Let’s Raise Gas Taxes And Lower Income Taxes

    300

    Now that the $100 tax rebate proposed by the Senate Republican leadership as a response to rising gasoline prices has been discarded, it is time to get serious. Any effective response to climbing gas prices must recognize a geological reality, namely that the earth’s oil reserves are shrinking.

    The amount of oil pumped has exceeded new discoveries since 1980. And the gap is widening. In 2004, for example, the world pumped nearly 31 billion barrels of oil while discovering fewer than 8 billion barrels of new oil.

    Instead of encouraging gasoline use with tax rebates or gas tax holidays, we need a way to reduce gasoline use, one that is practical and politically acceptable. We need a higher gas tax, but the only way to get a gas tax rise large enough to wean us from imported oil is to offset the rise with a reduction in the tax on income.

    The gas tax boost should be substantial – a rise that will send a strong, clear signal to consumers – and it should be gradually phased in. A gasoline tax hike of 30

    The Edge Partner Directory is your resource for festivals, classes, products and services
    Previous articleNew Organization Offers Voters An Answer To Partisan Paralysis
    Next articleElements of successful family life
    Lester Brown
    Lester R. Brown is president of the Earth Policy Institute and author of Plan B 2.0: Rescuing A Planet under Stress and a Civilization in Trouble. Plan B 2.0 is available online for purchase or free downloading at www.earthpolicy.org/Books/PB2/index.htm. Visit the Earth Policy online at www.earthpolicy.org Copyright © 2006 Lester R. Brown. All rights reserved.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.