MONEY FROM OIL
As the Burj Dubai Skyscraper climbs to once unfathomable heights, my boss likes to say it's the perfect symbol of our country's inability to tax gas appropriately. Here's a great article that describes why artificially low gas prices - yes, even at $4 a gallon - actually take money out of our pockets and send them abroad: "At $4, Everybody Gets Rational". And the killer quote: "Goldman Sachs is predicting we will be paying $6 by next year. Why have the extra $2 (above the current $4) go abroad? Have it go to the U.S. Treasury as a gasoline tax and be recycled back into lower payroll taxes."
As the Burj Dubai Skyscraper climbs to once unfathomable heights, my boss likes to say it's the perfect symbol of our country's inability to tax gas appropriately. Here's a great article that describes why artificially low gas prices - yes, even at $4 a gallon - actually take money out of our pockets and send them abroad: "At $4, Everybody Gets Rational". And the killer quote: "Goldman Sachs is predicting we will be paying $6 by next year. Why have the extra $2 (above the current $4) go abroad? Have it go to the U.S. Treasury as a gasoline tax and be recycled back into lower payroll taxes."
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