With gas prices rising politicians in states like Maryland, South Caroloina, Connecticut, Georgia, New York and Nevada are considering reducing or even eliminating their state's gas taxes to ease the burden on the average citizen.
This seems to us like a shortsighted solution designed more to curry favor with voters than actually ease anyone's financial burden. As the article from The Detroit News points out, state and federal gas taxes are levied when retailers buy their gas from distributors, so there's no guarantee those savings would be passed on to consumers instead of just being absorbed by retailers.
Add to that the fact that most state budgets have been operating at or near deficit levels and reducing or eliminating a major source of income seems like an idea that will lead to more potholes and less teachers in public schools.
Check out the article and let us know in the comments whether or not you think repealing state gas taxes is a good idea.
[Source: The Detroit News]
This seems to us like a shortsighted solution designed more to curry favor with voters than actually ease anyone's financial burden. As the article from The Detroit News points out, state and federal gas taxes are levied when retailers buy their gas from distributors, so there's no guarantee those savings would be passed on to consumers instead of just being absorbed by retailers.
Add to that the fact that most state budgets have been operating at or near deficit levels and reducing or eliminating a major source of income seems like an idea that will lead to more potholes and less teachers in public schools.
Check out the article and let us know in the comments whether or not you think repealing state gas taxes is a good idea.
[Source: The Detroit News]
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