Wasn’t it Barack Obama who said that John McCain’s proposal to suspend the federal tax on gasoline was only a “gimmick”? From the AP:
Obama proposes $1,000 energy rebates for consumers
Democratic presidential candidate Barack Obama on Friday called for a $1,000 “emergency” rebate to consumers to offset soaring energy costs amid fresh signs of a struggling economy with the nation’s unemployment rate climbing to a four-year high.
Obama told a town-hall meeting the rebate would be financed with a windfall profits tax on the oil industry.
“This rebate will be enough to offset the increased cost of gas for a working family over the next four months,” Obama said in the crucial swing state of Florida.
But would it be enough to offset the increased cost due to the stupid “windfall profits tax”?
So simply lowering the per-gallon price at the pump by suspending the tax is a gimmick, but raising the cost at the producer level with a higher tax, then offsetting the higher price that will cause at the pump by sending checks to people, is not a gimmick? Obama must really believe all those bitter Americans are suckers.
Ed Morrissey at Hot Air has another good point: “…the rebates will only give us a one-time relief for the high gas prices, while the new tax will raise the cost of production and delivery for years.”