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Don’t Believe The News Medias’ Spin! Tax Cuts Actually Increase Revenues.

Published: 04/17/08 10:00 AM EDT

Republican Senator John McCain called for a summer-long suspension of the federal gasoline tax and several tax cuts to stem the public's pain from a troubled economy. He urged Congress to institute a "gas-tax holiday" by suspending the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. The AP reported that “by some estimates, the government would lose about $10 billion in revenue”. But Daniel Frishberg, BizRadio’s MoneyMan refutes the whole idea that Mr. McCain’s temporary tax suspension would cost the government any revenue at all in the long run!

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