Posted on 11/27/2015 8:00:49 AM PST by SeekAndFind
In April 2014, I suddenly realized that when you buy gasoline, the receipt does not list all the different taxes you have to pay.
So I emailed the Illinois Policy Institute (https://www.illinoispolicy.org) and asked them to make up a facsimile of a gas receipt.
Here's what they came up with, and they featured it in a story on their website.
Turns out a gallon of gas in Chicago has eight taxes on it. In Park Ridge adds two cents more. (I think today they are higher.)
I went to a neighborhood gas station – the owner was a nice guy. I asked him if people get angry with him when gasoline goes up in price.
He said of course they do. I said, "Why don't you put a sign in your window, listing all the taxes they customers are paying on a gallon of gas?"
He said, "That's illegal in Illinois. I would get fined and could lose my gas station!"
(Excerpt) Read more at americanthinker.com ...
Then you here the scoundrels cry that we need to build roads, bridges and infrastructure.
This illustrates why I am so against the “fair tax” on consumption. Consumption taxes are usually hidden, and give politicians wonderful cover from which to bleed you dry.
right... profit and expenses are just numbers. Revenue is a fact.
Property taxes too.
And yet, with all of the gas taxes, they still keep adding toll roads. The problem isn't that there are not enough taxes, the problem is that there is too much social spending. The more social spending there is, the less money there is for legitimate government functions like roads and bridges.
BTW, I think you mean "hear" and not "here."
I just love the picky differentiation between sales and excise taxes in this example. According to the dictionary definitions, sales tax is an ad valorem tax which means tax on the value of the purchase. An excise tax is a tax on the amount sold so the difference is OBVIOUS, right?
So you have the Illinois State Sales Tax of $0.22 (x 15g = $3.30) and the Excise Tax of $0.19 ($2.85) ...
I’m confused but, of course, that is what and how the government types want me to be!
Reminds me of an old cartoon from years ago in which all the taxes are listed. The last tax was...Carpet tacks (tax).
I remember seeing signs like that when I was growing up.
Hogs at the trough are sensitive about their appearance.
Who knew?
It might well be that it is illegal to post taxes on gas out there. Here in Blue Delaware we were forced into recycling which jumped our collection costs but the haulers, by law, are not allowed to break out what the recycling scam is costing us.
Here in the Great White North, we do see it.
i can remeber them at 90 cents a carton
Thanks for the belly laugh...cough,cough, wheeze.....
you make a valid point but explorers also get deductions on dry holes and a million other expenses. Once you have a working well, which those deductions are a factor in it coming about in the first place,is when the tax situation get crazy.
No numbers because i’m not doing all that work although probably very available online.
Company with a producing well has income. they pay taxes on that to every jurisdiction possible. The refiner pays a tax on their income. Those trucks you see at the gas station delivering oil? They too pay taxes.The gas station, independent or whatever, they pay several taxes.
Every step of the way is taxed. The people working for these companies, some on Freep i imagine, they pay taxes on their income too.
Finally, to show you the magnitude of what everything add up to.
“An oil barrel (abbreviated as bbl) is a unit of volume whose definition has not been universally standardized. In the United States and Canada, an oil barrel is defined as 42 US gallons, which is about 159 litres[9] or 35 imperial gallons,[10] and it can also be defined in those units, depending on the context.”
Today the cost of a barrel of oil is roughly $42.00 per barrel making the math easy. Its $1.00.
Also,”(Reuters) - The average price of gasoline in the United States resumed its slide over the past two weeks, dropping 11 cents to $2.14 a gallon, the lowest since late January, according to a Lundberg survey released on Sunday.”
So the markup, taxes, profits. is currently 107% to the retail customer.
I just did more work than i intended to.
True. Gas taxes are levied as fixed amount per gallon, not as a percentage of the sales price.
Some locals have a sales tax on fuels. It is percentage based - not a fixed rate.
Right now, 47% of âmyâ income is stolen by taxes.
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Mine used to be in that neighborhood, then I retired, less income, less tax. Then my wife and I adopted two children and I didn’t even think of the difference it would make in taxes. When I filed my taxes the first time after the adoption, I found that I got more than $7,000 refund.
I’ve since adjusted my withholding rate. I don’t like the I.R.S. holding my money interest free.
Same as cigarettes. 10 cents for the product, 5 bucks for taxes. People are mostly dumb. We intelligent people realize there is a near 100% tax on gasoline. But if the dummies learn that their gas taxes are the reason gasoline is so high they’d riot. I’m amazed they still fall for the “OH BOY A TAX REFUND” scam from the irs.
Also note that a barrel of oil - 42 gallons - produces a smaller amount of gas because of the refinery process. So you are losing some quantity converting oil to gas, its not a 100% conversion process.
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