Whether they know it or not, when Americans say, "Fill 'er up!" at the pump, they are getting one of the great retail bargains anywhere. That's because they pay just 14 cents per gal. in federal gasoline taxes, in contrast to more than $2 per gal. in Europe and $1.75 in Japan. The very cheapness of gas, however, makes it an ideal target for a government bent on stopping a runaway deficit. Gas taxes, which are both easy to impose and could generate large revenues, have gained some surprising support: Ross Perot got high- octane mileage from that idea in his...
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