Should America drop gasoline taxes when prices are high?

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  1. arizonataylor profile image78
    arizonataylorposted 12 years ago

    Should America drop gasoline taxes when prices are high?

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  2. oz-vitez profile image59
    oz-vitezposted 12 years ago

    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.

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  3. LandmarkWealth profile image68
    LandmarkWealthposted 12 years ago

    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.

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    1. arizonataylor profile image78
      arizonataylorposted 12 years agoin reply to this

      Yes!  Finally, somebody is mentioning our weak dollar.  It's hard to purchase imported goods at reasonable prices when the dollar's value is so low.

      Well put.  Best wishes.

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  4. duffsmom profile image59
    duffsmomposted 12 years ago

    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.

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  5. Mark C Middleton profile image59
    Mark C Middletonposted 12 years ago

    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.

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