With prices soaring, it may be time to reverse that argument. Soaking the poor Proponents of bigger government used the fact of falling gasoline prices to argue for higher gasoline taxes. With prices soaring, it may be time to reverse that argument.
Gasoline taxes are a major component of the pump price of gasoline.
The Tax Foundation says excise taxes such as the gasoline tax are five times more burdensome for lower-income households than they are for wealthy taxpayers. Various interest groups complain that the gas tax does not produce enough money for the roads the nation needs, but that is another issue. In the huge gas tax in crease Bill Clinton succeeded in getting through the Democratic Congress in 1993, part of the money went to mass transit. Most of it went not to roads but to deficit reduction. That deficit is now a surplus.