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Posted on May 6, 2008 by Gerald Prante and Joseph Henchman
"Even if the federal gas tax holiday was implemented, it would not apply (fully) to gasoline sold in four states. That's because California, Nevada, Oklahoma, and Tennessee each has a provision in the state's tax law which states that if the federal gas tax is lowered, that state's own gas tax will increase by some amount. This is theoretically designed to maintain transportation spending in the state."
Four States have provisions in their statutes that will increase the state motor fuel tax rate when the Federal tax rate is decreased. Link to Changes here
Posted on May 6, 2008 by Gerald Prante and Joseph Henchman
"Even if the federal gas tax holiday was implemented, it would not apply (fully) to gasoline sold in four states. That's because California, Nevada, Oklahoma, and Tennessee each has a provision in the state's tax law which states that if the federal gas tax is lowered, that state's own gas tax will increase by some amount. This is theoretically designed to maintain transportation spending in the state."
Four States have provisions in their statutes that will increase the state motor fuel tax rate when the Federal tax rate is decreased. Link to Changes here
Overindebted "Keeping up with the Joneses" car owners just want to redistribute the cost of car ownership to those who are prudent enough to walk, bike, or use mass transit to get where they're going vis-a-vis state income taxes (for the other 40+ states with a state income tax not on that short list).
Gas prices will find a new, higher equilibrium if these taxes are lifted. As a shareholder in several oil explorers, I stand to benefit handsomely, but most consumers won't. Gas prices will stabilize when and only when demand comes to grips with limited supply.
Overindebted "Keeping up with the Joneses" car owners just want to redistribute the cost of car ownership to those who are prudent enough to walk, bike, or use mass transit to get where they're going vis-a-vis state income taxes (for the other 40+ states with a state income tax not on that short list).
Gas prices will find a new, higher equilibrium if these taxes are lifted. As a shareholder in several oil explorers, I stand to benefit handsomely, but most consumers won't. Gas prices will stabilize when and only when demand comes to grips with limited supply.
It's amazing, but if you told many of these folks where their 401K's where putting their money they'd quiet considerably. Having lived in the Midwest, the gas tax suspension is sure to be catastrophic...if it goes through I'm buying Caterpillar and hot dog stands. The lines on the Highway will be literal Gold-mines.
we still need to keep up the roads for those who are biking, and riding buses. We can't just ignore them. there are other ways to get money for roads that would be tied to license fees. the more vehicles you have, or the heavier their weight(because the heavier weights damage the roads) the more the license plate fees.
Why not have the gas tax and cut spending in some other place. Ron Paul while he has some out their ideas came on Fox today and thinks it is a good idea but cutting funding to go with it. No windfall profit tax.
Btw while Obama does not want to have this happen he also has not came up with any other idea. The empty suit rhetoric is starting to become more and more evident.
Btw while Obama does not want to have this happen he also has not came up with any other idea. The empty suit rhetoric is starting to become more and more evident.
You did look at the the Tax proposals he has submitted in his plan, correct?
There shouldn't be a federal gas tax, it should all be taxed by the states. It doesn't make sense for people in my state to give the federal government money and wait for the federal government to give it back to our state DOT.
There shouldn't be a federal gas tax, it should all be taxed by the states. It doesn't make sense for people in my state to give the federal government money and wait for the federal government to give it back to our state DOT.
because they need more money to waste. they will say that it is for building roads. then they will tell you that personal property tax is what pays for roads. if it is used to pay for roads, wouldn't it be the same in every state. it's way too high in NC.
Quote:
Originally Posted by walidm
Interesting point.
Why is there a Federal Gas Tax?
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