Obama's Right

When it comes to the hotly debated summer suspension of the federal gasoline tax, I definitely align with Obama's position on the issue. I think it is very foolish to forgo tax revenue directed towards infrastructure (which we already under-invest in as a country) when we are already running huge deficits for a negligible, temporary benefit. At an idealogical level, I have an even bigger issue with Clinton's proposal than McCain's.

I'm sure this puts me in an unpopular minority, but I don't think it's the responsibility of big oil companies to pay my taxes for me. I'm the one driving on the roads and bridges that have to be built and repaired, and I'm the one pouring CO2 emissions into the environment, so I should be the one who has to pay for it. I don't understand the argument that says that big oil companies are making a lot of money so they should have to pay my taxes. Is it Starbuck's responsibility to pay your sales tax on your coffee because they make a lot of money? Is it The Gap's responsibility to pay your sales tax on your clothes because they make a lot of money? Guess what? The last time I checked, ExxonMobil was not registered as a non-profit charity. They are providing a product that I need and want, they are the ones who bore the risk when oil was trading at $12 a barrel so they should receive their economic reward when oil is trading at $112 a barrel. If you want in on that action, all you have to do is buy their stock and you become a part owner of the company and get your share of those profits. That's how capitalism works.

There's a sad irony to this whole debate. Everyone is up in arms over a tax that costs a grand total of $.18/gallon (or for me about $7/month), but there has not been any discussion this election over social security which is going to go bankrupt soon and costs hundreds of dollars a month. Maybe we need to do a little better job prioritizing our political battles.