Frederick W. Smith, CEO of FedEx, had a lengthy discourse with President Obama Tuesday at the Business Roundtable meeting and urged Obama to raise the nation's fuel tax by fifteen cents per mile.
In their discussion, Smith promoted a law being sponsored in Congress which calls for the tax increase as well as an eventual road usage charge. Being the CEO of one of the largest transportation companies, one might assume that the likes of Smith would oppose such a drastic fuel tax increase.
Keep in mind that this fifteen cent per gallon tax increase will not just penalize commercial drivers, but will effect all Americans because it includes a fifteen cent tax increase per gallon on regular gasoline too, not just diesel fuel.
Independent truck drivers would surely oppose such a measure, as it would cut into their profits substantially. But that doesn't concern ivy league oligarchs such as Smith, who's a 1996 Yale grad, Skull & Bonesman, and pal of George W. Bush and John Kerry.
A friend advises me that Smith is also a board member of the Cato Institute.
Martin Hill emails:
Bob it appears Fred smith is not on the Cato board, altho he's had long involvement with them. http://www.cato.org/board-of-directors if that were the case, my headline would be 'CATO BOARD MEMBER SEEKS 85% TAX INCREASE AROUND AMERICAN TAXPAYERS NECKS. BECAUSE 85% of 18 cents (the current gas tax) is 15 cents, the increase which smith begged obama for.
Here's an example of what that increase would mean to truckers. Say a trucker goes a typical day of 500 miles minimum. Divided by 6mpg (if they're lucky) equals 83.3 gallons diesel per day. That's $12.49 per day, or $375 per month, or $4500 anual. F these MFers! The govt claims it needs $2 trillion for the highway trust fund. Why don't they ask rumsfeld, who announced 2.3 trillion missing from the pentagon budget on 9/10/01! Now they want to take it out of our ass! Man this country is really something else