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From: TimF	8/11/2008 12:03:59 PM
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Obamanomics Don Boudreaux Here's a letter that I sent to the Aurora (Illinois) Beacon News: Barack Obama proposes to deal with rising gasoline prices by giving a $1,000 "emergency rebate" to consumers - a rebate to be paid for by taxing the so-called "windfall profits" of oil producers ("Obama pitches $1,000 energy rebate checks," August 2). In other words, a critical part of Sen. Obama's strategy for reigning in high gasoline prices is to subsidize gasoline consumption and more heavily tax its production. This plan - which increases the demand for gasoline and reduces its supply - makes as much sense as trying to put out a fire by dowsing it with jet fuel. Sincerely, Donald J. Boudreaux cafehayek.typepad.com

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