Reply #16: Sorry, not trying to be snide, but [View All]

[Frank Booth]

I think it is important that it would go down to defeat. It shows that Hillary's proposing this just to score political points rather than to actually help consumers.

I think my second point about gas companies just raising their prices is more valid though, and it's why the economists don't even mention the windfall tax. People are clearly willing to pay $4 per gallon. The oil companies know that, and they'll just raise the price at the pump to account for the fact that consumers don't have to pay the tax. That's why the letter says "research shows that waiving the gas tax would generate major profits for oil companies rather than significantly lowering prices for consumers."