Politics vs. Economics: The Summer Gas Tax Break and the 3 Candidates

Sorry for the double post, but I never claimed to have an MBA.

I am just a lawyer who represents people everyday, and I have to analyze their budget. At current gas prices, most people I have consulted with have cut their driving to the bare minimum. A further increase in gas prices will not change the fact that they have to get to and from work.

 

No, I'm simply highlighting the benefits of your NBA degree on the BBS. Your argument contradicted itself.

What does The_Conquistador, master of economics and sexual healing believe? I believe over the short term demand for gasoline is inelastic. Over the long-term, it is less so, as you are able to make structural changes to your lifestyle. These changes take time. So in the long run, $4.00 gas will reduce demand meaningfully. In the short term the impact will be less visible.

 

Snicker. Looks like you didn't get the joke. Gigem

 

You and I differ on what is lifestyle and what is necessity. Maybe going to work everyday is a lifestyle for you, the self avowed independently wealthy, Rockerfeller type. For the multitudes of the rest of us, it is a necessity, rather than a changeable lifestyle.

Assuming that your premise is true, people will need to have the ability to endure the short term to get to the long term.

Do you ever get tired of being a complete ass?

 

This somewhat happened in the late 70s when people started buying Japanese cars as a result of oil embargoes and 55 mph speed limits.

I'm not sure if people will undergo a similar leap with hybrids and super efficient diesel engines unless they're forced to.

My guess is that some new disruptive technology will facilitate this process (cheap biodiesel/solar/new engine/etc) rather than flocking to the existing unpopular models out right now.

 

Obama has far more experience as a legislator than Clinton and has introduced/co-sponsored more bills and seen more pass (if you take away all the ones about renaming a building or honoring someone). And this is 2 years in the senante to hillary's 8.

BUt don't discount his 8 years in the senate. Frankly, Hillary as a ny senator was a failure and i truly hope when she loses this thing she doen't return.

Maybe she can take obama's spot since she's really from Illinois.

 

An MBA is not the same as a Masters in Economics.

Anyway, you're forgetting that demand may be more elastic then you think. Car Pooling is always an option. Additionally, people will most likely work from home (telecummute) at a higher rate as well. Additionally, people cut back on auto leisure travel and drive less overall. Less trips to grandma's. So there's some elasticity for you.

There's a perfect storm driving fuel prices - from supply issues to a weak dollar to refinery capacity. But one thing is for sure - there is only one way to truly lower it's price.

To decrease demand for oil. And that means everything from hybrid to nuclear technology. Everything from higher fuel efficiency standards to to changing the way we work.

 

I haven't been an Obama supporter thus far, but this might change my mind. It shows maturity and a propensity for rational thinking to learn from past mistakes(thanks T_J!).

I'm disappointed in both Clinton and McCain for their completely ass-backwards thinking here. An increase in gas taxes is really what we need to combat oil dependence and to stimulate investment in alternatives. I can't help but lament the fact that nobody's talking about that.

 

dude this economics 101

It is somewhat inelastic in the short term and elastic in the long term.

short term you just make less unneeded trips

Long term i will probably change:
Jobs, apartment/house, car,

if gas goes up or down. If gas has been very expensive it will affect these decisions. i will get a house and job closer, car with with mpg's etc. it is also very possible that in the very long term companies will begin to allow more people to work from home, or more public transports will be available etc.



i don't even have an NBA and I knew this.

 

This idea is the brainchild of mere politics. As such, it's completely assinine.

Why can't politicians ever think of something more than "let's give people money?"

It's not like people don't know that it's tax money. That its adding to our debt, and that its NOT A SOLUTION.

This idea is just flabbergastingly dumb.

 

I'm surprised so many of you see this vulgar pandering for what it really is. Unfortunately, I think it will play well in Indiana and North Carolina and buy Hillary some votes.

 

2nd person who hasn't gotten the joke. Is this the forum for Derek Zoolander's Center For Kids Who Can't Read Good?

MAGNUM

 

What does this say about Hillary with her 75 years of experience and still taking the American people like you for fools? She only get's away with it because she is correct about a few of you. I expect this out of McCain for some strange reason, but it’s a shame how far Hillary will sell her so to get in the white house.


It’s not like she doesn’t know any better she is a very smart women, but this shows the kind of pranks she will pull on day one if she get into office.

 

Obama Responds to Misleading Clinton Attack Ad with "Truth"



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So basically tater j is making the case that even with McCain's decades of additional experience, he's too dumb to learn from it.

 

BINGO! Seems like common sense to me.... But what do I know? Suspending the gas tax is stupid, just another band aid over a wound thats starting to get infected.

 

its really astonishing the level of hypocrisy. i can't wait till mccain starts to get picked apart in the general.

 

Thank you Barack....

Oh yeah, you too Rocket3forlife2...

 

Good ad. I wonder if it will work. I think a lot of people will go for the $.18c per gallon or $30 gas tax rebate gallon rebate not trusting that anything can be done about gas prices.

The American people often fall for such gimmicks especially if it leads to minor tax deductions.