Thursday, July 10, 2008

End The Gas Tax

Let's end the gas tax - both state and federal, and institute a net asset tax on wealthy individuals, businesses and organizations. Also, the federal tax code should be changed to simplify it, and to make it a fair tax. One of the tax breaks should be for those who purchase higher efficiency vehicles. Those who purchase lower efficient vehicles should have to pay a surcharge. Let's say the federal government were to come up with a yearly efficiency figure (in miles per gallon [MPG]). The cars that exceed the yearly federal efficiency figure (FEF) would be granted a tax break, let's say $300 for every MPG greater than the FEF. The cars that are less efficient would pay a surcharge, let's say $200 for every MPG less than the FEF. Each year the FEF should increase, something like:
Year - - - - - FEF
1: - - - - - - - - 19
2: -- --- - - - - 21
3: -- -- -- - - - 24
4: - - - - - - - - 28
5: - - - - - - - - 32
6: - - - - - - - - 37.5
7: - - - - - - - - 43
8: - - - - - - - - 50
9: - - - - - - - - 58

The federal government could require that the cars that it purchases need to be more efficient than the current FEF.

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