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gas tax relief ?

Discussion in 'General Industry Discussions' started by ffemt1271, Apr 15, 2008.

  1. ffemt1271

    ffemt1271 LawnSite Bronze Member
    Posts: 1,285

    Associated Press - April 15, 2008 10:43 AM ET

    PITTSBURGH (AP) - John McCain is laying out some ideas for getting the economy headed back in a positive direction.

    At the top of his list is lowering the price of gas. The likely Republican presidential nominee is proposing a "gas-tax holiday," suspending the federal gas tax from Memorial Day to Labor Day. The tax adds 18.4 cents to a gallon of gas and 24.4 cents to diesel fuel.

    McCain also called on the federal government to stop adding to the Strategic Petroleum Reserve, in an effort to lessen the worldwide demand for oil. He said the proposals would lower the price of gas and that would have a trickle-down effect throughout the economy.

    Speaking at Carnegie Mellon University in Pittsburgh this morning, McCain also made some longer-term proposals, including doubling the tax exemption for dependent children and offering people the option of choosing a simpler tax system.

    Copyright 2008 The Associated Press. All rights
  2. Lawn-Sharks

    Lawn-Sharks LawnSite Senior Member
    Posts: 912

    If that happens im buying a couple 55gal drums and filling them up!:cool2:
  3. Charles

    Charles Moderator Staff Member
    Posts: 7,879

    Gas tax is what pays or is suppose to pay for road and bridge repairs. We have 1000s of bridges across the country that are way past their life span. More than a few have collapsed lately
  4. GreenthumbGA

    GreenthumbGA LawnSite Member
    Posts: 191

    "No new taxes"
  5. Dave_005

    Dave_005 LawnSite Senior Member
    Posts: 359

    The problem with gas prices has nothing to do with the gas tax which pays for roads construction/repairs. the problem is GREED !!!! Oil companys that made 123 BILLION DOLLARS IN PROFIT Last YEAR and the Politicians who have thier hands out to the oil companys have no intention of doing anything Real. all they need to do is put a cap on gas prices ! And make the oil companys pay a WINDFALL TAX on that 123 BILLION DOLLARS Profit ! it has to do with nothing but GREED !!!
  6. Roger

    Roger LawnSite Fanatic
    Posts: 5,920

    Dave_005: What defines a WINDFALL? Why target the oil companies for high profits, and leave others alone? The profit margin for the oil companies is about 8%, whereas many, many other well-known companies have much higher profit margins. Why not assess a windfall profits tax on all those above the oil companies on the profit margin list?

    With regard to a "cap on gas prices," who makes the decision on the cap? How does the cap relate to the global commodity exchange for trading crude oil? The "they" in your statement undoubtedly means government intervention, right? If government is asked to regulate prices, what other commodities do you want the government to control? The grain and corn prices are at all-time highs right now, would it be a good thing for the government to control these prices too?
  7. Charles

    Charles Moderator Staff Member
    Posts: 7,879

    I ain't buying this 8% profit margin business. The oil companies were saying that when prices were at $1.25. Now its way over $3.00 and in some places its over $4.00. Pretty sure they are manipulating the numbers. Probably paying Execs and employees more? Or mismanagement? Dunno and don't care. Oil companies are a monopoly. They own from the refineries on down to the gas stations now. They keep their prices from station to station so close that it is not economically sound to shop around. They have no competition.
    Congress does this song and dance once a year with hearings that are phony. The oil companies own our government with their campaign contributions and high paid lobbyist. So Congress goes through a charade for public consumption once a year where they pretend to care.
    The price of oil is even more important because it effects the price of many other products and services. Airlines just announced they are raising their rates even higher. We have to raise our rates and on and on and on
  8. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    At least the high price of fuel makes us all think twice before we get into our cars...
    I'm not trying to sound off but it does help, both in terms of conservation and to keep global warming down.

    If nothing else, we get that much out of it.
  9. Saltydawg

    Saltydawg LawnSite Member
    Posts: 48

    Barrels of oil are a globaly traded commodity. If the US government caps the ammount they sell for here the oil companies will just sell it to China or other parts of the world.

    As much as I'd like to see fuel prices come down I don't think it can happen. It's an election year and both sides of the isle are going to dig their feet in and not allow anything threw that the other side could trumpet as an election tool.
  10. GravelyNut

    GravelyNut LawnSite Bronze Member
    Posts: 1,594

    Take the price of a barrel of oil. $115 today. Divide it by the number of gallons in a barrel. 42. That is the price of a gallon of crude before shipping, refining, storage, etc...... Out of a barrel of crude you get 23 gallons of gasoline, 13 gallons of Diesel, and the rest is used for other petroleum products. Today, $2.73 out of every gallon of fuel sold was just to pay for the crude. Add 8% profit and that takes you to $2.94 out of each gallon sold. Add about $.42 per gallon for taxes = $ 3.36. Sure comes close when you do the math.

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