> >> Higher gas taxes, however, could be rebated through an
> >> income tax credit for the lower brackets.
What percentage of those lower quintiles itemize their deductions? Or would you lower the rates of the lower brackets?
> By the way, I was reflecting on the fact that the fancy shopping bags
> used by the splendid fancy NYC food market Citarella
> <http://www.citarella.com/> are made in China. We usually throw them
> away, try as we do to find secondary uses. The fact that disposable
> plastic bags are transported here from China suggests to me that even
> now, at over $60, oil is way too cheap.
Oil and gas run the furnaces that are used for heating in all sorts of manufacturing facilities. Higher costs here would require such firms to cut costs in other areas - like eliminating pensions and offshoring. Manufacturing moves its raw material and final products via truck, and higher fuel costs raise those costs too. With the same disastrous effect for the working class.
I suppose those of us working in manufacturing can move to the various Megalopolises and became cooks and waiters, which is where the job growth seems to be.
Matt
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