McCain on the gas tax

A "retread" is what many are calling McCain's ridiculous suggestion regarding the federal gasoline tax. Besides taking important revenue away from the federal Highway Trust Fund, which finances road projects nationwide and is already in the red, the tax "holiday" from Memorial Day to Labor Day is estimated to save the average family between $23 and $28 - hardly a major stimulus to the economy. Even more importantly, many economists argue that reducing prices simply leads to more gasoline consumption - which increases demand and will ultimately increase prices. It's genius in terms of politics (what could possibly pander more to the average voter?), but it's very bad policy.

Read more at this site:

http://blog.wired.com/cars/2008/04/mccains-gas-tax.html