Donald Trump is now saying that he’s willing to raise gas taxes to pay for infrastructure improvements. He wants me and you to pay more for gasoline all while he gives his millionaire and billionaire buddies a massive tax cut.
We currently pay 18.4 cents per gallon in federal gas taxes. (and 24.4 cents per gallon for diesel) If Trump gets his way we may soon pay even more.
Trump wants to spend trillions of dollars on a new infrastructure plan. We definitely need to work on our aging infrastructure system. No question. But how do we pay for it?
The money won’t be coming from the very rich. No, Trump is giving them the biggest tax cut in history. Instead Trump is willing to make me and you pay more to get to work everyday.
On Monday, Bloomberg reported,
“President Donald Trump said he’s willing to raise the U.S. gas tax to fund infrastructure development and called the tax-overhaul plan he released last week the beginning of negotiations.
“It’s something that I would certainly consider,” Trump said Monday in an interview with Bloomberg News in the Oval Office, describing the idea as supported by truckers “if we earmarked money toward the highways.””
This is asinine on so many levels. First of all it’s morally wrong. It’s completely unfair to give Trump and his buddies a massive tax break while struggling families foot the bill.
For every one cent tax raise, a billion dollars are taken from the pockets of consumers.
To make it worse, raising gas taxes will hurt middle-income Americans the most. It will also increase the price of consumer goods. And even according to most Conservatives, tax hikes have a negative impact on economic growth.
But Trump has his priorities. And they don’t include me and you.