really benefits.
In my mind, I see only one outcome; an increase in profits for the major oil companies.
Does anyone truly believe that the economists crunching numbers for the Seven Sisters have not already figured out exactly how much of that much ballyhooed gas tax relief they can siphon off into corporate profit?
Here's what I mean.
We are now paying roughly 17 cents per gallon in taxes each time we fuel up our vehicles. That 17 cent cut will be in place for a bout a week or two until the steady ratcheting of the price per gallon commences. This will wipe out any tax relief McCain wants to put in place and negate the slight economic impact that this tax cut should bring. Worse than that, when the tax relief expires, the oil companies will just merrily tack that seventeen cents back onto the already escalating cost at the pump.
The bottom line is this; less money to fix our nations infrastructure, more profits for the oil companies and a populist media hit for Straight shooting John McCain.
Cynical?
You bet I am.