Trump's gas tax would wipe out 60% of tax cut benefit for individuals, analyst estimates

[mobeau69]

President Trump reportedly endorses the idea of a 25-cent per gallon gasoline tax to pay for infrastructure improvements for roads, bridges and highways.

Strategas Research points out that the higher tax, along with expected increases in fuel costs, would take away about $71 billion from consumers, or 60 percent of the expected $120 billion gain from tax cuts.

The increased cost of gas at the pump would also be nine times larger than the estimated $4 billion companies are handing to workers in the form of bonuses, due to corporate tax cuts.

More: https://www.cnbc.com/2018/02/15/trumps-gas-tax-would-wipe-out-60-percent-of-tax-cut-benefit.html

[global1]

1. The Trump Giveth And The Trump Takeit Away.... nt

[woodsprite]

2. And increased tolls from privatizing roads would take up the rest, then more. n/t

[mobeau69]

3. And the tax scam cut is gone in 2 or 3 years. n/t