Friday, August 08, 2014

This graph tells us a lot!

Thank to Guy Pfeffermann for identifying this post from the blog An Economic Sense: Its the Economy Stupid.

The graph speaks for itself.

The U.S. infrastructure is deteriorating. In other countries, investment is not only maintaining the infrastructures based on older technologies, but is adding high speed rail, safer electric grids with more renewables used in electrical generation, better broadband communications networks, etc.

Part of the problem is that people have thought that increasing tax rates was equivalent to increasing taxes. Thus as cars became more efficient and got better gas mileage, unless gas tax rates were increased the revenue from gas taxes decreased. Thus failing to raise gas tax rates reduced gas taxes. 

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