Wall Street Journal Watch

WALL STREET JOURNAL WATCH….Brad DeLong has a long post today about Greg Mankiw’s recent Wall Street Journal op-ed endorsing higher gasoline taxes. You should read the whole thing (it’s an interesting discussion), but since this is a weekend I just want to highlight the objection raised by the estimable Scott Hodge, President of the Tax Foundation:

The French have some of the highest gas taxes in Europe yet remain 100% dependent on foreign oil.

It’s true! There are no oil fields anywhere within the boundaries of the French Republic, which necessarily means that if the French use even a single liter of oil, they will be 100% dependent on foreign oil. For the same reason, the United States remains dangerously dependent on foreign supplies of cocoa beans, bananas, and high-quality Gouda cheese.

Scott Hodge apparently has a low assessment of the IQ of the Wall Street Journal’s opinion page readers. The editors of the Wall Street Journal opinion page seem to share this assessment. I wonder if their readers know this?

Support Nonprofit Journalism

If you enjoyed this article, consider making a donation to help us produce more like it. The Washington Monthly was founded in 1969 to tell the stories of how government really works—and how to make it work better. Fifty years later, the need for incisive analysis and new, progressive policy ideas is clearer than ever. As a nonprofit, we rely on support from readers like you.

Yes, I’ll make a donation