Creative Destruction

April 27, 2006

Got Rebate?

Filed under: Economics — Off Colfax @ 10:53 pm

For some reason, I find this highly unlikely.

“Our plan would give taxpayers a hundred dollar gas tax holiday rebate check to help ease the pain that they’re feeling at the pump,” Senate Majority Leader Bill Frist announced Thursday.

“It also includes strong federal anti-price gouging protection to protect consumers against anti-competitive behavior by oil companies or other suppliers of gasoline. Our free market system works, but it works best when there’s full accountability and full transparency.”

Frist said the rebates would go to single taxpayers making less than $125,000 per year, and couples making less than $150,000.

Sorry, folks. I know that extra hundred bucks would feel pretty good right now, particularly in the run-up to summer, but I highly doubt this will get out of committee in time to do any significant good for those of us at the pumps.

Oh, and who is to say that we even have to pay for gas directly, either? I haven’t had my own vehicle since I moved to Colorado in 2001, and my last job, one that required fairly significant driving, had the company picking up the gasoline bills. So the only real effects I, and quite a few others living in metropolitan areas with significant public transportation systems, feel from the gas hike here in the States is a little bit higher price for just about everything else.

But, according to the good Dr. Frist, everyone that makes under 125K per annum will qualify.

It’s like an income tax refund 9 months early! Teh sweet!

Of course, they will push other, less palatable, things in with the relief check. (coughANWRcough) That goes without saying. The only problem I see is whether or not those of us in the left-hand-turn-only lane of politics will be able to slip in some positives for our side as well.

Personally, I’d say removal of all tax incentives for purchasing and/or owning one of those abominations called Sport Utility Vehicles would be a good start. I swear, everyone and their mother seems to have owned one of these things, at least in suburbia, just to transport a family of four (plus canine) to the mall and back.

That is one of the issues that drives up demand for gasoline. And for all this talk about the supply curve for petrochemicals, I have yet to hear much about the demand side of the equation.

[Turn signal: Kevin Drum]

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6 Comments »

  1. Why would you want to discourage people from using lots of gas?

    Comment by Robert — April 28, 2006 @ 11:24 am | Reply

  2. Robert: Why would you want to discourage people from using lots of gas?

    Conservation of finite energy resources extends the lifespan of those resources for later generations. Probably goes against the grain of the live-for-the-moment crowd.

    Comment by Brutus — April 28, 2006 @ 12:35 pm | Reply

  3. Conservation of finite energy resources extends the lifespan of those resources for later generations.

    So you want later generations to be using the same hydrocarbon-burning technologies that we use today?

    Comment by Robert — April 28, 2006 @ 1:06 pm | Reply

  4. 100 dollars in exchange for my life dying in an Israeli “Chosen people’s” war. Gee, thanks Bushstien. 20,000 American lives ruined so (CEOs) can make a few shekles.

    Comment by Justice for Palestine — April 28, 2006 @ 1:25 pm | Reply

  5. JFP:

    Jewish culture is a foundation stone of Judeo-Christian civilization, which is intrinsically superior to Arab culture and civilization. It’s well worth the sacrifice in blood and treasure to buttress Israel, a beacon of light in the world, as an ally against the barbaric parasites that besiege the West.

    If $100 will buy your life, drop me an email with your postal address and I’ll get you a money order.

    Comment by Robert — April 28, 2006 @ 4:09 pm | Reply

  6. Conservation of finite energy resources extends the lifespan of those resources for later generations.

    So you want later generations to be using the same hydrocarbon-burning technologies that we use today?

    I didn’t see him say anything about burning hydrocarbons, only that they are finite resources. Who knows to what use future generation and future technologies might put them?

    Comment by Daran — May 1, 2006 @ 5:31 pm | Reply


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