Gasoline Rebates

The latest Republican quick fix scheme is apparently to write everyone a $100 check as a "rebate" for the high gasoline pump prices they're paying. It should be immediately obvious that this idea would be daft on its face even if we weren't running enormous fiscal budget deficits. Unlike the tax surplus "rebates" handed out a few years back, this is money that will come directly out of the Treasury general fund and have to be offset by reduced spending on other priorities. Since Bush has flatly rejected punitive taxes on the energy industry, you can't even try to justify it by claiming that it's a redistribution of wealth from price gougers back to the public. It's just a stealth one-time tax cut. Moreover, it's far too small to cover the difference between what people are paying and what politicians glibly claim they should have to pay, while at the same time will only serve to reinforce demand and drive actual prices higher still. So, worse than useless on all fronts.

Should this laughable thing actually pass, I plan to endorse my check over to the DFL.

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This page contains a single entry by Milligan published on April 30, 2006 9:13 AM.

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