More Bad Math: Gas Tax "Holiday"

Emotional issues make for interesting debates. Take the impact of rising (dare I say skyrocketing?) fuel prices on people and the economy. Now, take all that emotional complexity and throw it out the window and look at the cold hard facts (yes, I know, this is not easy to do).

If you drive 300 miles per week in a car that averages 25mpg, over the course of the Summer, given a gas tax "holiday," you will save yourself roughly $33 dollars. Not per week or month, that's TOTAL. Try not to spend it all in one place. If your car gets 30mpg, then that figure drops to around $27. And if you only drive 100 miles per week in a 30mpg car, you're saving less than $10.

Now, look at the impact on the other side. While you're saving enough for an ok meal, the government is taking an estimate $9 BILLION hit for roads and bridges. It's estimated that this downside would account for a loss of up to 300,000 jobs, not to mention all the projects not completed (bridge work, anyone?).

So, the bottom line: is it worth saving $30 TOTAL over 3 months to see a loss of 300,000 jobs? Probably not.

Hat tip to Barack Obama

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This page contains a single entry by Ben Tomhave published on May 1, 2008 4:25 PM.

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