In 2010, the United States consumed about 3.28 billion barrels of gasoline. With 42 gallons per barrel, that’s 137.8 billion gallons. There are state and federal taxes collected at the pump. How much did government collect?
President Obama and Secretary Tim “TurboTax Screwed Me” Geitner approached the White House microphone today to bitch and moan about how much bank executives are getting paid, and announced a new tax plan to stick it to big-bank. The problem … big-bank will just pass along the tax burden to you.
Well, when you threaten an industry with an additional $13 billion (at least) in taxes per year, implement a new health insurance government run “option” to “compete” that will undercut the price of current premiums, and then tax the living daylights out of many current private plans, what the hell do you expect? Read more
I have no idea where this ship is heading. Obama does not want to drill offshore, but is now willing to drill offshore. He did not want to tap into the strategic petroleum reserves, and now he does. Haven’t the Democrats been saying that we can’t drill out of this problem? Didn’t they say that the only way to lower prices was to build windmills?
On top of all that, now he wants to bring back the windfall profits tax on “big oil” and use the money to give out $1,000 checks to people. Is he nuts? Corporations don’t pay taxes you idiot. Read more
The buyers are hurting you’d say, and you’d be right. But oddly enough so are many of the sellers. Yep, the gas station owners. Some are hurting to the point of going out of business.
The why of this, revolves around a business model that sets it’s profit in cents per gallon (about 8 to 12) and is limited in range by the need to compete with the station across the way. Nothing will prompt a fill-up at the competition faster than a sign with a lower price per gallon. Read more
In the last month, at least two members of congress, Maxine Waters (D-Calif.) and Maurice Hinchey (D-N.Y.), called for nationalizing the oil industry. Read that sentence again.
Can someone name for me any private industry that has been taken over by the government where service got better, quality improved, or costs went down? Certainly the government has stepped into a private sector industry and made things better. Maybe health care? How about the school systems?
Heck, the government is only partially involved in health care and education – both considered broken and in need of fixing – imagine if they took over completely.
At least that’s how the headline should read. Liberals have not learned anything in decades, all they know how to do is tug at the heartstrings of the working family and promote feel-good legislation that does nothing.
Point in fact; when you increase the tax burden on a business, the business is forced to make decisions. The business owners and leaders can choose to pay those extra expenses directly from profits (screw the shareholders or business owners), raise prices (screw the consumer) or cut compensation and benefits (screw the employees).