http://blogs.marketwatch.com/electi...gests-u-s-should-adopt-1-33-a-gallon-gas-tax/
IMF paper suggests U.S. should adopt $1.33-a-gallon gas tax
March 28, 2013, 2:57 PM
The International Monetary Fund was out with a highly-publicized research paper arguing for fewer energy subsidies, in the sort of paper only economists shielded from the political process can offer.
By the IMF’s tally, some $1.9 trillion worth of energy subsidies are offered worldwide.
Who can argue against fewer subsidies? Well, many people, once they see the alternatives. The IMF for instance, on page 44, cites studies showing the U.S. should introduce a “corrective” tax of 36 cents per liter. The extra money would curb congestion, reduce accidents and help reduce carbon emissions. Those are all good-sounding things and the tax doesn’t sound like much in metric.
Problem is, that works out to about $1.33 a gallon – or one-third of what consumers now pay for a gallon of gas. And Americans already pay roughly 50 cents a gallon in taxes to federal and state governments, according to the Web site GasPriceWatch.
Good luck with trying to raise gas prices by another 33%. These fees are about as popular with the public as a skunk at a picnic. As recently as Saturday, the Senate voted 58-to-41 against an amendment that suggested an unspecified carbon tax of unspecified nature.
– Steve Goldstein
Follow Political Watch on Twitter @mktwpolitics
Follow Steve @mktwgoldstein
IMF paper suggests U.S. should adopt $1.33-a-gallon gas tax
March 28, 2013, 2:57 PM
The International Monetary Fund was out with a highly-publicized research paper arguing for fewer energy subsidies, in the sort of paper only economists shielded from the political process can offer.
By the IMF’s tally, some $1.9 trillion worth of energy subsidies are offered worldwide.
Who can argue against fewer subsidies? Well, many people, once they see the alternatives. The IMF for instance, on page 44, cites studies showing the U.S. should introduce a “corrective” tax of 36 cents per liter. The extra money would curb congestion, reduce accidents and help reduce carbon emissions. Those are all good-sounding things and the tax doesn’t sound like much in metric.
Problem is, that works out to about $1.33 a gallon – or one-third of what consumers now pay for a gallon of gas. And Americans already pay roughly 50 cents a gallon in taxes to federal and state governments, according to the Web site GasPriceWatch.
Good luck with trying to raise gas prices by another 33%. These fees are about as popular with the public as a skunk at a picnic. As recently as Saturday, the Senate voted 58-to-41 against an amendment that suggested an unspecified carbon tax of unspecified nature.
– Steve Goldstein
Follow Political Watch on Twitter @mktwpolitics
Follow Steve @mktwgoldstein
