Check out the latest commentary at the Nassau Institute. The topic is The Benefits of Higher Gas Prices.
Here’s a little snippet:
The government gets about 40 per cent of its revenue from imports of fuel, vehicles and related products. This is a significant figure, and it will be painful to change this revenue stream over the near term.
To do so we will have to make some hard choices. The shortfall in revenues from auto and fuel imports will have to be offset by higher payroll, value added, sales, income or other taxes. And any changes must be done in a way that preserves our low-tax status.
Of course the best solution to lack of government revenue is to spend less but this option is rarely considered by our politicians.
Click here to read the entire article.
