Should America drop gasoline taxes when prices are high?
And how does "America" drop gasoline prices? Nationalize the oil/gas industry and then set price controls? Because that works well elsewhere in the world.
Dropping the tax would be a nice start, however it's not all federal tax. The states levy an additonal tax on the sale. Unfortunately that would still not put a big enough dent in the problem. Much of this is still the fact that the US is subject to OPEC manipulation. And an even larger part is currency driven. Our weaking dollar over the years has driven up numerous commodity prices. However since the Gov't is so irresponsible at nearly every level with the revenue it collects, I guess I am in favor of nearly every tax reduction possible.
The taxes on gasoline pay for certain things like road maintenance and repair - so if they dropped the taxes that money would have to come from somewhere or we'd be back on dirt roads.
Since that won't happen because Federal, State and Local Governments need this revenue too badly. I would rather see the Federal Government restrict trading in oil by investors, eliminating futures contracts, as needed for National Security. I cannot say where, but I believe that I remember a study stating that about 30% of the cost of oil is caused by futures investment speculation. That would result in a much greater price drop in gasoline than the Government taxes combined.
by Tony Lawrence 6 years ago
Is nobody going to call Peter Schiff on his "I pay 50% tax" crap?Recently, Peter Schiff marched into OWS and confronted demonstrators, claiming that he pays 50% of his income to taxes. Unfortunately, the OWS folks did not respond intelligently (at least the ones I saw). They...
by ptosis 7 years ago
Are you planning on hoarding on gasoline before the prices go up even further?Volatility in gasoline prices: Give your prediction of peak gasoline prices for March 2011Last week I filled up tank @ $3.12 and in 7 days it's now $3.25. The prediciton was a peak price of $3.24. I predict $4 in March...
by Grace Marguerite Williams 11 months ago
Do you feel that you are taxed too much? Are you for less taxes? Do you also feel that the government use taxes as a subterfuge for their oftentimes wasteful spending?
by WorldCup~2010 7 years ago
We are talking about Wal-Mart at school right now and there are two sides to this story. The bad side is how Wal-Mart is moving all of their manufacturing jobs over seas which ends up having a negative effect here in America. But also, Americans are getting rock bottom prices on most goods Wal-Mart...
by Timothy Brakhage 6 years ago
Why are cigarettes so expensive now days? With the cost of gas prices going up to $3.75 per gallon and the shipping cost for postages on the rise, this explains a part in prices going up. However Marlboro is one of the companies that are producing a same quality of cigarette. Marlboro blacks seem...
by Gary Anderson 6 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto … rum-2012-3Here is my response. We can thank libertarian thought for the...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|