The Champion Gas Gougers
Congress held hearings yesterday on "gas gouging." Every Quarter we hear about Exxon/Mobil's latest record profits.
So, who's the bad guy? According to something called The Tax Foundation (taxfoundation.org) the average Local, State and Federal Tax total for a gallon of gas was $.45 per gallon in September 2005. Expressed as a sales (exclusive) tax that's a rate of just over 16% using $3.20 per gallon.
The Federal component is $.184. The average for the states is $.208. Local tax makes up the difference.
Also, keep in mind Exxon/Mobil is paying taxes. All of its suppliers are paying taxes which are included in the prices they charge E/M. And so on down the supply chain.
Our combined governments are the biggest gougers, by far.
4 comments:
Correct! Which is why the price gouging statutes being discussed will run out of gas (ahem) before anything comes of them.
But just today I found out about an Indian car manufacturer about to start producing an auto that runs on compressed air (the engine is made by a French company). I posted about it.
Everyone with a even the teeniest bit of sense knows the government has its lips so far up Big Oil's a$$ it has a permanent tan line around the lips. And we really believe the gov't is going to do something to help drive down gas prices?
Hah!
Debo Blue
In Tennessee, the gasoline tax revenue is dedicated straight to the highway fund, which is jealously guarded by road contractors throughout the state. The state has a goal to connect every county seat to an Interstate with a four-lane divided highway by 2015. Our schools are falling apart, but our roads never will.
Compressed air? This I gotta see...
Still no outrage that a gallon of bottled water costs about $7.00 at 7-11, or that decent single malt Scotch costs about $200 US a gallon.
Quit whining, folks. If you use a little less, you'll pay a lot less, but you don't want to.
As the old saying goes, no matter how you grasp the straw, you can't suck and blow at the same time.
Bob Johnson
www.odderpointofview.com
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