Illinois not only has an excise tax (greater than the fed's), but also applies a state sales tax. Chicago then tacks on more.
At a pump price of $2 per gallon, total taxes eat up 30-40% of the price. And the politicians are talking about a tax hike?
Posted on 01/09/2015 8:10:11 AM PST by SeekAndFind
For 32 years I’ve been advocating a major tax on petroleum. I’ve got as much chance this time around as did Don Quixote with windmills. But I shall tilt my lance once more.
The only time you can even think of proposing a gas-tax increase is when oil prices are at rock bottom. When I last suggested the idea six years ago, oil was selling at $40 a barrel. It eventually rose back to $110. It’s now around $48. Correspondingly, the price at the pump has fallen in the last three months by more than a dollar to about $2.20 per gallon.
As a result, some in Congress are talking about a ten- or 20-cent hike in the federal tax to use for infrastructure spending. Right idea, wrong policy. The hike should not be 10 cents but $1. And the proceeds should not be spent by, or even entrusted to, the government. They should be immediately and entirely returned to the consumer by means of a cut in the Social Security tax.
The average American buys about twelve gallons of gas a week. Washington would be soaking him for $12 in extra taxes. Washington should therefore simultaneously reduce everyone’s FICA tax by $12 a week. Thus the average driver is left harmless. He receives a $12 per week FICA bonus that he can spend on gasoline if he wants — or anything else. If he chooses to drive less, it puts money in his pocket. (The unemployed would have the $12 added to their unemployment insurance; the elderly, added to their Social Security check.)
(Excerpt) Read more at nationalreview.com ...
Illinois not only has an excise tax (greater than the fed's), but also applies a state sales tax. Chicago then tacks on more.
At a pump price of $2 per gallon, total taxes eat up 30-40% of the price. And the politicians are talking about a tax hike?
can we say “eat shi’ite and die libtard scum” or is that over the top?
Actually my post wasn’t directed at you even though you were in the To: column. It was a general post about the amount of taxes we are inundated with. IOW, we don’t need more taxes. It’s a spending problem that unfortunately they will never try to fix.
...because screwing with the market always works, and has no negative consequences...right?
A nice thought, but anything that gives them more interest in gaining control over prices is a very very very bad thing.
Libs just love taxes.
Once an idiot Mondale Democrat....
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