Raise the Gas Tax Before It's Too Late

If electric cars take over, there won't be much left to tax.

A taxable event.

Photographer: Daniel Aker/Bloomberg

On Monday, I discussed why Tesla's latest announcement was big. The electric carmaker said it planned a modification that would give its autos the ability to accelerate faster than cars that cost two to three times more and keep up with those that cost 10 to 20 times more. That's an astonishing accomplishment. I made the supposition that if you squint, you can see the beginning of the end for gasoline-powered internal-combustion engines. They won't go away for a while, but they have a credible challenger in electric-battery-powered vehicles.

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