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| Right now, today, as you read this, everyone who pays taxes is being double-billed (plus interest) for taxes that were already paid once by anyone who bought gasoline in this country, citizen and non-citizen alike. The money to cash-in bonds held by the Highway Trust Fund is coming from the U.S. Treasury's General Fund of taxpayer receipts or money borroed on the pay-me-later plan. In 1997, the Department of Transportation told John Kasich's House Budget Committee that they were going to require all of the "holdings" of the trust in order to repair Interstate Highways. Revenue from gas taxes at the time was simply not enough for repairs of this magnitude. In 1998, the DOT withdrew $5 billion and almost immediately gas taxes went up. Largely attributed to Vice President Al Gore, the government raised gas taxes by four cents. The result was that gas taxes again began to produce a surplus that the government stole and spent elsewhere, substituting more bogus bonds in the trust fund and accumulating interest. In fiscal 2001 and 2002, repairs again exceeded gas tax receipts and the trust fund is being drawn down once again. We have paid $16.3 billion from income taxes or borrowing from investors (the credit card) between fiscal 2000 and fiscal 2004. And these were gas taxes (plus interest) that were paid by drivers previously. This is double taxation plain and simple, and it is continuing to happen right now. In 1997, I wrote Senator Richard Durbin (D-IL) and asked him very clearly and precisely where the money to cash in these holdings was coming from. It was not a difficult question and not something I really needed to know. I just wanted him to formally admit it. What I received from Senator Durbin in response was a $25 Library of Congress booklet on how to build Federal Highways, the codes and how to apply. I gave this book to a friend of mine in the construction business. Later, when one of the Senator's aides called to ask if I was satisfied, if I thought my question had been answered, I blew my stack at the poor kid. You are welcome to try the same thing with your own representatives, but don't expect anything more than a form letter and invitation to breakfast the next time you're in the District of Corruption. |
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HIGHWAY TRUST FUND
Fiscal 2008 (in millions) |
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HIGHWAY TRUST FUND
Fiscal 2007 (in millions) |
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HIGHWAY TRUST FUND
Fiscal 2006 (in millions) |
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HIGHWAY TRUST FUND
Fiscal 2005 (inmillions) |
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HIGHWAY TRUST FUND
Fiscal 2004 (in millions) |
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HIGHWAY TRUST FUND
Fiscal 2003 (in millions) |
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| Source: Taken Directly from U.S. Treasury Monthly Reports | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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HIGHWAY TRUST FUND
Fiscal 2002 (in millions) |
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