CMU professor: Double the price of gas

Think the price of gasoline is too high right now?  Lester Lave, an Economics professor at my university, doesn’t think so.  He says the government should impose a $3.50 per gallon tax on gasoline, which would roughly double the (already high) price.  The government would spend the money to give roughly $1240 to each wage earner, by lifting the social security tax on the first $20k of income.

Lave says this would boost the economy.  (It’s hard to type that without laughing.  Fortunately I don’t have to.)

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