Vehicle tax-irs gas mileage deduction
I’m, surprised our vehicle tax IRS gas mileage deduction isn’t higher. As fast as the cost of gas is going up it seems like the irs gas mileage deduction should go up faster. The idea of a federal gas tax moratorium is an idea I consider a good thing. Clinton and McCain think so too. Obama doesn’t.
To me the psychological value of a fed moratorium is worth way more than the cost to the govt or big oil. It’s not the actual value of the gas taxes that matters, it’s the value, psychologically, of keeping prices below a certain price.
Using Senator Obama’s figures the federal gas tax moratorium doesn’t come to much money for the average driver and I 100% agree with that. I could probably even argue that a diesel fuel tax moratorium would probably be better, moneywise, for the economy as it’s selling price is passed on to the price of most food and almost everything else.
Perhaps we need a new gas guzzling tax and that would come directly off of your IRS gas mileage deduction allowance. In this case how much tax is on a gallon of gas doesn’t matter as long as the perceived price can be held down.
If the states lowered their state gas tax or even had a summer moratorium like the Feds are proposing it might even amount to enough to be worthwhile. It could mean some kids will get new clothes for school this fall or more to eat this summer.
Heh, makes me wonder if Senator Obama doesn’t understand the psychology of it or whether not being for it is his version of ‘tough love’. What happens to federal gas taxes doesn’t matter near as much as Americans getting a grip on true reality. Then maybe we have a chance of making progress.
We’ve been spoiled for so long that we think cheap gas is our due. My European friends have told me for years they couldn’t believe the price of gas here. They still can’t because it’s still a buck fifty less than theirs.