Wednesday - April 26, 2006

Democrats Propose Smoke And Mirrors

It took me a few seconds to figure out this latest attempt by the Donks to sucker us once again. They propose to remove the federal gas tax (18.4 cents per gallon) for sixty days to “relieve our pain at the pump”. They also propose to make up the difference in tax revenue by raising taxes on Exxon and all the other gas suppliers. Now, what’s to stop Exxon from just raising their gas prices by 18.4 cents per gallon to make up for the increased taxes? This is typical Donk bulls**t, all smoke and mirrors. And as usual, we, the people get screwed in the end.

Dems Offer 60-Day Gas Tax Break
_{April 25, 2006}

(CNSNews.com) - On the same day that President Bush announced he would suspend deposits to the Strategic Petroleum Reserve, Democrats unveiled a plan of their own Tuesday designed to give consumers a break from high gas prices by offering drivers a 60-day holiday from the federal gas tax.

The Menendez Federal Gas Tax Holiday Amendment, an amendment to the Supplemental Appropriations Bill being considered by the Senate, will remove the 18.4 cents per gallon federal tax on gasoline and the 24.4 cents per gallon federal tax on diesel fuel for 60 days.

“Last year, the big oil companies hiked gas prices and blamed an act of God, but it’s crystal clear that the current spike in gas prices is at least partly due to an act of greed,” said Sen. Bob Menendez (D-N.J.) in a statement.

“We must provide American families immediate relief by suspending the federal gas tax for 60 days and making up for the lost revenue by getting rid of some unnecessary tax giveaways to oil and gas companies,” Menendez said.

Menendez’s plan will be paid for by repealing over $6 million in tax breaks to the oil industry. It is estimated to provide $100 million a day in relief directly to consumers.

In addition, the Democrats promise that the Highway Trust Fund will not be affected by their gas relief plan. Money collected by reducing the oil industry’s tax breaks will be transferred to the Highway Trust Fund in an amount equal to the revenues lost through the federal tax holiday, they said. The trust fund will still collect money needed to continue all currently planned and funded projects.

- More on this story at CNS News...

Posted by Ronald Reagan's Ghost     on 04/26/2006 at 08:07 AM   
Filed Under: • Democrats-Liberals-Moonbat Leftists • Economics •  
• Comments (11) • Trackbacks(0)  Permalink •  

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