With regular gas prices down to a national average of around $2.13 per gallon, many of the more-tax-is-good persuasion are suggesting we increase the federal and state taxes on this as-necessary-as-air energy source.
Do they remember that this price was around $1.60 on Election Day in 2008? Do they recall it ranged from around $3.20 to $3.95 from February 2011 until about two months ago?
By the way, do they have any idea how much U.S. gas tax revenue – at least $30 billion to $35 billion a year – is spent on actual highway infrastructure, as opposed to other federal priorities? Me neither. Last I looked, though, there was about a $10.5 billion balance in the Highway Trust Fund.
Another: Overall, federal tax revenue was up 9 percent in the last fiscal year, while the economy grew just 3 percent or so. To me, that’s obscene. Tax us still more? No thanks.
Tom Zimmerman
South Casco
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