Report: Cohn, Trump gas tax could threaten 60% of American’s Tax savings

A report from Daniel Clifton, Strategas Research’s head of policy research showcased just how destructive the Gary Cohn, Donald Trump backed Gas Tax could be.






Looked at another way, the proposed tax would more than wipe out all of the gains workers are expected to see from the corporate tax cut. Clifton’s analysis indicates that the cost of an increase in gasoline prices due to the tax would be nine times greater than the estimated $4 billion workers are expected to receive from employers due to the corporate tax cut.

Two days ago we covered Trump’s backing of the Gas Tax. Here is what I wrote.

So we have a few things to look here. The first is if its a good way to pay for Infrastructure spending. My answer to that would be yes. Cars on the road are using the infrastructure so the more you use the roads the more you would pay through the gas tax. This doesn’t mean however that I support this initiative. Republicans just gave working-class families a big beautiful tax cut. Taking that money back by forcing them to pay more for gas is an awful idea.

Trump needs to look in the mirror and realize forcing Americans to front the bill for infrastructure is a poor idea. He needs to allow the States to handle their own infrastructure issues and make sure they create as many jobs within their own communities as possible. Privatising infrastructure wouldn’t be a bad idea either if handled at the State level.

It seems that my initial intuition of this Gas Tax is a bad idea is now supported by the facts. The study mentioned above showcases that this Tax would basically do away with the good of the Tax Cut. This Gas Tax wipes 60% of the savings from the Tax Plan and will almost certainly anger those who have turned to Trump over its success.

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