Now is the time for introducing and raising the gas tax level!

Gas prices have fallen by nearly 50% since their June/July peak states facing deficits.

Now is the time to introduce much higher gas taxes -- at the national, state, and local level.

In the long run, it will save the environment. In the short run, it will avoid stupid taxes on production, just when unemployment is racheting up. Do as Al Gore says.

OPEC tax shift

Greg Mankiw provides some hard budget info:

For example, if I am reading it correctly, we could increase the gasoline tax by $1 (see revenue option 48) and reduce all ordinary income tax rates, AMT rates, and dividend and capital gains rates by 2 percentage points (see revenue option 1) to produce an approximately revenue-neutral tax reform.

That's a start.

But Kitchen Linker really likes a comment by "Mr. Mercy Vetsel" on Mankiw's post:

Amen! Now we just need to package that with a clever name that doesn't inspire thoughts of pork...

Preparing to join the "OPEC Tax Shift (Shift Taxes to OPEC)" club

Amen!