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Fuel Prices and the US Economy: We did it before, why not now?

Sunday, April 27, 2008

We did it before, why not now?


Hello again everyone. My mind has once again begun to roll. I have been thinking back to the past, and remember something that my local Illinois government had done. Several years ago (approximately 7-8 years ago)the state of Illinois had decided that as gas was creeping over $1.50 per gallon that this would severely hurt the economy. To remedy this Illinois suspended the state taxes on fuel until the price became manageable again. This tax freeze stayed in place for approximately one year. Amazingly enough, our roads were still worked on, we did not run out of funding, and life rolled on with little to no repercussions. The fact that at $1.50 action was taken is great, but what happened?!? With prices now all over the state being well over $3.50 per gallon, where is the urgency we had seen before? We have proven that temporaraly removing taxes could give some releif, without major consequence, and yet with the prices now beeing well over double what it was when we suspended the taxes. Do they actually think that we can now handle paying more than double than what we had been then and not bother to look into a temporary tax break? I know that taxes are needed to cover expenses, however there are alternate ways to collect this revenue. Please let me know if your state is doing anything to help, or if it had done anything in the past, and the results. I like to think that this site is more than just a "venting of frustrations" I would like to get some feed back and ideas that we could all use to try and help our selves in this oil driven time of crisis. Feel free to leave your comments.

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