1 month ago) |
|
|
meh
Edited by supernovasky (05/17/10 02:55 PM)
|
Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 23,193
Loc: Caribbean
Last seen: 20 hours, 1 minute
|
Re: McCain calls for summer-long suspension of gas tax [Re: Yossarian22]
#8291315 - 04/16/08 11:12 AM (4 years, 1 month ago) |
|
|
> Foreign aid accounts for less than 1 percent of the US government's budget
The US governments budget is friggin HUGE. I would much rather see 1% of the US budget go to US citizens rather than to foreigners and illegal aliens.
--------------------
Just another spore in the wind.
|
Yossarian22
Stranger
Registered: 09/12/07
Posts: 415
Last seen: 1 year, 2 months
|
Re: McCain calls for summer-long suspension of gas tax [Re: Seuss]
#8291905 - 04/16/08 02:31 PM (4 years, 1 month ago) |
|
|
Quote:
Why is one form of communal benefit to be strived for, while another one (American presence in Iraq) not?
What communal benefit are you talking about here, exactly? Destroying our military? Weakening our economy? Lowering our standing and weakening our diplomatic power? Unless you count 'terrorists' and 'Islamic extremists' as the community, I don't see any communal benefit from the war.
|
|
Previous
Index
Next
Threaded
Edit 
Reply 
