McCain calls for a summer 'gas-tax holiday'

Discussion in 'Politics' started by Ps104_33, Apr 15, 2008.

  1. Ps104_33

    Ps104_33
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    PITTSBURGH - John McCain called Tuesday for the federal government to free people from paying gasoline taxes this summer and ensure that college students can secure loans this fall, proposals aimed at stemming the public's pain now from the troubled economy.

    Political posturing? Perhaps. But a very good idea. After all taxes comprise about 13% of the price of a gallon of gas.

    http://www.msnbc.msn.com/id/24120727/
     
  2. Bro. Curtis

    Bro. Curtis
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    It is a very good idea, that's why it won't happen. People have to keep thinking it's the oil companies gouging them, can't bring attention to the fact that the government is the biggest recipient of oil revenues in the U.S..
     
  3. chuck2336

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    I am all for less $$$ at the pump!

    Will it happen, nope!
     
  4. Revmitchell

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    That used to be true. But so many of the other factors that go into the price at the pumps have changed and gone up it is no longer the case. While taxes make up approx. 17% profits have increased to approx. 29%.
     
  5. Bro. Curtis

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    You forgot to consider who puts up the initial investment. Big Oil's 29% profit I believe is figured after, while Uncle Sam puts up nothing, so it's 17% is pure profit.
     
  6. Revmitchell

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    I understand. What I intended to articulate was that government taxes at both state and federal have remained largely the same while manufacturers have enjoyed quite an increase. They are reporting the highest profits ever. But lets not forget that the "manufacturer includes stockholders. So the spread between the two has narrowed considerably (mostly on the corporation side) while we are eating these excessive prices.
     
  7. Bro. Curtis

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    I've read credible reports that say these record profits equal about 9.5 cents returned on every dollar invested.

    I'd like to see Hollywood, the Teamsters Union, & the Screen Actors Guild put under the same scrutiny Big Oil is.
     
  8. Revmitchell

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    Ha! The Unions especially.
     
  9. targus

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    Wait a minute...

    Isn't McCain on board with the Democrats concerning global warming?

    Shouldn't he be calling for an increase in taxes to bring gasoline use down?

    And wouldn't that give the government more money for combating global warming with things like refrigerating the glaciers?
     
    #9 targus, Apr 16, 2008
    Last edited by a moderator: Apr 16, 2008
  10. Crabtownboy

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    It is purely a politically charged idea. But it is a terrible practical idea. We need to start to learn to live with less consumption, more efficient cars, and not continue to believe it is a God given right to have cheap fuel which we waste in a terrible manner.
     
  11. billwald

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    >I am all for less $$$ at the pump!

    Who will pay the Chinese for the extra loans? Your kids or your grandkids?
     

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