I wonder how much extra tax money came in

mr-pirk · 04-14-2005, 07:19 PM

I have been wondering just what it means to our federal defict if fuel prices drop and the tax in the lower priced fuel brings in less money.
Would that be enough to cause a faster slide of the dollar?

I wonder if that has any bearing on the goverments actions or lack there of to bring down fuel prices?

I wonder if threatening to break up the merged oil companies would do any good?
Maybe require fuel mileage requirements to be met by a different formula, from what I understand the formulas are set up to favor SUV's by the way the lower fuel mileage vehicles are allowed to be figured in to the over all ratio.

I wonder if slowing the filling of the stratigic oil reserves would make a difference.

The biggest thing I would like to see is a rebuilding of our railway system, maybe even some nation wide high speed trains.

I may be all wet in my thinking , but to me when I see so many cross-country trucks on the inter-states it tells me something else has to be better.

Thanks
Mr-Pirk

North Texan · 04-14-2005, 07:53 PM

The oil reserves are of little consequence. I think they have about enough oil to last a day and a half at current rates.

A lot of areas use to have railroads that don't anymore. I wouldn't mind seeing them come back.

As far as the tax, I am not sure how it is figured. If it is fixed, a drop in gas prices should raise revenues. If not, then it depends on the price elasticity of gasoline.

As for the SUV issue, that is a major reason gas prices are so high. Everyone likes to drive SUV's and pickups. And most of them do poorly on gas mileage. It just takes 2 to 3 SUV's to use the same amount of petrolium as a truck. Think about how many of those vehicles you see on the road, and you'll quickly realize that trucks are just a drop in the bucket to what personal vehicles use.

Tazman · 04-15-2005, 10:37 AM

Well I am not sure about other states but the state taxes and all other local taxes along with the Federal taxes are included in the price of gasoline, in Virginia there is no additional sales tax put on fuel.