Gas Tax May Help Home Business
Falling fuel prices may seem like good news for entrepreneurs. But a properly designed gas tax could be even better.
(FSB Magazine) — Like many entrepreneurs, Tedd Saunders finds most taxes annoying. He co-owns seven East Coast hotels, including the Lenox in Boston, and would love to see the estate tax gutted. He also rankles at a hotel room tax levied by lawmakers in his home state, dubbed “Taxachusetts.”
Yet Saunders supports a higher tax on gasoline - even though it would raise costs for his employees who commute to work by car and might boost prices charged by his suppliers.
Says the hotelier: “We need to make tough choices to reduce our dependence on foreign oil and to recognize this looming crisis of climate change and what it will do to our lives and our businesses.”
As FSB went to press, the cost of gas had plummeted 26 percent since July, to a national average of $2.21 a gallon. In the past that would have been considered good news, but the reaction today is decidedly mixed. In a recent New York Times/CBS News poll, 59 percent of respondents nationwide said they would support a gas tax if it would result in less fuel consumption and less global warming.
Read Full Article from Fortune Small Business
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