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Green in two senses of the word

By Owen Paine on Thursday February 16, 2006 03:55 PM

Here's a pair of offsetting fiscal moves that would help both Greenies and wage-workers too. Maybe you can run this up your your local Democrat's flag pole to see if it gets a salute: a $2-a-gallon tax on gasoline whose proceeds reduce dollar-for-dollar payroll taxes. Pour the revenue into the SSI trust fund and offset it by cutting the SSI tax rate.

Start with a generous tax cut upfront, of course. Then apply the tax. Do a rolling adjustment. This is one program with a long enough flight path to allow erring on the side of an overcut to begin with.

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