Gas Tax Holiday

UPDATE: I'm thinking out loud here, but doesn't this picture belong in Rep. Menendez's press release?


I like Menendez's proposal here. It's pretty clever. First though, if it works for oil, would it work for say... cars? How about diamond engagement rings? I know, totally different tax scheme, but that begs the point. Everyone will like this. But won't they always like it then? Can we add, along with a gas tax holiday, perhaps a more simple tax code? One slightly less "progressive" than the one we see today? Anyway, cheers to Bob for not being afraid to buck the "tax tax, spend spend, elect elect" status quo. If only we could have him break the borrow borrow status quo as well.

One more point, ending the LIFO accounting break is long overdue, and should be universally applied. Tricks like that cost average investors billions of dollars a year, and it becomes an even bigger problem after our fearsome CEOs drive their piggybanks into the ground.