Letters to the Editor
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What a misleading title!
The body of Obama's argument consists of more than what you've covered. You use the phrase "if properly implemented". What you should be saying is "if the Republicans pass it."
Which is highly unlikely. No self-respecting (self-serving) Republican would pass a windfall profits tax on oil companies. I can't imagine the weight of the veto that would be dropped on that bill, but I imagine it would be the size of an elephant.
Which means - and what you've failed to note - is that the 8 billion (which may or may not be passed on to the consumer, but which you yourself have estimated to be approximately five (5) cents) would be taken away from roads, highways, bridges, and American jobs. 300,000 American jobs, to be precise.
Are you - or any other decent American - willing to take that risk for five measly cents or - in a dream world - $70? Now over 200 economists are against a national gas tax suspension, including four Nobel prize winners. This should give Americans some clue that the gas tax is a bad, bad, bad idea.
What kind of country are we now living in, where those with the highest education - the ones who know most by action, by study, and by merit - are labeled as elitist and written off? I was always taught to respect wisdom, and if anyone possesses economical wisdom, it would be a body of 200+ economists, including four men who've won Nobel prizes precisely for their knowledge on situations like this.
This title is deceptive, your assertions are specious, and any one layperson who believes they know better than 200 qualified economists is obviously experiencing signs of delusion and megalomania.