Tuesday, December 11, 2007

Gas Prices

The Common Tragedies blog has a very interesting graph showing US gas prices as a function of per-capita wealth for the last several decades. Have a look at the graph, but bottom line is, gas prices have been falling as a percentage of personal wealth for decades.

LESSON: The United States can afford higher gas taxes. Significantly higher gas taxes. Well, at least the upper- and middle-classes can.