Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Let's not be an anti-science Hillary and talk total dollars, these are some of the largest companies in the world because during the low prices in the 1990's etc. triggered a wave of bankruptcies and mergers.
CA state gas tax = 50.5cents
CA sales tax (approx) = 10.5cents
Fed gas tax = 18.4 cents
Total (approx) 80 cents
Assuming $5 gallon, net amount is 4.10 x 10% profit margin = 41 cents to the oil company of which about 8 cents goes to federal tax. (supported in earlier post)
I don't know all the property taxes, excise taxes, payroll taxes and so forth are also paid or the amount of CA state income tax.
But basically if the oil company is getting 33 cents of net profit the state and feds are getting >88 cents in obvious taxes mentioned above.
I say this so that an honest conversation can be had and to shoo away those that don't want an honest conversation due to their politics.
In just a little over a year gas prices are almost double under Biden. That alone gives the Government a windfall of Tax money to waste as they normally do.
At the very least, the Government should cap the tax based on gas prices when Biden took office. That would at least ease a small amount of pain at the pump.
Hey Democraps, if you actually want to do something to help Americans, give us a "tax holiday" from federal highway fuel taxes. And take it further, put a moratorium on state taxes on fuel as well. DO SOMETHING FOR WORKING AMERICANS! Just once!
All road maintenance would come to a grinding halt. Fuel taxes are what pay for transportation projects.
"Commit intentional harm to some number of Americans, keep all the money seized from that harm in the personal bank accounts and campaign funds of the House and Senate members, have the Fed print some money to mail out in the form of "rebate" checks to America, call it noble."
There you go. Now you understand with the headline how the game works.
In just a little over a year gas prices are almost double under Biden. That alone gives the Government a windfall of Tax money to waste as they normally do.
At the very least, the Government should cap the tax based on gas prices when Biden took office. That would at least ease a small amount of pain at the pump.
If we're being fair, the low $2 gas was due to Covid and it's normally a fair bit more than that.
So picking the lowest point to then measure up from is called cherry picking.
It's definitely increasing but presenting the bottom number as if it were some sort of long term normal is disingenuous.
Someone has to stop the insanity! It’s not their fault it’s yours for Christ's sake.. the market is reacting to your policies. That what free markets do. This is going nowhere.
I do believe that each Americans should be entitled to profit sharing with corporations that profit from our natural resources. However, oil companies are not the problem here. The Biden Administration wants to reduce future American Oil Production and it's policies are reflected in the market.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
