McCain-Clinton 'Gas Tax Holiday Plan' will make BILLIONS for Oil Companies

[npincus]

A pnones plan... multimillionair elitist candidates throuwing us poor gas consumers a bone, not solving our poblem but making their rich buddies even richer. Birds of a feather...


http://www.bloomberg.com/apps/news?pid=20601087&sid=aQgAcP5he5WA&refer=home

May 2 (Bloomberg) -- Hillary Clinton and John McCain are both pushing a ``gas-tax holiday'' to give consumers an 18.4- cent-a-gallon price break. Clinton says the plan will take excess profits from oil companies. McCain says it will help families buy school supplies.

Economists have a different take: They say the oil companies may end up the biggest beneficiaries, while the aid to families wouldn't be enough to buy a $35 backpack.

The trouble with the plan, they say, is that oil prices are rising because of low supplies, and companies will continue to charge the average $3.60 a gallon and just pocket the money that would have gone to federal taxes.

``That's $10 billion, and it's going into the pockets of oil refiners,'' said Leonard Burman of the Tax Policy Center in Washington. ``The last time I checked, they didn't need it.''

Supplies are ``being cleared at the current price,'' said Donald Parsons, an economics professor at George Washington University in Washington. ``If you take away the tax, you'll have the same number of consumers willing to buy the gas at the same total price.''

[PATRICK]

1. The pattern for food relief

may be the same. The reason for Bush's "aid" package to food rioting countries. Pacify the wretched food distribution system and the ethanol con game can continue. Most of all that money will go directly to the price gouging and I wouldn't be surprised if Monsanto got its direct hands on it in a number of pre-planned ways that will do little for the starving while they profiteer.

Aid, rebates and relief are a cash bonus to the people perpetuating, causing and exploiting avoidable problems. The tax rebate("rebate": a blatant but successful marketing con notion for recycling your own money away from you at the front end) exposes your refund check to narrow time window of vulnerable cash already attacked aggressive ive, conveniently, coincidentally by lenders, food suppliers, oil barons, etc.

Forget enticements to buy. You are being re-taxed on your refunds to make them disappear into pockets of the favored fascists of the day.