BY RUSSELL TURNER
SEEING DOLLAR SIGNS
Over the past several weeks we Americans have benefited greatly because of falling gas prices. The falling price has put more extra money in the average American’s pocket than any scheme or stimulus that our government has concocted. Most people are grateful to see the price under two dollars a gallon, now we are seeing the government class trying to use that gratitude to raise the taxes on a gallon of gasoline. I have always been a fan of President Ronald Reagan; one of his quotes makes as much sense today as it did while he was president. President Reagan once said, “Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
It never ceases to amaze me how government never seems to get enough. Sure, people are paying less for gasoline, but most of them are using those savings to purchase other things that they need. The really smart ones may even save a little of those savings for a rainy day. I guess the government class fails to understand simple economics. The government collects the same tax on gasoline whether it is selling for one dollar or three dollars per gallon. The gasoline tax is based upon a per gallon rate and not the selling price. Has it ever occurred to the government that when drivers spend their savings at their local stores they are paying sales tax and they are helping to keep private businesses open?
While many people assume that the price of gas will remain low indefinitely, common sense should tell us that more than likely the price will go up as fast as it came down. I have heard that some lawmakers are proposing a 12 cent increase per gallon increase on a federal level; that may not sound bad while gas is selling for a buck and a half, but let it rise to $3.50 per gallon then it starts sounding pretty bad.
There are many factors that have caused the price of gas to come down. Among them, the economy in Europe is in shambles and there is low demand, but the main factor is the boom in shale drilling here in the United States. While the current administration has hampered development on public lands, development on private lands has the potential to make our country self-sufficient in energy. Anytime you have an increased supply of any product the price will fall, oil is no different. Additional drilling and constructing the Keystone pipeline will increase the supply and can help keep the prices lower in the future.
I am not in favor of increasing the tax on gasoline, leaving those funds in the private sector is the only sure way to grow the economy. Instead of trying to suck the life out of an industry, give it some time and let it grow. We all need to be wary of our government and money hungry politicians who see dollar signs and start taxing, regulating and subsidizing to get more of your money.
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