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Topic: Chilean government slashes fuel
tax as gas prices continue rising |
Chilean government slashes fuel
tax as gas prices continue rising
Santiago Times [Santiago, Chile], by Amelia Duggan
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Original Article
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Posted By:PageTurner, 2/27/2013 2:55:56 PM
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| Finance Minister Felipe Larraín confirmed Tuesday that the government would significantly drop the gas tax this week via its Sipco mechanism, which reduces fuel taxes when gas prices spike strongly. The announcement will come as welcome news to Chilean motorists, who have seen the price of regular 93-octane fuel rise nearly 9.9 percent from US$5.41 per gallon in November to US$5.95 per gallon last week. The Sipco requires gas prices to rise 10 percent over a period of one month to a year in order for the tax rebate to kick in.
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Comments:
That´s the way ya do it. Too bad California is completely opaque to the concept.
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Reply 1 - Posted by:
droopydog, 2/27/2013 3:37:17 PM (No. 9199459)
I may be wrong, but I believe the chilean govt has a few Milton Friedman proteges in high places. There public pension system is a model for the world.
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Reply 2 - Posted by:
snowoutlaw, 2/27/2013 4:19:35 PM (No. 9199531)
Very bad idea. By reducing the power of higher prices to reduce demand they are only going to get even higher prices than they normaly would have. Supply and demand works and messing with either one will never have good results.
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Reply 3 - Posted by:
PageTurner, 2/28/2013 3:18:43 AM (No. 9200227)
#1: You are not wrong. You are 100% right.
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