Posted on 12/08/2014 7:34:24 AM PST by BenLurkin
Gas prices, on average, are about 50 cents less a gallon than a year ago, giving a de facto tax cut and providing relief to millions of consumers as the holiday season kicks into high gear. However, a growing number of politicians have suggested that, given cheaper fuel costs, conditions might be ripe to hike federal taxes on gas in order to help fund infrastructure projects.
Rendell is one of those voices. He supports raising the federal gas tax—
(Excerpt) Read more at cnbc.com ...
” Here in CA there is a Democrat super majority that passed a $1.20 a gallon tax on gas a few months back.”
Has this gone into effect yet? I’m now in AZ, and Cal is already 60 cents a gallon higher than here.
The remaining voters have a difficult time getting their caboose to the booth to vote
I don't see pitchforks and torches anytime soon.
It builds in a $10/bbl advantage for domestic producers selling into the US market, which remains the largest market, and builds in a durable $10/bbl disadvantage for overseas suppliers. Naturally the oil would still flow in to cover what the US can’t (yet) produce, and the US gov’t would still collect about half that tax revenue that it does now. As you said though, the gubmint will still have to get out of the way, open up exploration as well as production in places like the ANWR. Since the import tax would be on any petroleum, crude (which is the lowest cost) would come in, and have to be refined here. As the petrodollar supply shrank in foreign countries, the value of the dollar would go up, and *that* would have a longer term negative impact on US petroleum production.
It applies the same as penalties to the refining industry.
We should not be asking the Federal Government to select winners and losers among our businesses. It is the same crap that gives us Solyndra.
If you believe import/exports taxes help US business, then apply it equally to ALL imports and exports. Don’t request the government to select who wins and who loses.
The most terrifying words in the English language are: ‘I’m from the government and I’m here to help.’
- Ronald Reagan
Not one penny of the $1.20 has been added yet. I think they will do it over time a dime or nickel at a time.
When I tell Democrats about this with the Democrat super majority you can see a look of concern on their face, I then present them with the fact that they can also see the Communist/Democrat connection with the Communist Party USA who always backs Democrats and their agenda.
Would communist being on your side seem a good thing?
Politicians never ask, “WHY do we have the RIGHT to Tax the citizen”, they always ask: WHY NOT TAX THE CITIZEN.....
Probably 51% that work do so for the state or feds. Then we also have a third of all welfare/disability and a pension liability into the billions that we can’t pay.
” I then present them with the fact that they can also see the Communist/Democrat connection with the Communist Party USA who always backs Democrats and their agenda.”
I noticed this a few years ago. Good point.
So tell me, Fast Eddie, what will happen when the price of oil goes back up-will the gas tax be reduced?
Never mind, I already know the answer.
Most of my family lives there. I wish what you were suggesting was true. I don’t know.
If it weren’t for government jobs, there wouldn’t be any jobs in CA. That’s powerful incentive to vote D.
They're counting on everyone to have short memories, and forget that a rise in fuel taxes was supposed to pay for infrastructure projects. This was supposed to be on top of all the other excise taxes we pay related to the purchase, use, and maintenance of our vehicles.
Relief to middle income people never lasts long.
What you said makes no sense, but I’ve heard something like it before, against bottle deposits — that the deposits should be levied on anything in glass, such as mayo. There’s no rationale for that at all.
And no, it’s not “the same crap that gives us Solyndra”, it’s a tax decrease, and it would favor domestic producers and domestic production.
The net tax on retail gallons would be halved, the difference in result would be due to where in the chain from wellhead to gas tank the tax is levied.
Oh why not, my Michigan GOP governor Snyder wants to double our own state gas tax.......This SOB is turning out to be worse than Granholm was........
We use exports to balance our refinery production against what we actually consume in the US. There are limits to how much you can swing the processes to maximize gasoline production and minimize products we don’t use as much. We use more gasoline than we refine, but we make more diesel than we use. And there is significant refinery leftovers that that cannot be economically used for most transportation fuels, like petroleum coke, Asphalt and residual oil.
The gasoline production is less than half the products produced from a barrel of oil. And you will make us uneconomic for production compared to refineries outside the US. For those, even if you still apply the import to gasoline, the non-US refineries have not tax applied to the other products. US refineries will close and we will lose our surplus refinery capacity and the jobs that went with it.
Investors in production have to stay below the balance point to avoid the taxes, leaving the US more dependent on imports.
Don’t ask the Federal Government to get more involved in selecting which industries benefit and which lose.
And when fuel prices increase again, the taxes will remain.
Rendell is just one jagoff, he can STFU.
I see no societal benefit to an export tax, but I would like to see a debate on a $1/bbl tax on oil imported by ship. Along with an authorization for the next president to increase that tax by $5/bbl if he deems it warranted. That would give the Saudis a reason to lie low and not rock the oil boat.Just a little dabble in Mercantilism, with the threat of more if we see our domestic producers getting whipsawed by market manipulations. OPEC deserves it after the Embargo. That was a long time ago now, but lest we forget. North American Energy Independence is within our grasp, and we shouldn’t let the opportunity pass.
Is that proposal intended to help fund an Import terminal in Mexico?
Asking the government to select the winners and losers in business is foolish. The best way the feds can help the industry is by reducing the roadblocks and taxes.
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