VIDEO: The Holiday Gas Tax Explained

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Feel the pinch every time you visit Exxon (XOM)? Both Hillary Clinton and John McCain feel for you and have proposed a summer suspension of the 18.4 cent federal gas tax. Meanwhile, Barack Obama is against the break. He says the proposals are "calculated to win elections instead of actually solving problems."

Whether you are for or against, the real story about the gas tax is that “it doesn’t really matter from a financial point of view,” says TheStreet.com’s political correspondent, John Fout, in this interview with TSC’s Alix Steele. 

According to Fout, McCain realizes that George H. W. Bush lost to Bill Clinton in ’92 because Bush failed to show sympathy for voter’s economic problems. Clinton and McCain apparently took note; will their moves cost Obama voter support? Learn more about the possible suspension of the gas tax by watching this video.

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