According to a Politico source, Trump Endorsed 25-Cent Gas Tax Hike in White House Confab.
President Donald Trump signaled support for a 25-cent gas tax increase to help pay for infrastructure at a meeting with lawmakers on Wednesday, a source in the room told POLITICO.
Trump’s support, though not confirmed by the White House, represents a stark departure from recent administrations and congressional leaders that have tip-toed around the issue because raising the gas tax is considered politically dangerous.
It’s also a surprising turn from Trump, considering that most believed the best chance to hike the gas tax with the least amount of political pain was as part of the tax overhaul, H.R. 1 (115), whose ship has now sailed — and also because the splashy infrastructure plan the administration rolled out two days ago contained no mention of such a thing.
Trump told members he would lead on promoting a 25-cent hike to the federal levy, the source said. A second source familiar with the meeting said Trump backed the concept.
The 18.4 cents-per-gallon federal gas tax has not been raised since 1993. A 25-cent hike phased in over five years would generate an additional $375 billion over the next 10 years, according to the U.S. Chamber of Commerce.
Mish Alternative
- We stop the wars. Bring our troops home from Europe, Japan, Afghanistan and the Mideast. Everywhere actually.
- Trump proposed $686 billion for defense. I propose we slash our military spending by 50%. This would still leave the US with more military spending than any other country. That would give us an extra $343 billion a year.
- US Infrastructure needs repair, but that repair needs to be done at a reasonable price. To achieve that end, we need to scrap Davis Bacon and all prevailing wage laws. We also need national right-to-work laws.
- Of the $343 billion in defense cuts, we could put $43 billion per year on infrastructure, while lopping off $300 billion from the deficit.
- And if we can cut military expense, we should go after entitlements as well.
Mike “Mish” Shedlock
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And this right here is why the problem will never go away and will eventually run us into the ground.
“I paid into it, it’s my right!”
As a person who is about 15 years away from “retirement” I am planning as if SS doesn’t exist. Did I pay into it? Sure – as long as you understand that “pay into it” means “taken from me at the point of a gun”. Am I under the impression that it’s mine? Nope. And what you paid in (what was taken from you at the point of a gun) isn’t yours either.
Whose face, seal, words are on the paper currency you have? All of it belongs to the government of the Untied States. Which means it’s not *your* money to begin with, it’s theirs. “Render unto Caesar” and all that.
Governments by Ideologues killed more human beings in the 20th century than all the wars combined.
Actually, they do. The other 80% include Ideologues such as those in the USSR, Communist China, the Castro Brothers’ Cuba, Nazi Germany, Mussolini’s Italy, the executions by both sides in the Spanish Civil War, the Khmer Rouge, North Korea,
“The other 80% don’t kill people.”
the other 80% don’t kill people
Unless enough people get off their couches and demand short term-limits, your alternatives, or any other meaningful reforms, have ZERO chance of occuring before we crash and burn.
You are correct sir.
Republican in CA are trying to repeal the governors gas tax. Can’t wait to see how this works out. I have thought maybe J Brown has thoughts of a run, and yes there are a fair number of people who have a negative view of him, (personally) to which I say, and what’s your point?
agree to cease this endless war B.S. but the DoD is fraction of the federal budget, and hovers below 20%. The recent reductions in the other 80% of the budget are styeps in the right direction too.
Tell the poor people of Libya that having women in charge results in less violence. Hillary Rodman Clinton and the rest of Barry’s women bombed their country into chaos. The problem is not men or women – it is the Political Class. Those evil people who pretend that the Social Security Ponzi scheme is a “right”, when in reality it is no more than an obligation on future citizens. And they fool the unwary into believing that an accounting entry called the Social Security Trust Fund actually has any real assets.
Mish, you forgot TickerGuy’s solution – far simpler – jail a couple dozen “health” “care” execs for violations of existing antitrust, price fixing, fraud, etc, law and medical costs drop 80-90% this year. 80% of the 17% looted from the $19T GDP = $2.5T back into the peoples would make this a rich nation again.
Didn’t WOMEN raise all those men? Lloyd DeMaus – OWCA – Origins of War in Child Abuse. Read it and weep. You’ll never suggest “women” again.
Realist, the forefathers didn’t believe in democracy, they believed in the Republic. When the forefathers started he country women and blacks couldn’t vote so what are you saying? The biggest drain on the country’s finances are entitlements and people who will receive them will never vote for giving them up even if it destroys the country.
Jojo, sorry but this is not a solution to anything; only a recipe for more catastrophes. Simple solution is to stop killing animals in slaughter houses as this type of cruel violence begets infinite war and violence. As long as the slaughter houses remain open there is no possibility of peace.
That’s mighty sexist of you.
My opinion is people are willing to wage war base on fear more often than macho. What was the excuse to invade Iraq, Syria, Afghanistan, Libya? From what I saw on the news media, these invasions where all done for the sake of protecting ourselves (fear) and not imperial conquest.
So, once again build the country’s infrastructure with slave labor and indentured servitude? How quaint!
Agreed. If you cut SS, it’s only right that you also cut the payroll tax AND return some of that money to those who paid in. Once done, you’ll actually increase the deficit over the long term. Once you understand this, you understand that the entire deficit is a result of military spending primarily, and uncompetitive medical pricing secondarily.
Agree on cutting military spending. Entitlements, however, are rights. SS and medicare have been paid for if that’s what you’re referring to. Who are you to suggest they should be cut?
So is Feinstein. And Clinton is out of politic is, so YOU can let go and finally forget about her [lol]. But one or two outliers doesn’t invalidate my contention. More woman politicians will be better for us over the long term.
Jojo: Hillary Clinton has been the biggest warmonger in decades.
Re: military budget & wars. We need to elect many more woman. Less testosterone and macho syndrome might be the best course to cutting the military and withdrawing our troops from around the world.
We were warned by Eisenhower in January 1961. 57 years later people still shrug it off. It ruined the country.
Politicians will always be able to find a way to tax everything, so don’t worry about it jojo. I do agree The Donald is terrible when it comes to staffing.
Didn’t Trump campaign on Mish’s point #1? If yes, then someone needs to hold his feet to the fire.
This is yet another stupid example of Trump speaking through his asshole. Electric car sales are increasing significantly and will replace gasoline cars in not too distant future. Taxing a disappearing source (gasoline cars) is not smart tax policy.
I do like Mish’s proposals. I hear their are many open jobs in the Trump administration Mish!
Realist says “you should be like Australia and fine people for NOT voting.” I have an opposite opinion. I think we have way too many stupid and uninformed people voting for too many stupid and crooked politicians already, and the demoncrats want more.
Cut military? It’s easy to say, and JFK hard to do: “AIPAC, of course, is the premier Israel Lobby organization. Every March at its annual Conference the group assembles a huge turnout of moneyed and grassroots lobbyists. Scores of members of Congress from both parties and political aspirants of all stripes jockey to express their loyalty to the Lobby. It is at these conferences that AIPAC’s major legislative priorities for the year are unveiled. This always includes renewed (and increased) military aid for Israel and for the last ten years or so various measures to oppose, sanction and preferably make war on to overthrow the Islamic Republic of Iran — Israel’s last remaining serious military opponent in the Middle East”. link to fromthetrenchesworldreport.com
Tax reform benefits the richest 1% far more than the rest, 25cts gas tax penalises the rest far more than the richest 1% – Trump was elected by the 99% to serve the 1%, people like Buffett, Zecks, etc who actually preferred Hilary
Realist, I am interested in restricting voting to those who pay income tax as I suspect they will be less interested in wasting it. People who suck on the welfare tit should not have a right to vote for more of the same.
If you’re not disabled, you shouldn’t be on welfare. If you can’t support a child, you shouldn’t have one. If you don’t pay income tax you shouldn’t vote. It’s not just crony capitalism and the MIC – the economy needs an enema.
I rarely favor taxes, but I have no problem with a raise to the gas tax. Let’s couple it with eliminating tax subsidies on specific alternative energy production methods (ethanol, wind, solar, batteries, etc). Raise the cost of petroleum, and don’t subsidized anything else, then let the free market determine the most cost effective alternative. Turn energy policy into a cash cow instead of a cash drain.
lol moar bait n switch from DC,tax cuts here,tax increses there lol too funny
Trump favors the 25-cent gas tax increase because it was the last thing said to him at the meeting. He always agrees with the last thing said. He’s a cretin.
” instead put a monthly tax on all vehicles.” We already have that in the form of state vehicle registration fees. In CA those fees are based on car value and very expensive: from over $100 for the cheapest beater to $1000s per year for a Ferrari.
That is what the warmongers would say, while ignoring the fact that Switzerland builds no tanks and bombs no one, and nobody bothers them. Although, minding their own business while having a heavily armed & well trained citizenry probably helps discourage intruders.
And while we are at it, let’s restore Liberal Newspeak to proper English. A “cut” means a reduction from last year’s expenditures — not a projected reduction in the rate of increase over the next decade. And there should be at least a $2 genuine cut in Entitlements for each $1 cut in the military. And no military budgets cuts until obligations are cut first — for example, quit NATO and leave the Euros to their own devices.
Here’s a better idea — instead of taxing us poor people, who drive old gas guzzlers, let’s tax rich liberals who drive hybrids. Why should the poor pay for virtue-signaling lefties? Cut the gas tax to zero, and instead put a monthly tax on all vehicles. The amount of the tax would increase with the size of the batteries in the car. Make those self-satisfied Pious drivers pay their fair share!
And the best part about raising taxes is that the Federals dont include tax increases in official inflation calculations. Trump can raise the tax 25 cents and It’ll never be acknowledged to be there. 25 cents tax increase = 0% inflation increase. Any inflation you see is a figment of your imagination.
“Dropping bombs and making tanks etc is worse than useless”: it discourages people from taking your stuff.
Captain, if we threw 100% of the military cuts on infrastructure we would come out ahead. Dropping bombs and making tanks etc is worse than useless.
Mish, how does your plan attempt to keep the debt Ponzi going? Your plan is deflationary even if honest. No politician wants deflation on their watch.