One of the very few plusses since the summer has been the drop in oil and gas prices. The average price of gasoline at the pump, for example, dropped from $4.11 in mid-July to $1.78 early this week.
Unfortunately, there are politicians who want to spoil this bright spot in an otherwise dismal economy. On January 14, The New York Times reported:
Several states are considering the rare step of raising gasoline taxes to help fill growing budget gaps and potholed roads. Politicians in California, Massachusetts, New Hampshire, Illinois and Oregon, for example, are introducing bills that would raise gasoline taxes for road and bridge repair, as state legislatures around the country begin their new sessions. In Iowa, top legislators in both houses would support an increase. And in Ohio, a state task force last week recommended raising the gas tax by 13 cents a gallon.
It would be far better for taxpayers – including small businesses – and the economy if elected officials stopped looking to drain more revenues from the private sector, and instead, get serious about reining in the size and scope of government.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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