Your On-Line Port'o'Call
Page 3 of 3 < 1 2 3
Topic Options
Rate This Topic
#434549 - 09/10/08 10:07 AM Re: Oil industry corruption [Re: D-Rod]
Indyboater Offline
Admiral

Registered: 01/19/03
Posts: 2302
Loc: Indianapolis
Originally Posted By: D-Rod


That's WRONG.

I'm sorry to come across so polarizing but you couldn't be further from the truth, at the federal level.

The FEDERAL gas tax is 18.4 cents PER gallon of gas and 24.4 cents PER gallon of diesel. That's a FLAT fixed tax.


Your facts are correct, but I think you need to keep hitting the books.

You see, the Federal gas tax is only one element to the taxation on gasoline. As you know most states add on their cut - which can amount to another 9-18 cents or so. What many don't tell you is that many of the largest, and smartest states also add on sales tax of between 4 and 11%. This includes California, Michigan, New York, Illinois, Georgia, and many others. Some don't even admit that they collect sales tax on gasoline, but they do, they'll just say they collect sales tax on everything, excluding prescriptions, or food, or whatever.

BTW, when you pay sales tax on gasoline, you are paying that sales tax on the 18.4 cents of Federal tax and the 9-18 cents of state tax - which is illegal, but States do it anyway.

Now lets talk about corporate income taxes. Remember those $Billions you heard they made last quarter - well, it's so much that they can't possibly write it all off, so they'll pay a good bit of it in taxes. But here's what you don't hear about - that's just the oil company - what about the Refiner and distributor - Check out the profits that Valero made last year. What about the station itself - yup, they made a profit. All through the chain it drives taxes.

Now let's talk about other things oil drives - noticed that your pizza bill is higher this year? Guess what - oil prices drove it up. How about that airline ticket? Do you think that affects sales taxes any? Do you think that companies need to raise wages in order to meet these higher oil and food prices? Oops, more income taxes.

Read around - the rise in oil prices is a big boon to government revenues.

Now you can go back to sleep...

Top
Sponsered Ad
#434553 - 09/10/08 10:18 AM Re: Oil industry corruption [Re: Indyboater]
Admin Administrator Offline
Admiral

Registered: 12/15/02
Posts: 2613
Loc: Cyberland
Deleted last posting.

I tire of repeating myself.

Keep it civil or take it elsewhere.

I am unlikely to give this warning again.
_________________________
Mike

BoatingABC.com

Top
Page 3 of 3 < 1 2 3


Moderator:  Admin, Finger Lakes Boater, Opus 
Google Search
 
Who's Online
0 registered (), 4 Guests and 11 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
gwood, JUSTICEFURALL, brianford30, Doubles, bostonchris
4104 Registered Users
January
Su M Tu W Th F Sa
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
New Topics
I hate it when this happens........
by GoFirstClass
Yesterday at 07:18 PM
Palm Pre
by etyppo
Yesterday at 05:44 PM
Interesting choice for an ad campaign name
by Rocnat4
Yesterday at 03:38 PM
apples new software
by rollofire
Yesterday at 10:33 AM
ENOUGH!!
by Andyk2
01/07/09 09:12 PM
After many years, finally a boat name!
by casualboater
01/07/09 09:01 PM
Tenn - Tom waterway
by Andyk2
01/07/09 06:58 PM
Bass boat ?
by Rocnat4
01/07/09 01:30 PM
No sleep in our house tonight
by GoFirstClass
01/06/09 09:43 PM
Hello All. Questions) about First Boat
by Doubles
01/06/09 07:58 PM
Forum Stats
4104 Members
26 Forums
29916 Topics
448724 Posts

Max Online: 162 @ 04/30/07 11:57 AM