Party of Stupidity watch. The Democrats. John Whitehead is on the case:
Environmental Economics: Dems propose a holiday: Right, it would be silly plus stupid (i.e., "inefficient" to an economist). But, who cares in an election year:
Following President Bush's four-point plan outlined today, Democrats proposed legislation that would put a moratorium on the Federal gasoline tax for at least 60-days to provide consumers immediate relief at the pump. But the proposed legislation would also chop oil company tax benefits and burden refineries with unwarranted reporting requirements, making it unable to win enough support in Congress to have even a remote chance of passing...
Remember: the Democratic position--and the correct position as far as the public interest is concerned--is that gasoline prices are not too high but too low. Global warming, road congestion, and a desire to curb the damage that can be done by the mess in the Middle East all mean that we should be providing incentives for Americans to wean themselves to a less oil-guzzling lifestyle.