McCain and the gas tax

This week John McCain once again displayed his economic ignorance by espousing a suspension of the federal gas tax during the summer driving season.  Why is this ignorance?  Because if anything good were to come out of the recent surge in oil prices it’s that perhaps Americans will finally recognize the need for alternative energy sources, including domestic exploration, which by the way is opposed by McCain.  By letting the market work and weaning folks off oil, which would reduce demand, and thereby the price of oil and gasoline the country may finally get serious about finding new energy sources.  Senator McCain was correct when he said he didn’t understand economics very well.  Heaven help us if he were elected president.

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