Oil exec's say soaring costs hurt them too... - Page 4 - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #31 of 35 (permalink) Old 05-22-2008, 03:10 PM
BenzWorld Elite
 
FeelTheLove's Avatar
 
Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Posts: 28,829
Mentioned: 0 Post(s)
Quoted: 8 Post(s)
Fo shizzle.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
FeelTheLove is offline  
Sponsored Links
Advertisement
 
post #32 of 35 (permalink) Old 05-22-2008, 08:48 PM
BenzWorld Elite
 
Date registered: Jul 2007
Vehicle: 1973 450 SL
Location: Castle Rock, CO
Posts: 5,453
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mcbear View Post
One of the quieter 600 pound gorilla's in the room is the amount of extra taxes that are being raised by the increases in prices for gasoline and diesel. The Federal Government, States and Local governments are getting a nice bump in revenue as they pull their 15% or 3% or whatever rate they have applied to the pump price.

Now the conundrum is that much of this largess is not going back into infrastructure where it was intended but to try and balance bloated budgets. While a "tax holiday" is a dumb idea in that it reduces funds needed for infrastructure, a tax cap might not be such a bad idea and a required channeling of those tax funds to the appropriate projects, not the general funds.

Looks like Chicago is one of the worst.

Truth In Politics: Illinois Gas Prices And Taxes

CHICAGO (CBS) ― Tired of seeing the price at the pump jump every time you need to buy gasoline? Well, the record-high price of gasoline in the Chicago area is linked to a record-high rate of taxation: nearly 20 percent of the Chicago price.

As CBS 2 Political Editor Mike Flannery reports, tax refugees wait in long lines on Indianapolis Boulevard in Northwest Indiana. They jockey for position at a pump, lured by prices that are 20 cents a gallon or more cheaper than just a few blocks away back in Illinois.

"It was $4.20. I can come over here and get it for $3.93," said Tikvah Wadley, one of the many fleeing Illinois taxes.

Illinois Sen. Dick Durbin complained to oil company bosses at a hearing on Capitol Hill about Chicago having the highest gasoline prices in the United States. Largely ignored was the role taxes are playing -- an astounding 10 levels of taxation.

"Does it trouble any of you when you see what you're doing to us?" Durbin asked..

In the city, Motor Fuel Taxes originally for building roads currently go to the Feds, Illinois, Cook County and Chicago. The 9.25 percent sales tax is split among Illinois, Chicago and Cook County's share of the state sales tax; a county home rule tax; RTA transit tax and a Chicago home rule levy.

The watchdog Civic Federation says that on a $4 gallon of gas, the total tax is 79.2 cents. That compares to 77 cents in Los Angeles and 65 cents in New York City.

"Every time the price of gas goes up, the tax goes up with it," said one motorist.

And that, of course, is exactly the point for the politicians. Gov. Blagojevich, for example, is counting on the high price of gasoline to bring at least an extra $220 million in the State Treasury in the fiscal year that begins this July. Most of that will be used to balance the way-out-of-balance budget.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

cbs2chicago.com - Truth In Politics: Illinois Gas Prices And Taxes
McBare, give us a break! You should be ashamed to post this idiot article. Taxes on gasoline at the pump are not percentage-based sales taxes. They are a flat charge per gallon. For example, the federal tax is 18.4 cents for each gallon, which doesn't change whether the fill-up is $50 or $100 or whether the overall city consumption goes up or down. Same for State/local taxes. The price of the gallon has no bearing on the tax collected.

Sure, the more gas used, the higher the tax collection. But with prices so high, does the Illinois governor really expect to see more consumption? Another public school graduate, I think.

Charter member of the Vast Rightwing Conspiracy and proud of it.

God Bless the America we're trying to create.
--Hillary Rodham Clinton
bottomline1 is offline  
post #33 of 35 (permalink) Old 05-23-2008, 02:54 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by FeelTheLove View Post
I am correct.

Fuel taxes in the United States - Wikipedia, the free encyclopedia

Looks like California is the one raking it in on the percentage angle.
There are several fed taxes on fuel from what I could confirm but the main one is fixed. It is the state and locals that are using the bump in prices to pad their budgets. At least that was the crux of the article.

Now if I read one of the PDF's correctly there are three Fed taxes on gasoline and diesel that are percentage based and the main one that is fixed. The percentage based taxes are on supply stream from what I gleaned, while the end use excise tax was fixed at the pump.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #34 of 35 (permalink) Old 05-23-2008, 04:26 PM
BenzWorld Elite
 
Date registered: Jul 2007
Vehicle: 1973 450 SL
Location: Castle Rock, CO
Posts: 5,453
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mcbear View Post
There are several fed taxes on fuel from what I could confirm but the main one is fixed. It is the state and locals that are using the bump in prices to pad their budgets. At least that was the crux of the article.

Now if I read one of the PDF's correctly there are three Fed taxes on gasoline and diesel that are percentage based and the main one that is fixed. The percentage based taxes are on supply stream from what I gleaned, while the end use excise tax was fixed at the pump.
You're getting closer to reality. Let's define these taxes as "use" taxes, which for my purposes means they are based on the gallon purchased and passed on to the end-user at the retail level. Regardless of whether they are conceived by the legislature as flat charges per gallon or as a percentage, they all get converted to a cents per gallon at the pump. I've never purchased gasoline where I had to take my "ticket" inside to have the clerk add 7.25% to my total.

California has always had high fuel taxes because on top of the federal tax they add a state fuel tax and a sales tax that is assessed annually at some rate which is converted currently to about 18 cents per gallon and then localities can add their tax, also converted to cents per gallon. But it's all cents per gallon, but as you can see it's not based on the price per gallon, like your restaurant meal.

So my point is that the journalist (and you)seemed to imply that the higher the price at the pump, the more tax was being collected. That wouldn't appear to be true. And, as a matter of principle, most all business taxes get passed on to those little numbers on the pump so the costs can be recovered.

And, skippy, "padding the budget" means to project too high revenue or too-low expenses or vice versa, depending on what you are trying to cover. I don't see how that applies in this discussion.

Charter member of the Vast Rightwing Conspiracy and proud of it.

God Bless the America we're trying to create.
--Hillary Rodham Clinton

Last edited by bottomline1; 05-23-2008 at 04:28 PM.
bottomline1 is offline  
post #35 of 35 (permalink) Old 05-23-2008, 04:30 PM
BenzWorld Elite
 
Date registered: Jan 2008
Location: USA
Posts: 11,847
Mentioned: 0 Post(s)
Quoted: 758 Post(s)
Quote:
Originally Posted by AndreiRN View Post
I would not dear that.
The Government represents my interest. Isn't it?
I think you are allowed xx number of gallons, but one should pay the % of tax on it.

© All photographs and likenesses of Multipurpose are protected under copyright
law. Any use of photographs in whole or in part is strictly prohibited
unless authorization is granted in writing by copyright holder. All rights
reserved.
Multipurpose is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    I hurt my back DP Off-Topic 58 11-19-2007 09:47 PM
    Repair Costs for very slight oil leak at phenolic (sic) oil filler cap, 2001, 320 noelchambers R170 SLK-Class 2 11-05-2005 08:53 AM
    Soaring Gas prices - Gas type to use raki W201 190-Class 6 07-02-2005 03:14 PM
    This is going to hurt, but .......... Birger W163 M-Class 18 01-14-2005 10:52 AM
    This is going to hurt, but..... Birger W164 M-Class 7 01-12-2005 10:19 PM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome