Some modest proposals for our new president; Let's start with a $5-a-gallon gas tax.

• Author: Adams, Tucker Hart
• Position: [the] ECONOMIST

Dear Mr. President:

Now that the seemingly endless campaign is finally over, it is time for you to figure out what to do with this mess you've inherited. I know you will welcome some advice.

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Let's begin with energy policy. The first thing you need to do is impose a $5-a-gallon tax on gasoline. The gas tax is a good one, as far as it goes, because it is used to provide highways and is imposed on the users of those highways. But it doesn't go far enough. It is critical that we internalize the pollution and other costs created by automobiles.

If the $5-a-gallon tax produces too much revenue, you can use any extra after you've cleaned up pollution, paid for traffic police, highway maintenance, etc. to encourage alternative forms of energy and public transportation. Of course, as soon as we stop subsidizing the automobile, people will happily switch to public transportation, since it will be so much cheaper than driving.

The huge building program this demand will create will put all those recently unemployed Wall Street types to work, after a bit of retraining for their new careers. There will also be enormous demand for jeans, work boots, hard hats and such, creating jobs in manufacturing and retail sales.

Then you need to impose a high tax on bottled water. Five dollars is a nice, round number, don't you think? With the new tax, we'll get rid of the pollution caused by producing and disposing of the plastic containers. We have perfectly good water coming out of our taps; let's drink it. Tap water doesn't have to be shipped, so that will have the added benefit of reducing the number of big trucks on our highways.

And speaking of highways, you need to lower the speed limit to 55, with high fines or perhaps the immediate loss of license, for anyone who disobeys. Do you realize we can reduce gasoline consumption by 20 percent just by driving 55 instead of 75? I've tested it myself and can make five trips on a tank of gas between Colorado Springs and Denver instead of four. I think people really appreciate my contribution to reducing global warming because they often honk and wave.

You also need to take a look at our overall taxing and spending...