handyman2
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Joined: Dec 29, 2010 23:56:33 GMT -5
Posts: 3,087
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Post by handyman2 on Sept 11, 2011 23:20:58 GMT -5
RTD: I sure hope it was trashed. Can you imagine what would happen to the US budget if the federal Fuels tax was eliminated just for 6 months?
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Post by reformeddaytrader on Sept 11, 2011 23:27:24 GMT -5
RTD: I sure hope it was trashed. Can you imagine what would happen to the US budget if the federal Fuels tax was eliminated just for 6 months? Yea but it was only for 90 days and not six months. But there were several economic studies but probably didn't give Obama any confidence to go along with it.. Obama should call his Jobs Bill.."Save My Job"...because all he is doing is talking about Jobs to everyone who will listen to him for the past three days without a clue how he will pay for it. But he did say he would share that with us soon so keep on keeping on..
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henryclay
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Post by henryclay on Sept 11, 2011 23:54:41 GMT -5
I think it probably went the way of the recommendation someone made to Lincoln about the south withdrawing from the union.. . . . "What the devil are you talking about? How would we operate the government without the taxes they send us?" And since Fort Sumter only had one function, which was to collect tariffs on shipping, the rest is history.
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billisonboard
Community Leader
Joined: Dec 20, 2010 22:45:44 GMT -5
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Post by billisonboard on Sept 12, 2011 0:04:35 GMT -5
I think it probably went the way of the recommendation someone made to Lincoln about the south withdrawing from the union.. . . . "What the devil are you talking about? How would we operate the government without the taxes they send us?" And since Fort Sumter only had one function, which was to collect tariffs on shipping, the rest is history. " "
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Post by reformeddaytrader on Sept 12, 2011 0:05:58 GMT -5
I think it probably went the way of the recommendation someone made to Lincoln about the south withdrawing from the union.. . . . "What the devil are you talking about? How would we operate the government without the taxes they send us?" And since Fort Sumter only had one function, which was to collect tariffs on shipping, the rest is history. I think the problem was if the Federal Government suspended the Federal Taxes on the price of gasoline the risk/ reward would not be worth it...they would lose too much in tax revenues and the economy would not see much of a reward for a few months later if consumers paid @$2.00 per gallon instead of @$4.00 per gallon.. And would consumers spend the saving from this decrease in the price of gas at the pump or pay off their debts, and if I remember correctly most said they would pay off their debts and not increase their spending. But with Obama's "Save My Job" Bill you may not see many jobs crreated until 2012 and will be mainly in construction and then small businesses will have to wait until these new construction workers begin to spend before they can begin to rehire or create more jobs in other sectors
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billisonboard
Community Leader
Joined: Dec 20, 2010 22:45:44 GMT -5
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Post by billisonboard on Sept 12, 2011 0:13:06 GMT -5
I think it probably went the way of the recommendation someone made to Lincoln about the south withdrawing from the union.. . . . "What the devil are you talking about? How would we operate the government without the taxes they send us?" And since Fort Sumter only had one function, which was to collect tariffs on shipping, the rest is history. ... if consumers paid @$2.00 per gallon instead of @$4.00 per gallon.. . Note: The Federal Gas Tax is 18.4 cpg www.gaspricewatch.com/usgastaxes.asp
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Post by reformeddaytrader on Sept 12, 2011 0:18:38 GMT -5
Today, U.S. consumers pay, on average, $3.68 for a gallon of regular-grade gas. About $2.87 of that is the cost of the gas itself, $0.18 is the federal tax, and the rest is other taxes plus distribution and marketing expenses
Ok then use @$2.87 instead of $2.00.. or just the cost of gas itself and why this idea got nowhere...but if we did pay @ $1.00 less for gas at the pump it would help our economy
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billisonboard
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Joined: Dec 20, 2010 22:45:44 GMT -5
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Post by billisonboard on Sept 12, 2011 0:27:41 GMT -5
Today, U.S. consumers pay, on average, $3.68 for a gallon of regular-grade gas. About $2.87 of that is the cost of the gas itself, $0.18 is the federal tax, and the rest is other taxes plus distribution and marketing expenses Ok then use @$2.87 instead of $2.00.. or just the cost of gas itself and why this idea got nowhere...but if we did pay @ $1.00 less for gas at the pump it would help our economy So suspending the federal tax would make it $3.50 instead of $3.68.
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Post by reformeddaytrader on Sept 12, 2011 0:33:18 GMT -5
Today, U.S. consumers pay, on average, $3.68 for a gallon of regular-grade gas. About $2.87 of that is the cost of the gas itself, $0.18 is the federal tax, and the rest is other taxes plus distribution and marketing expenses Ok then use @$2.87 instead of $2.00.. or just the cost of gas itself and why this idea got nowhere...but if we did pay @ $1.00 less for gas at the pump it would help our economy So suspending the federal tax would make it $3.50 instead of $3.68. You would have have to suspend the rest of the taxes and other expenses which gets to just the cost of gas itself..And the states were very reluctant to give up their tax revenue especially out here in CA.. And even if they did and Oil Companies agreed to lower their costs it just was not worth the risk ..
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billisonboard
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Post by billisonboard on Sept 12, 2011 0:35:21 GMT -5
So suspending the federal tax would make it $3.50 instead of $3.68. You would have have to suspend the rest of the taxes and other expenses which get to just the cost of gas itself.. None of which is under the control of the federal government.
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Post by reformeddaytrader on Sept 12, 2011 0:38:39 GMT -5
You would have have to suspend the rest of the taxes and other expenses which get to just the cost of gas itself.. None of which is under the control of the federal government. If was something that was just a proposal and was considered by Obama or mentioned as the price of gasoline became an issue when the price at the pump was almost $5.00 per gallon in some states... Schwarzenegger was asked to look into suspending the state and local taxes on gasoline and he said NO Way NO HOW Mr President. I would like to see gasoline at the pump priced at @$2.00 per gallon but we would need to increase domestic oil production and have more electric vehicles to drive down demand for oil and gasoline. That is also under consideration but who knows when or where. 2014 or 2015?? But more important now are these ads by the DNC to sell Obama's "Save My Job" Proposal: DNC ad campaign to promote Obama jobs plan xfinity.comcast.net/articles/news-politics/20110912/US.Obama.Jobs.Ads/
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