Future Gas Tax

Posted By: Dr. Frugal in Taxes on 01/18/2008 at 06:30:46

A special commission has suggested to the US government they should raise the federal tax on gas by as much as 40 cents per gallon over the next five years. Currently we're taxed 18.4 cents a gallon.

Personally, I'm ok with that. As I've said countless times, I take public transportation to work and the only time the whole family piles into the van is when we're off to visit grandparents--maybe once a month. I don't mind a little more at the pump to defend my right to drive. Although I do consider driving a "right", I certainly understand that even rights come with regulations and I have to pay for it

The gas tax hasn't been raised since 1993 and I now is as good a time as any to jack it up there. Coupled with the weakening dollar, this 40 cent raise in the gas tax would barely even dent the economy of last year and if the dollar continues to fall then it probably will be about "break even" when it's all said and done.

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