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How much is gasoline in your neck of the woods?

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christophersnow View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote christophersnow Quote  Post ReplyReply Direct Link To This Post Posted: June/12/2008 at 4:19pm


I just don't understand why gas prices are so high. I mean we tax away all the money made off of gas.
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masha99 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote masha99 Quote  Post ReplyReply Direct Link To This Post Posted: June/13/2008 at 4:08am
You lower the price by raising taxes, right? No? But that's what the senators are saying so it must be true.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gemtaur80 Quote  Post ReplyReply Direct Link To This Post Posted: June/24/2008 at 8:02am
Originally posted by christophersnow christophersnow wrote:



I just don't understand why gas prices are so high. I mean we tax away all the money made off of gas.


I'm trying to figure out what this means. I get that there is a tax on gas that adds to the price. But I don't get how that equates to us taxing away all the money made off of gas. Oil company's are posting 4+ bil in profit (not revenue, profit) per quarter completely separate from any amounts that are tax.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WhiteWolf Quote  Post ReplyReply Direct Link To This Post Posted: June/24/2008 at 9:53am
Simple. The government--okay, the senators and congressmen who like to make a point to their consittuents that they are making oil companies pay--are taxing the oil companies. Problem is, the oil companies never pay more in taxes, because the tax burden--as it is in any other field or condition--is passed on to and then payed by the consumer--us. Therefore the ammount of tax has little substantial relationship to the ammount of profit-not revenue, yes I get it--made by the oil companies.

This graph shows that record high gas taxes were reached during the Clinton administration (and Republican House and Sentate), sustained through the 1st term of the Bush administration, and has no relationship to oil industry profits.

Oil industry profits are dictated by the demands of the consumers, and in some cases our willingness to pay higher prices in any economic climate. You don't want the big, evil oil companies to keep making profits? Stop buying their product. Higher taxes do nothing but take more money out of your own pocket. Always.
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gemtaur80 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gemtaur80 Quote  Post ReplyReply Direct Link To This Post Posted: June/24/2008 at 10:55am
"profit-not revenue, yes I get it" I did the profit not revenue thing because some people I have talked to have assumed that number being as high as it was, was just income. Do not take that as me clarifying it for you specifically or talking down to anyone in any way.

I think more people are finally snapping to the fact that there is an added tax on gas, whereas many had never really paid attention. I don't think people are blaming that tax as being the primary reason for the high prices per se, just that it's another burden on top of an already rising expense. I am not defining oil companies as big and evil nor saying they should not make a profit. I would however say that I see that level of profit as excessive. I get that demand, the oil futures market, etc. are the drivers of the increases. However, I still am not seeing what the purpose is of maintaining that high of a profit level. And yes it's their perogative to sell it at what prices they want. I just couldn't be the guy seeing multi-billions in profits and trying to be straight faced while telling people to like it or lump it.
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