The Nation: THE GAS-GUZZLER TAX

Some other, possibly euphoric, examples of the effect on consumers of Carter's energy proposals: the President himself calculated that if his stand-by gasoline tax rises to 25¢ a gal., a family of four driving 10,000 miles a year in a car that gets 27 m.p g. would pay $91 more a year for gas, but would get back $500 in income tax credits. A homeowner who puts in $2,200 worth of insulation theoretically can pick up a $410 tax credit free. If Carter's program passes, the homeowner can arrange financing through his utility, which will add repayments to his monthly gas...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!