How will the government try to recover tax dollars when we convert to alternative fuel cars?
Question by Ken L: How will the government try to recover tax dollars when we convert to alternative fuel cars?
Let’s face it – weather it’s electric, fuel cell, hydrogen… whatever, our government makes a bundle in tax revenue when we fuel up! Since we’re now in the “save the world police/banking” industry, what happens when revenue shrinks due to citizens making better choices? When we stop buying so much gas, will it starve the monster we created? Will it eat us?
I hate robot answers…
Best answer:
Answer by Pfo
Probably by raising taxes. If the government expects a certain level of income, and the playing field changes, they will react. Keep in mind most 401Ks and investments are in oil, it’s not just the oil companies making money. Most Americans are funding their retirement on the back of oil company’s successes. While alternative energy provides numerous benefits and appears to be the better choice, it is not a bed of roses.
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