Hillary and McCain showed themselves to be of the same timber today in suggesting that we should institute a Gas Tax Holiday. This is a foolish idea, but it gives Obama a crucial opportunity to show his progressive leadership. McCain will simply allow the revenue to dissapear, while Hillary suggested a windfall profits tax on oil producers, an idea which has a difficult history.
Economically, the tax holiday concept has proven to be a lemon. By engaging in this sort of pandering, the other two campaigns are showing themselves to be practitioners of politics as usual.
This is an opportunity for Obama to show real leadership. As opposed to a windfall profits tax to counteract the effects of the rather foolish tax holiday, Obama should consider a proactive solution to the real, overarching problem. Perhaps a tax on the excess production of fuel over say, 1990, levels. More on that another time.