Miles O'Brien may be CNN's resident NASA expert. But that doesn't make him a rocket scientist, and it sure doesn't make him an economist.
Maybe that's why he thinks raising taxes will help alleviate high gas prices.
There “could be a good argument for a gas tax in all of this to help pay for these alternative fuels,” the “American Morning” co-host suggested on the April 25 program.
“We have enough gas taxes, don’t you think,” reporter Carol Costello fired back.
Every American motorist already pays 18 cents on the gallon to Uncle Sam and anywhere from 8 to 45 cents per gallon to state governments, according to figures compiled by the American Petroleum Institute. In fact, the Energy Department estimates taxes account for 19 percent of the price of a gallon of gasoline, nearly as much as the 22 percent of the price that goes to refining costs.
O’Brien was reacting to a report showing purchases of gasoline-inefficient vehicles are as popular as ever with consumers.
For more, check out the full article at FreeMarketProject.org.