Monday, June 09, 2008

McCain Still Pushing For Gas Tax Holiday

You'd think that considering how well that worked for Obama's last opponent he'd have dropped the subject by now.

From CNN:

McCain resurrects call for gas tax holiday

WASHINGTON (CNN) – With gas prices reaching a national average of four dollars a gallon — a record high — John McCain is planning to resurrect his call for a national gas tax holiday, which became a staple of his stump speech in late April and early May.

A McCain aide told CNN's Dana Bash on Monday that the Arizona senator planned to plug the gas tax holiday in public statements throughout the day as a message to voters that he understands the plight of working families in a tough economy.

Before a fundraiser in Richmond, Virginia on Monday, McCain mentioned the gas tax holiday in remarks to a smaller event for about 40 high-dollar donors. "That was derided by Sen. Obama and others as a gimmick," McCain said, but added that working people and truckers would appreciate it.

"I don't pretend that it's an answer to our energy problems," he said.

I think Senator McCain needs a crash course in economics. Since the tax money is used to fund infrastructure projects decreasing the amount of spending on them will cost jobs and further erode our transportation system. That is unless one plans on engaging in deficit spending by borrowing money (probably from China) to replace the lost tax revenues. If Senator McCain were playing this smart he'd have his advisers come up with a plan to strengthen the American dollar thereby making gas more affordable. Sure it isn't going to be as sound byte worthy as "twenty extra gallons in every tank" but it would shore up his apparent economic weaknesses which may do more for him in the long run.

Thanks to Center Face for linking to this post.