Rantings and tirades of a frustrated economist.
Love the charts, but maybe I haven't had enough cafeine this morning... Are the charts % of the price of a gal, or actual amount of taxes/gal... Makes a bit of a difference, coming from Illinois with the 50% or $.50... Still a LOT of money going to the government coffers...
You may be amused by this anecdote from yesterday (Friday); a friend of mine from Wisconsin is in town, and while we were driving about, he actually took pictures of the fact that gas was under $3 a gallon at several stations to show to his folks, since in the Green Bay area, it's all at $3.42.He spent the next thirty minutes blowing his stack about the Wisconsin "anti-gouging" laws, to my amusement.
Please note the correlation between gas taxes and economic performance. You'd think some people would take the hint.
There is indeed a huge impact from high gas taxes on the economy. Every good has to be transported somehow, so everything gets pricier. This is a huge problem especially in Europe, where gas taxes are at over $3 per gallon.Does anyone know if a study exists which compares the benefits of reducing CO2 emissions from cars through higher gas taxes with the loss of money which the industries could spend for developing more efficient technologies to reduce emissions permanently.
I do not. I've been out of it for the past 9 months with busy season, should be coming to an end here pretty soon.
Does anyone know how much per gallon the Feds take?Also, if you think about profitability of oil companies -just looking at gross numbers Exxon's net after tax profits were less than 10%--or at $3.50/gallon then less then 35cents per gallon profit which is less than the majority of states take in on taxes (and the states don't have exploration costs, dryholes, financial risks, or angry shareholders). So who's windfall is it really?
I think the comparison that needs to be made here is how this money is being spent on crumbling roads and the transportation infrastructure in general. That is what this money is supposed to be earmarked for isn't it? Unlike the Felony Reserve's illegal income tax, it is properly apportioned. Gas tax that actually maintains and fixes roads is the least offensive and most fair type of tax there is in my opinion, if it's actually used efficiently for what it was intended for. Many states (including mine) fail miserably at this test, but that isn't the gas tax's fault!
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