200+ Economists: Gas Tax Is A Bad Idea
And what’s really nice is they actually sang their statement in the round. I wish I had the audio because it was quite lovely.
May 5 (Bloomberg) — More than 200 economists, including four Nobel prize winners, signed a petition rejecting proposals by presidential candidates Hillary Clinton and John McCain to offer a gas-tax holiday.
Columbia University economist Joseph Stiglitz, former Congressional Budget Office Director Alice Rivlin and 2007 Nobel winner Roger Myerson are among those who signed the letter calling proposals to temporarily lift the tax a bad idea. Another is Richard Schmalensee of the Massachusetts Institute of Technology, who was member of President George H.W. Bush’s Council of Economic Advisers.
“Suspending the federal tax on gasoline this summer is a bad idea, and we oppose it,” the petition says. Economist Henry Aaron of the Brookings Institution is among those circulating the letter and said most signers are economists. Aaron said that while he supports Obama, the list includes Republicans and Clinton supporters.
No word yet if there will be any economists who will actually say they’re publicly in favor of this idea. Don’t hold your breath.