$100 gas vouchers for all
The latest from D.C. on how to deal with gas prices:
Most American taxpayers would get $100 rebate checks to offset the pain of higher pump prices for gasoline, under an amendment Senate Republicans hope to bring to a vote Thursday."Our plan would give taxpayers a hundred dollar gas tax holiday rebate check to help ease the pain that they're feeling at the pump," Senate Majority Leader Bill Frist announced Thursday. "It also includes strong federal anti-price gouging protection to protect consumers against anti-competitive behavior by oil companies or other suppliers of gasoline. Our free market system works, but it works best when there's full accountability and full transparency."
I am speechless.
Comments (21)
Yancey Ward
Well, I am not speechless. These people are complete and utter morons.
Published: April 27, 2006 2:27 PM
David J. Heinrich
While a tax rebate and "price gouging" controls are atrocious, I'd be all for a $100 non-refundable tax credit (as in, reduces tax bill by $100, down to, but not below, $0).
Published: April 27, 2006 2:31 PM
Manuel Lora
A tax credit is an island of monetary freedom, so the more we have the better. Yay for loopholes too.
Published: April 27, 2006 2:33 PM
George Gaskell
Free markets, huh?
He keeps using that term.
I don't think it means what he thinks it means.
Published: April 27, 2006 2:51 PM
Roger M
The feds would have to borrow more money to pay for the rebates. We, or our children, will have to pay the money back some day in higher taxes. Here's an idea: Abolish DOE and use the savings for the tax rebates!
Published: April 27, 2006 2:53 PM
M E Hoffer
If they were delivered by Helicopter, it'd be perfect.......
There's all kinds of talk about lowering the Federal Excise Tax and various Steat Gasoline Taxes, as well...which of these entities are currently operating Surpluses?
Right, yet more deficit spending to be papered over( all of us )...
Here's to reinforcing those most powerful canards: The Gov't, it's ownself, has "money" & It's here to Help.
Published: April 27, 2006 2:59 PM
SurferDude
How I will spend my gas rebate check and what it will cost you.
20 bucks worth of tequila
50 bucks on illicit drugs ( a few bowls of Columbian perhaps)
30 bucks of double deuces
Get "caught" by the man.
30,000 for the man to prosecute me
50,000 for the man to double check prosecuting me
90,000 for some kind of incarceration
150,000 for rehab by the man
AND another 100 bucks when I get out!
guess how I will spend it!
Published: April 27, 2006 3:42 PM
quincunx
Yay. We get to make our own shackles, how wonderful. Idiots.
Published: April 27, 2006 3:57 PM
TokyoTom
This is vote purchasing by the Republicans, plain and simple. The proposal makes them look "compassionate", is attractive to the average voter, and papers over the fact that high prices are due to government interference in the market, including fighting and threatening wars overseas. We need less market intervention, and more refining capacity.
Published: April 27, 2006 9:03 PM
Ryan Fuller
Gasoline: the new bread and circuses.
Published: April 27, 2006 10:38 PM
Walt D.
David:
Since the government has no money, where do you think it is going to get the money to send everyone a check for $100? The government can at best give you money it has taken away for someone
else - i.e. income redistribution. Or it can print some more fiat money, which essentially devalues every dollar everyone has. Or it can issue more debt, to be funded by future taxation.
Excuse me while I run down to the post office and mail myself a check for $100.
Published: April 27, 2006 11:39 PM
Chris Meisenzahl
Walt D. has the exact same thought I do. They took the money from us to begin with!!! ;-)
Published: April 28, 2006 12:33 AM
Ryan Fuller
Oh, but now they're giving a little bit of it back! See, they apparently have the right to take as much as they want, but they have no obligation to give any back. They could repeat this process a hundred times and their benevolence would grow each time.
It is evidence of an absurd moral calculus at work that more people aren't furious about this. Not only are they giving people money that already belongs to them in the first place, they are incurring administrative costs at the same time. There is zero benefit to be had from this, but there are costs. That makes the cost/benefit ratio infinite. If I thought that was a good deal, next I'd poke myself in the eye with a stick.
Published: April 28, 2006 1:58 AM
George Gaskell
... but when you stopped poking yourself in the eye quite as often, you could pat yourself on the back for being so generous and benevolent.
Published: April 28, 2006 8:20 AM
Bill
I think it is a wonderful idea. When the government gives money for citizens to pay for something, prices rarely if ever go up. Just look at all of these businesses where tons of government money has caused no increases in prices:
1. Health Care
2. College Education
3. Primary Education
4. Military hardware.
5. Law enforcement
6. Stadium Constuction.
7. Mail delivery.
I guess these fields experienced large amounts of inflation well above the consumer price index.
But GAS will be different because we feel good about it.
Published: April 29, 2006 5:42 PM
Francisco Torres
Bill, good piece of sarcasm :-D
Published: April 29, 2006 10:51 PM
George Gaskell
Don't forget housing. Has government-sponsored easy credit caused any changes in housing prices?
Hmmm ... the house I grew up in cost my father less then $40,000. Thirty years later, the price of that house is only eight times higher. No biggie.
I'm sure government-subsidized gasoline won't cause any price increases, just as price-caps won't cause shortages. Not like they did in the 1970s.
It'll be different this time. Promise.
Published: May 1, 2006 8:11 AM
M E Hoffer
George,
I'll toss in Environmental "Protection" and, through a two-step process, Flood & Earthquake Insurance(s)...and, now that I'm thinking about it, others via the two-step, FDIC & PBGC...
Here's betting there's at least 3 dozen more...
Published: May 1, 2006 9:02 AM
Susan G.
An underlying and criminally sneaky reason for this bill is that they've tacked on a provision to open the Arctic National Wilderness Refuge up for drilling....they are determined to shove this proposal through no matter what. Their plan may backfire, since most people see a $100 credit as being beyond stupid... PLEASE call your Senators to oppose passage of this ridiculous bill!
Published: May 3, 2006 11:36 AM
Bob, The Potter
*cough* Well, not only does this sound like a moronic plan, but one aimed to try and win over some of the lower class. I being one of those lower class (Poor college student with his education being paid for by the government) think this idea is entirely pointless. One hundred dollars would fill up my tank three times with ten bucks left over. Then, I go back to still paying it out of my pocket.
Now lets look at the other aspect. Say that everyone who happened to buy gas, that every single person who got the check bought gas. Where is that money going? Into the pockets of big business. Instead of wasting the money into consumer pockets.
I hear Japan is nice this time of year, and they pay teachers better. (As that's what I want to do with my life) Who's with me?
Published: May 4, 2006 12:55 AM
AD
Should still be looking on the bright side folks. In Europe, they pay 1-2 Euros per liter at the pump and in Japan, expect about 1000-1500 yen per liter. Things could be better for us here stateside, but then again... it could be worse.
Published: May 4, 2006 9:31 AM