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Makes no sense to me
2 months ago  ::  Jun 22, 2022 - 8:48AM #1
newinn
Posts: 38,598

if the goal is to stop inflation ( common sense told me this would be a problem 6 months ago) why would Biden and the states give a gas tax holiday? Seems to me, and I've been wrong before, but the gov't has to stop pumping money into the economy now. Money that is distributed from the gov't needs to be far more targeted just like it should have been targeted during the pandemic. 



There is a time to pump money into the economy and there is a time to tighten our belts. If inflation is caused by too much money chasing too few goods I would think we need to take some disposible income out of the economy not add to it

2 months ago  ::  Jun 22, 2022 - 8:53AM #2
bertram
Posts: 17,474

Jun 22, 2022 -- 8:48AM, newinn wrote:


if the goal is to stop inflation ( common sense told me this would be a problem 6 months ago) why would Biden and the states give a gas tax holiday? Seems to me, and I've been wrong before, but the gov't has to stop pumping money into the economy now. Money that is distributed from the gov't needs to be far more targeted just like it should have been targeted during the pandemic. 



There is a time to pump money into the economy and there is a time to tighten our belts. If inflation is caused by too much money chasing too few goods I would think we need to take some disposible income out of the economy not add to it




That money is targeted.  It is different than giving out checks, the proceeds of which people can spend on anything.  You have to buy gas, an essential commodity for workers, to get the benefit.  For the vast majority of Americans, any side benefits of lower gas prices (if you can call it "lower") will be more money to spend on other essentials...like food, rent, etc.

2 months ago  ::  Jun 22, 2022 - 9:13AM #3
newinn
Posts: 38,598

I'm renting a house that is 40 minutes away from a new construction house that will be completed next week. We were driving up to the house at least twice a week and usually three times a week to follow the construction. The past 3 or 4 weeks we go once a week or every other week.


If the gov't gives gas cards to lower income people that are working or have a reason they don't work, I'm fine with that. I don't know the threshold but reducing gas prices for everyone while trying to fight inflation makes little sense to me. I read last week that gas usage in the country is down 2% already.

2 months ago  ::  Jun 22, 2022 - 9:16AM #4
bertram
Posts: 17,474

Jun 22, 2022 -- 9:13AM, newinn wrote:


I'm renting a house that is 40 minutes away from a new construction house that will be completed next week. We were driving up to the house at least twice a week and usually three times a week to follow the construction. The past 3 or 4 weeks we go once a week or every other week.


If the gov't gives gas cards to lower income people that are working or have a reason they don't work, I'm fine with that. I don't know the threshold but reducing gas prices for everyone while trying to fight inflation makes little sense to me. I read last week that gas usage in the country is down 2% already.




I am building a lake place now.  Fortunately, I found a lot only 5 miles away from my current digs.  Can't imagine having to pay for long commutes at these prices.

2 months ago  ::  Jun 22, 2022 - 9:21AM #5
newinn
Posts: 38,598

Jun 22, 2022 -- 9:16AM, bertram wrote:


Jun 22, 2022 -- 9:13AM, newinn wrote:


I'm renting a house that is 40 minutes away from a new construction house that will be completed next week. We were driving up to the house at least twice a week and usually three times a week to follow the construction. The past 3 or 4 weeks we go once a week or every other week.


If the gov't gives gas cards to lower income people that are working or have a reason they don't work, I'm fine with that. I don't know the threshold but reducing gas prices for everyone while trying to fight inflation makes little sense to me. I read last week that gas usage in the country is down 2% already.




I am building a lake place now.  Fortunately, I found a lot only 5 miles away from my current digs.  Can't imagine having to pay for long commutes at these prices.




Understood and agree. So we don't. I just don't understand continuing to raise interest rates and then giving gas tax holidays. That seems to be working both sides against the middle

2 months ago  ::  Jun 22, 2022 - 9:40AM #6
bertram
Posts: 17,474

IMO, we are facing too much greed-fueled inflation artificially conjured up by corporations who are gouging customers because they can.  The fossil fuel companies are a prime example.  Biden is right about them, as their own corporate profits reports confirm.  Over-tightening money supplies is a knee-jerk reaction that could cause even more problems.  That is what happened when Reagan insisted on doing so in the 1980's.  Family farms, manufacturing and main street businesses went under in droves because they couldn't get affordable financing.  Automakers and dealers are also complicit in the price gouging, and affordable housing is becoming a thing of the past.

2 months ago  ::  Jun 22, 2022 - 11:54AM #7
prof. quiz
Posts: 10,755

I just checked the global prices of gasoline. The price of gas is all over the place. Venezuela has the cheapest fuel, $0.084 per gallon while Hong Kong averages $11.351! We average $5.191.


Check it out for yourselves if you are interested. Just make sure you adjust the list for US dolars and gallons.


www.globalpetrolprices.com/gasoline_pric...


It looks like there are about 200 countries listed with the US at the 40% mark.


The GOP seems pretty foolish blaming Biden and the Ds for these crazy price swings. Compared to Europe and especially the Scandinavian countries our fuel prices are not so bad. They had been artificially low for years until the Arabs wisened up in the 70s, booted us off their lands and took back control of their oil fields.


Big oil right here at home is gouging us while they can. And as long as they continue to buy favorable legislation from both camps nothing will change. I guess they realize the end is near with the electrification of our motor vehicle fleet well under way.


2 months ago  ::  Jun 22, 2022 - 12:00PM #8
SSBob
Posts: 11,088

Jun 22, 2022 -- 8:48AM, newinn wrote:


if the goal is to stop inflation ( common sense told me this would be a problem 6 months ago) why would Biden and the states give a gas tax holiday? Seems to me, and I've been wrong before, but the gov't has to stop pumping money into the economy now. Money that is distributed from the gov't needs to be far more targeted just like it should have been targeted during the pandemic. 



There is a time to pump money into the economy and there is a time to tighten our belts. If inflation is caused by too much money chasing too few goods I would think we need to take some disposible income out of the economy not add to it




~~~~~~~~~~~~~~~~


Rather than looking at the big picture, many (most?) people focus on their immediate, often selfish, concerns. Right now that happens to be the price of gas, for which they blame the Biden administration, which has no control over the price of gas other than the federal gas tax. 


You're right in that a tax holiday is probably not the right thing to do long-term, but since much of the American public has the attention span of a mosquito, it's probably the right thing to do politically.

2 months ago  ::  Jun 22, 2022 - 12:52PM #9
Max
Posts: 10,405

Jun 22, 2022 -- 8:48AM, newinn wrote:


if the goal is to stop inflation ( common sense told me this would be a problem 6 months ago) why would Biden and the states give a gas tax holiday? Seems to me, and I've been wrong before, but the gov't has to stop pumping money into the economy now. Money that is distributed from the gov't needs to be far more targeted just like it should have been targeted during the pandemic. 



There is a time to pump money into the economy and there is a time to tighten our belts. If inflation is caused by too much money chasing too few goods I would think we need to take some disposible income out of the economy not add to it




My only guess is lowing gas prices would lower the price of other goods. If that's not the reason, then I don't understand having a gas holiday either. lol

2 months ago  ::  Jun 22, 2022 - 1:03PM #10
SSBob
Posts: 11,088

Jun 22, 2022 -- 12:52PM, Max wrote:


Jun 22, 2022 -- 8:48AM, newinn wrote:


if the goal is to stop inflation ( common sense told me this would be a problem 6 months ago) why would Biden and the states give a gas tax holiday? Seems to me, and I've been wrong before, but the gov't has to stop pumping money into the economy now. Money that is distributed from the gov't needs to be far more targeted just like it should have been targeted during the pandemic. 



There is a time to pump money into the economy and there is a time to tighten our belts. If inflation is caused by too much money chasing too few goods I would think we need to take some disposible income out of the economy not add to it




My only guess is lowing gas prices would lower the price of other goods. If that's not the reason, then I don't understand having a gas holiday either. lol




~~~~~~~~~~~~~~~~~


The complaint has been that higher gas prices have made it harder for some to acquire necessities. Doesn't sound like consumers will spend whatever they save on gas on luxuries.

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