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Clinton 'Not Going To Put My Lot In With Economists' on Gas Tax

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May 04, 2008 12:36 PM

ABC News' Mary Bruce reports: Sen. Hillary Clinton, D-N.Y.,  declined this morning to name a single economist who backs her call for a gas tax suspension.

"I'm not going to put my lot in with economists," Clinton said in an exclusive appearance on a special edition of "This Week" from Indianapolis.

In light of fierce criticism from economic experts, Clinton said, "We've been, for the last seven years, seeing a tremendous amount of government power and elite opinion basically behind policies that haven't worked well for the middle class and hard-working Americans. ... I know if we get it right, if we actually did it right, if we had a president who used all the tools of the presidency, we would design it in such a way that it would be implemented effectively."

The Democratic candidate also responded to claims that her proposal is not a "truthful response" to the soaring prices at the pump.

"This gas tax issue to me is very real, because I am meeting people across Indiana and North Carolina who drive for a living, who commute long distances, who would save money if the oil companies paid this $8 billion this summer, instead of it coming out of the pockets of consumers," Clinton said. "Now, look, I have long-term plans too.  I mean, it's a misnomer to say this is all that I'm doing.  It's not.  I have a comprehensive long-term energy plan that would go right at dependence on foreign oil."

Clinton also differentiated her plan from that of Sen. John McCain, R-Ariz., the likely Republican presidential nominee, who has also called for summer gas tax holiday.

"My proposal is very different from Sen. McCain," she said. "Sen. McCain has said take off the gas tax, don't pay for it, throw us further into deficit and debt.  That is not what I've proposed.  What I've proposed is that the oil companies pay the gas tax instead of consumers and drivers this summer."

Clinton has proposed using a windfall profits tax on oil companies to pay for the gas tax holiday. However, she also previously pledged to use windfall profits to create a strategic energy fund for renewable and alternative energies.

But when "This Week" host George Stephanopoulos asked if she had already spent the windfall profits tax, she said, "No ... the tax subsidies will go right into that [strategic energy fund].  I'm talking about something temporary this summer.  My longer-term plan is, yes, to put an excess profits tax on the oil companies above a certain level of profit that would go in to help us make the transition."

May 4, 2008 in Bush, George W. | Permalink | User Comments (237)

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Obama cannot give a tax credit to the people because he is beholden to the oil companies. If you want to see how if behind the media push for Obama you will see it goes as far down the rabbit hole as the Rockefellers...

Posted by: ken | May 4, 2008 1:39:11 PM

Anyone care that the Clinton v. Paul trial is starting soon? Anyone care that Hillary has been ordered to testify after the election?

Obama's pastor is nuts and I agree with the scrutiny. We are trying to learn about the character of the candidate.

Another candidate is involved in a campaign fraud trial during the same candidates senatorial run. Its public record. Are we allowed to question the candidates character yet...

How about this for a future headline.....'The President of the United States of American, Hillary Clinton, made history today by handing out the first pardon of the presidency to her husband Bill Clinton. No word yet on how much she charged him.'

Posted by: Very Concerned | May 4, 2008 1:40:11 PM

Why do I think the oil companies will just take 18 cents additional profit. They'll blame the price increase on supply and demand, but then announce a new round of record profits.

Posted by: Tony | May 4, 2008 1:41:13 PM

Who owns Obama? The big oil companies? General Electric? Obama has such a boatload of dirty friends……drip…drip if that boat springs a leak…watch out. Look at Rezko on trial right now. Rezko, as a real estate magnate in Chicago, was given a contract for 3 energy plants to be built in Iraq…. through our government. The plants were never built because Rezko got indicted, but NO DOUBT that Senator Obama helped Rezko GET that contract for Rezko. Not to mention that Axelrod was a lobbyist for Exelon (and the later nuclear legislation with no teeth), or that much of the $$$ loans came through General Electric Financial. Who have been large contributors to Obama’s campaigns, General Electric and Exelon! Who owns one of the largest loan insurance and credit card companies in America, General Electric. Who voted for unlimited credit limits and voted against a 30% cap on credit cards? Obama! Obama said he voted against the 30% cap because it was too high. Apparently NO cap is better than a cap that’s too high. Who owns NBC and MSNBC the home of anti-Hillary all the time? General Electric! Who owns Chris Matthews, Keith Olbermann and Andrea Mitchell? General Electric! Who owns Tim Russert? General Electric! Who is currently doing business in Iran? General Electric! Who owns Obama? All Obama can do is criticize and point his elitist finger at Hillary for being what he thinks is wrong for big business. Hillary cares about the small town Americans, the ones that struggle to pay bills and get to work, while all of Obama's friends go to swanky parties at fabulous mansions sipping $100 bottle wine, talking about us bitter small town Americans who don't understand the importance of making the rich richer!

Posted by: rs | May 4, 2008 1:41:14 PM

Give me a break. She does not get the economy. Neither does McCain. If she can't get the gas economics right do you really expect her to get the entire US economy right?

She messed up and she is not owning up. How typical of her. Remember Iraq vote? Go home Hillary. The time has come. You had your glory. We need fresh blood, fresh ideas, less partisan people in politics.

Posted by: fooled_once | May 4, 2008 1:42:39 PM

Wasn't this a 'conflict of interest' with George Stephanopoulus being an ex-Clinton employee. Didn't the disastrous debate teach ABC anything?

George, you have finally allowed the Clinton's to make you look again like one of their hired surrgates, not to mention loosing any creditabilty as a serious newsperson.

Posted by: Edward King, Omaha | May 4, 2008 1:43:25 PM

With this gas tax holiday issue, who is going to approved it? Has she discussed it with George Bush first? Is she talking about next year or the year 2012? what a lie!!! It is only way of getting votes.

Posted by: Peace | May 4, 2008 1:46:22 PM

The SuperDs are not amused. Most will see it a classic political pandering.

Posted by: Bob, DC | May 4, 2008 1:50:43 PM

Get a clue, people. It's not about the $30 people are saving. It's about costs and benefits. The price reduction likely will increase demand, leading to even higher costs when the holiday is over. And the loss in tac revenues will cripple the construction industry since COUNTY governments will not have money to support projects. This is hurting the little guy, not the federal government.

Posted by: Fred | May 4, 2008 1:52:39 PM

We do not need mother Pinocchio in DC.
We have them enough as family. Than sooner we dump here then better. We need educated people who know how to listen...

Posted by: lastname | May 4, 2008 1:53:41 PM

Classing someone as an 'expert' does not mean that they are neutral!

Tax policy is fraught with political spin. Clinton is advocating a direct redirection of oil profits on a temporary basis.

Why is Obama really sneering at this practical solution? Is it that he actually wants to protect monopoly-driven oil company profits? That's the Univ. of Chicago school economics plan -- let the free market save us all!

Posted by: Kal | May 4, 2008 1:54:12 PM

Why listen to people who devote their lives to things and know stuff when you could be Queen Clinton? The gas tax holiday is disaster, whether you realize it or not.

The reason it matters is that it shows Clinton lacks a basic understanding of economics and the likely big-picture consequences of lowering the gas tax as an economic incentive during a time when our main goal is trying to reduce gas consumption, that or she knows and doesn't care. I'm not sure which is worse.

Obama is trying to point that out to everyone, but apparently only a select few have the brainpower to process it. It must be frustrating running for President, trying to explain basic concepts to people you need to vote for you.

Posted by: Chris | May 4, 2008 1:56:18 PM

The reason USA is leading the world is because of its scientific leadership is everything from going to moon, rockets, satellites, medicines, agriculture, manufacturing, etc.

We don't rely or trust our scientist, yes economists are scientists of economy, then something is wrong with that kind of leadership. Hope people vote with brains not their biases.

Arni, Austin

Posted by: Arni | May 4, 2008 1:57:15 PM

Hillary's arrogance and denial about this MAJOR ploy to get votes and then dismiss the economists opinions about the gas tax holiday as unimportant is rediculous. Let's concentrate on this error of judgement and question whether it has hurt her campaign. If it hasn't, then we are as dumb as she hopes we are in her pandering for votes. Come on press, media and Americans , let's call her on this one! The economists are pros and she is a deceiver. LaDonna in WV

Posted by: LaDonna Wilson | May 4, 2008 1:57:27 PM

This is one of her most blatant attempts to date of pure political pandering. I'd say it's the worst but the campaign isn't over so she has more time.

Just another example though of why it's time for America to say...

HILL No!

Posted by: Tom | May 4, 2008 2:00:06 PM

Okay. Help me here.

HC eliminates the gas tax.

To pay for the road work HC makes the oil companies pay the 18 cent gas tax.

So then the oil companies raise the price of oil enough to pay for the tax.

That price increase gets passed on the consumer, making up for elimination of the gas tax.

And the consumer gets what exactly?

Posted by: Adam | May 4, 2008 2:01:08 PM

How does she even come up with an economic policy without economic experts?? She thinks all this stuff up by herself? Right. That's why all this b.s. about Obama being inexperienced is just that. Once elected, they all surround themselves with 'experts'. HRC's 'experience' is in campaigning and backroom dealing. Obama has just as much experience in 'representing'. HRC remains -divisive-, Obama's change can get people together and pressure on those who won't come together to work on our problems. HRC is more of the same sh*tuff, different day... doesn't matter, she doesn't have the math to win anyway, an economist would have to explain it to her.

Posted by: RR | May 4, 2008 2:02:57 PM

You are correct Hillary.
Look at the economy and tell how the EXPERT econo mYstics have done so far!
We have gone under and who do you turn to... the same dopes that dug the hole.
Obama never has any solutions or plans.
If he does mumble some it has been said by others.
He inspires no one unless he has someone else to write a speech or he mimics someone else. He puts me to sleep when trying to get his tongue around a word! Never does he have any original ideas.

Posted by: HP Boston | May 4, 2008 2:04:28 PM

The problem I see with Hillary's plan is why just target the petroleum companies? A law like this would have to span all companies and corporations in order to be passed, and we all know this isn't going to happen. It's pandering plan and simple. She knows full well it'll never happen so she's safe in making this a standing point of her campaign.

Posted by: JustBuzz | May 4, 2008 2:04:34 PM

Gee. How very GWB of her. He didn't throw in his "lot" with the experts on WMD. He didn't throw in his "lot" with the experts on Iraq. He hasn't thrown in his "lot" with economists who warned about every facet of the credit and mortgage crisis we now face.

Couple all of that with her recent "with us or against us" comment, and I'd say the transformation is complete.

A vote for HRC is a vote for the third term of George W. Bush. Those of you who support Clinton - you wonder why Obama supporters can't stand her. THIS is why.

Posted by: RenaRF | May 4, 2008 2:05:28 PM

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