Here is a link to an explanation of why we shouldn’t lower the gas tax.
As I noted in my response to the proposal:
If Hillary’s plan is to recoup the taxes by charging the oil companies in a different way, why would she think that they would lower the gas prices because the way they were taxed had shifted?I know I could make a case for it, but it is hardly a sure thing.
The other problem I have with windfall profits taxes is trying to figure out how you define a windfall profit.
Wouldn’t a windfall profit tax be anti-free market? The possibility of profits and losses is one way that the market has of pricing economic risk. We should think long and hard before fooling with this market driven mechanism.