Clinton not backing away from gas tax holiday

Yesterday, Wolfon, Hillary's advisor, said the Hillary was going to be president and she didn't need to talk to experts.

http://www.huffingtonpost.com/2008/05/01/clinton-camp-gas-plan-she_n_99643.html

This reminds me of when she didn't read the NIE intelligence report on Iraq, and voted for the war.

Here, she's willing to push through a program that doesn't mean anything because the gas companies will just raise prices even more, saving the consumer nothing.

In the end, it solves nothing, it's just a gimmic.

Obama is proposing real solutions to this problem: alternative energy, and higher gas milage.

We need Obama.

Neither Hillary Clinton or John McCain wear flag pins on their lapels.

John McCain is on his second marriage to a woman he dated while still married to his first wife.

Hillary Clinton has been knowingly married to a lying, philandering skirt chaser for 33 years.

John McCain actively sought the endorsement of John Hagee, a war mongering, racist, radical right wing preacher who's known for his fiery rhetoric and has publicly called the Catholic church "the great whore".

Hillary Clinton and Bill Clinton have earned over $100 million in the last 10 years, not counting 2007.

John McCain is married to a woman estimated to be worth over $100 million.

John McCain's wife Cindy will not release her tax returns.

John McCain uses his wife's private jet in violation of his own campaign finance law.

John McCain admits he understands little about the economy, continually gaffs on foreign policy.

Hillary Clinton grossly inflates her participation in her husband's administration.

Hillary Clinton lies on Bosnia sniper fire.

In a 1994 discussion on whether to help the working poor Hillary Clinton said to President Clinton, and a room full of her husband’s Administration, “Screw’em, we don’t owe them anything Bill.”

Food for thought.

What is wrong with these people?!?! McCain and Clinton are out of touch with the reality of the situation, and pandering to what they obviously see as the stupidity of the average working American.
This tax break would amount to no relief at the pump and more profits for the oil companies, because the oil companies are the ones that remit the gas taxes to the federal government. All they have to say is that prices can't be lowered because demand is up during the summer driving season, and, wonder of wonders, the $10 billion savings goes right into their already well-lined pockets.
If the American public falls for this trick, they deserve what they get. I wonder how the Clinton and McCain campaigns will be rewarded for this little gift to "Big Oil"?

Once again (like Iraq) she can not admit her mistakes !

I'm nauseous.

It's the fact that Clinton KNOWS this won't actually work that really makes me mad. I'd bet my life savings on this fact: replace a tax on buyers with a tax on sellers, and the price won't change by one shiny penny.

IT WON'T EVEN SAVE YOU THE HALF A TANK OF GAS THAT OBAMA SAYS IT WILL. IT WILL SAVE YOU N-O-T-H-I-N-G

This is worse than a gimmick. It's a lie.

If Hillary can impose an excess profits tax on the oil companies, why has she make them to lower the prices. This does not make sense.

This supposed relief is a fairy tale. Gas prices will not go down and it continues to promote our country's oil addiction, instead of looking for ways to break the habit and foster alternative fuels, as well as to strive to prevent global warming. This is very poor judgment on Hillary's part. Obama shows very good judgment by saying no to fostering our oil addiction and prevent global warming as well.

Interesting how Clinton is forcing a bad policy. Is this the way she intends to govern the country. Knowing fully well that the policy is bad, she is deceiving the voters by telling them it's a good one and using it to stump for votes. I use to argue with people when they said she will do anything to win - Now I can see she will indeed do anything to win. This is pathetic...

Interesting how Clinton is forcing a bad policy. Is this the way she intends to govern the country. Knowing fully well that the policy is bad, she is deceiving the voters by telling them it's a good one and using it to stump for votes. I use to argue with people when they said she will do anything to win - Now I can see she will indeed do anything to win. This is pathetic...

If Hill isn't prepared to start fixing prices for the oil companies, then she has no control over what they charge for gas. Notice how even in the face of what economic experts say, she won't back down. She believes herself smarter than everyone else so she won't compromise and wants to force her opinion on everyone.

If you raise taxes on oil companies, they have the market power to simply raise the price, as we all well know. How many people think that they won't raise the price to cover any new tax? If you think they would leave prices at the level they are before any kind of 'windfall' tax is placed on them, I have some mortgage-backed securities for sale, we should talk.

Question...so if she isn't "all talk and no substance" then why isn't she on the floor of the Senate debating this, instead of pandering to voters? I mean, talking in IN isn't going to get it passed.

She should be in DC doing it instead of talking about it.

Liar.

Neocons and Republicans thugs on this and other boards, radios and T.V.'s are crying high and loud to get nomination of Hillary Clinton, thinking that once she is on the ticket, they can easily compared their rotten Egg (John McCain) with her in many ways and bring the big face and big nose Clinton in the field who will naturally run the White House either from his bed or from his coach.
The hardcore Whites, who have never supported even white Democrtas in the past, we should not worry about them and let them to cheer for John McCAIN, whose one leg is in his grave and barely can walk, talk and think straight.
If we elect Obama, America can stand up again in the world as the most civilized Nation and take leadership to be an honest, humane and just and fair BIG BROTHER wiping out the sins carried out by the gang of Bush-Cheney and Rumsfeld.

Bill Clinton was against us according to Hillary

Enron Loophole — Hillary needs to check with Bill and Sen. Dianne Feinstein, one of her superdelegates. Hillary was telling voters in NC about the Enron Loophole — Where has she been? Obviously not paying attention to Congressional Hearings.

Pres. Bill Clinton signed the law the created the Enron Loophole — Commodity Futures Modernization Act (CFMA), December 2000.

John McCain's financial advisor, Phil Gramm and his wife Wendy Gramm were the main individuals behind the passage of the CFMA. Wendy Gramm held the highest position at the Commodity Futures Trading Commission (CFTC). A few weeks after the CFMA passed, Wendy Gramm went to work at Enron.

Prof. Michael Greenberger JD, professor at the School of Law, director of the Center for Health and Homeland Security, and a former director for trading and markets for the CFTC: "CFTC Is In Desperate Need Of New Commissioners Who Represent The Consumer Interest. Congress can pass all of the laws it wants to ensure that the energy derivatives markets are not overrun and made dysfunctional by excessive speculation. If the CFTC commissioners do not believe in those laws, the American consumer will continue to take a back (and highly uncomfortable) seat to the large banks, hedge funds, and other market speculators."

June 25, 2007 – Before the U.S. Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, Regarding, Excessive Speculation in the Natural Gas Futures Market. http://hsgac.senate.gov/_files/STMTGREENBERGERMichael.pdf

Testimony of Michael Greenberger, May 8, 2006 - Senate Democratic Policy Committee Hearing “Lessons from Enron: An Oversight Hearing on Gas Prices and Energy Trading”: Consumers Have No Power at the CFTC, by Michael Greenberger, "Nothing has happened. Why? Because in the power politics of commodities business, the investment backs, the Goldman Sachs, the Morgan Stanleys, the City Banks, the JPMorgan Chase, run ICE. And the way business gets done at the CFTC is ‘Who has the power?’ Usually it’s the traders versus the consumers. And the consumers have no power at the CFTC. Here it’s a little exchange, or a fairly little exchange, versus the powers that be in the American financial community. And in that calculus, ICE is going to get away with murder. Simply put, that’s what’s happening. http://democrats.senate.gov/dpc/hearings/hearing31/greenberger.pdf
Phil Gramm, Bill Clinton, and the Sub-Prime Financial Mess
Listen to Michael Greenberger on NPR’s Fresh Air http://www.npr.org/templates/story/story.php?storyId=89338743

Senate Investigations Permanent Subcmte. Hearing on Excessive Speculation In The Natural Gas Market, Part 1 of 2
Speaker: Corbin, Cota, Kaminski, Greenberger, Lee, Levin
Date:06/25/2007 http://video.energypolicytv.com/displaypage.php?vkey=1b6b7a7d29490fe5ec9f&from_search=1

Does anyone in the current administration even remember Enron, June 26, 2002 | Does anyone in the current administration even remember Enron? Judging by President Bush's two nominees to the Commodity Futures Trading Commission (CFTC), who appeared at Senate hearings on Tuesday, the answer is no. Prof. Michael Greenberger

The CFTC, Reluctant Regulator, 11/26/2003, TheStreet.com, by Will Swarts

Once again another "stunt" from Hillary to try and grab quick headlines, but as per usual something not thought through!

First we had the Bomb Iran off the Map and now Gas Tax Holiday, everything with Hillary is short term hoping for gain bit not realising the Pain! it will bring in the end.

Hillary's is proving to be a joke and a disaster, a campaign based on lies and smears is not fit of high office.

It is nice to see so many passionate voices emerge surrounding the current elections, but it worries me that most people seem to be throwing their support behind a candidate and then doing everything in their power to criticize, insult, discredit, and embarrass the other side without even looking in the mirror. None of the candidates out there are perfect, but none of us are either. I cannot help but notice in the vocal criticisms above that people tend to praise Obama's proposals for sensible solutions. Well, just so you know, he has also proposed the exact same windfall profits tax on oil companies that clinton has. While he is not in favor of a gas tax holiday (another absurd idea put forward by two of the three candidates), the proposal for such a idiotic tax puts him in the same boat of economic ignorance that Clinton is currently captaining. The complete disregard for economic principles in this election is very disturbing indeed, I think all the candidates need to go back to econ 101. A windfall profits tax, which should be considered a criminally negligent proposal, disciplines suppliers for the actions of consumers. If they are forced to pay a tax on profits, they will simply squeeze supply and increase prices in an attempt to discourage consumption and mitigate the tax they will eventually have to pay. It sounds absurd, and is a painful thought, but the best thing for consumers is for oil companies to continue to compete and try to make as much money as possible, that will keep prices as low as they are able to be. The criticism should not be levied on big oil, but on OPEC. I agree that the proposals to look for alternative energy sources and for more money to research are the best way forward. But unless you are so narrow-minded that you have entirely ignored the candidates other than the ones you are supporting, you know that those proposals have been put forward by all candidates.

This really isn't complicated. What the actual economics show is that about two thirds of the gas tax break would go into a price reduction. Only a third would be left behind because that is all the market would allow. If you replace the full cost of the gas tax with a tax on oil company profits, you have essentially transferred the cost of the gas tax from consumers to the oil companies. They can;t recover it because they will already be charging as high a price as the market will bare.

The average amount saved is irrelvant. I fill up once a month and don't even pay attention to the price. Its the folks that own an RV or other gas hog or who commute long distances that are hurting from the recent run-up in prices. And those people who are really hurting are the ones who will get the biggest savings out of a gas-tax holdiay.

Providing some temporary relief is not going to eliminate the incentives for conservation or for changing behavior in the long run. It will cushion the transition to the new reality for people most effected. Its seems to me that is what government ought to be doing.