Fill up now! Gas will go up another dollar!

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Sonofanump

Dec 1, 2009 8:21 AM
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Dec 1, 2009 8:21am
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 9:22 AM
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Point is moot. It's a fixed cost. Sales tax changes with the price, the gas tax does not.
Dec 1, 2009 9:22am
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Dec 1, 2009 9:45 AM
up refining capacity. supply and demand says that if supply is up (which it's not) demand (and therefore price) will come down.

this is directly a result of the government.

my 2 cents.
Dec 1, 2009 9:45am
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 10:18 AM
j_crazy wrote:

this is directly a result of the government.

No it's not

http://tonto.eia.doe.gov/dnav/pet/pet_pnp_wiup_dcu_nus_w.htm

Anyways, that's just gas prices you are talking about. Plus, gas isn't priced off of consumer supply and demand, it's priced off of retailer supply and demand and distributor supply and demand. In other words, the consumer's demand is 3rd on the list. If a distributor thinks that there is going to be a ton of driving rather than flying over Christmas, his demand will go up, causing the prices to rise, rather than the demand of the consumer actually going up.
Dec 1, 2009 10:18am
F

fan_from_texas

Senior Member

2,693 posts
Dec 1, 2009 10:34 AM
Little Danny wrote:
Mr. 300 wrote: Damn that Obama and his big oil cronies!!!!
Not to provide fodder to move this to the political thread, but everytime the gas prices went up .1 last year everyone was blaming Bush and his ties to the oil industry. What is the excuse now and why aren't dems calling for Barry's head?
Good question, though we all know the answer.

It was stupid to blame Bush for it, and it's stupid to blame Obama for it. But I sure wish it went both ways.
Dec 1, 2009 10:34am
Fab1b's avatar

Fab1b

The Bald A-Hole!!

12,949 posts
Dec 1, 2009 10:41 AM
That's all I want is for balming to go both ways, I know the pres can't control it but their are far too many people that don't understand!
Dec 1, 2009 10:41am
S

Sonofanump

Dec 1, 2009 10:46 AM
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Point is moot. It's a fixed cost. Sales tax changes with the price, the gas tax does not.
I understand the tax is fixed, but it is high (extremely) and a large portion of what we pay per gallon.
Dec 1, 2009 10:46am
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 10:48 AM
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Point is moot. It's a fixed cost. Sales tax changes with the price, the gas tax does not.
I understand the tax is fixed, but it is high (extremely) and a large portion of what we pay per gallon.

How is it extremely high? That is how the roads are payed for and it is a federal and state tax combined which differs in each state. The federal tax is 7% per current gallon.
Dec 1, 2009 10:48am
J

JTizzle

Senior Member

366 posts
Dec 1, 2009 10:58 AM
If they would take Gas and Oil off the commodities market the price would drop drastically! These guys running the price up is crazy when they have no reason to. People not owning a tanker nor a gas station should have no right to buy oil only to hurt the working man. Keep taxing 100% of America to pay for pension funds and other funds also. Only way these idiots got to make money these days.. Short the dollar go long on oil is starting to get a little bit old don't ya think! They ran sugar up and are backing off now and starting to hit chocolate I mean are you kidding me.
Dec 1, 2009 10:58am
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 11:00 AM
JTizzle wrote: If they would take Gas and Oil off the commodities market the price would drop drastically! These guys running the price up is crazy when they have no reason to. People not owning a tanker nor a gas station should have no right to buy oil only to hurt the working man. Keep taxing 100% of America to pay for pension funds and other funds also. Only way these idiots got to make money these days.. Short the dollar go long on oil is starting to get a little bit old don't ya think! They ran sugar up and are backing off now and starting to hit chocolate I mean are you kidding me.
If those are your thoughts, then you need to be advocating the whole commodities market be shut down, as well as the options market.
Dec 1, 2009 11:00am
J

JTizzle

Senior Member

366 posts
Dec 1, 2009 11:14 AM
It would be nice that will probably never happen in my lifetime, people don't care when middle class lose jobs but heaven forbid the rich bankers and some stock brokers lose their jobs. They didn't drop the Modernization act and get rid of Glass Steagall for no reason! I mean what ever happened to buying a stock that you believe in and holding it till it reached your target and sell. Now the shorts just take our money right out of our pockets, that is whole different issue though.
Dec 1, 2009 11:14am
S

Sonofanump

Dec 1, 2009 2:00 PM
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Point is moot. It's a fixed cost. Sales tax changes with the price, the gas tax does not.
I understand the tax is fixed, but it is high (extremely) and a large portion of what we pay per gallon.

How is it extremely high? That is how the roads are payed for and it is a federal and state tax combined which differs in each state. The federal tax is 7% per current gallon.
I do not remember that in macro 361. Some of the tax might go to that purpose, but it is not even close to being a dollar for dollar ratio.
Dec 1, 2009 2:00pm
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 2:04 PM
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Point is moot. It's a fixed cost. Sales tax changes with the price, the gas tax does not.
I understand the tax is fixed, but it is high (extremely) and a large portion of what we pay per gallon.

How is it extremely high? That is how the roads are payed for and it is a federal and state tax combined which differs in each state. The federal tax is 7% per current gallon.
I do not remember that in macro 361. Some of the tax might go to that purpose, but it is not even close to being a dollar for dollar ratio.
It is quite close. The rest is almost always used for a transportation related purpose.

http://www.taxfoundation.org/research/show/2048.html
Dec 1, 2009 2:04pm
S

Sonofanump

Dec 1, 2009 2:14 PM
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
You mean except for the $.46.4 tax on every gallon.
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
20% > .6.75%
Point is moot. It's a fixed cost. Sales tax changes with the price, the gas tax does not.
I understand the tax is fixed, but it is high (extremely) and a large portion of what we pay per gallon.

How is it extremely high? That is how the roads are payed for and it is a federal and state tax combined which differs in each state. The federal tax is 7% per current gallon.
I do not remember that in macro 361. Some of the tax might go to that purpose, but it is not even close to being a dollar for dollar ratio.
It is quite close. The rest is almost always used for a transportation related purpose.

http://www.taxfoundation.org/research/show/2048.html
I could not find in that article the answer to my question. What percentage of the gas tax goes to transportation? I remember (this is my recollection, I would like evidence that I am incorrect or correct) that 50% of the tax goes to transportation, where does the other portion go. I see that 40% of the budget comes from the gas tax. I would feel better if the monies were used 100% (a true consumption tax) for road and used more efficently.
Dec 1, 2009 2:14pm
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 2:16 PM
Sonofanump wrote:
I could not find in that article the answer to my question. What percentage of the gas tax goes to transportation? I remember (this is my recollection, I would like evidence that I am incorrect or correct) that 50% of the tax goes to transportation, where does the other portion go. I see that 40% of the budget comes from the gas tax. I would feel better if the monies were used 100% (a true consumption tax) for road and used more efficently.
It all goes to transportation. You are asking what percentage goes to maintaining the roads and building roads. That I do not have in front of me. But 100% of the gas tax goes to transportation related items.

Edit- Federal that is. I dunno what each state does with theirs.
Dec 1, 2009 2:16pm
S

Sonofanump

Dec 1, 2009 2:30 PM
LJ wrote:
Sonofanump wrote:
I could not find in that article the answer to my question. What percentage of the gas tax goes to transportation? I remember (this is my recollection, I would like evidence that I am incorrect or correct) that 50% of the tax goes to transportation, where does the other portion go. I see that 40% of the budget comes from the gas tax. I would feel better if the monies were used 100% (a true consumption tax) for road and used more efficently.
It all goes to transportation. You are asking what percentage goes to maintaining the roads and building roads. That I do not have in front of me. But 100% of the gas tax goes to transportation related items.

Edit- Federal that is. I dunno what each state does with theirs.
I think that near 20% of the tax is federal and near 80% state. (this is Ohio, now Alaska is low and California is high)
I really wish that I could find a link for where the state tax goes.
Dec 1, 2009 2:30pm
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 1, 2009 2:37 PM
Sonofanump wrote:
LJ wrote:
Sonofanump wrote:
I could not find in that article the answer to my question. What percentage of the gas tax goes to transportation? I remember (this is my recollection, I would like evidence that I am incorrect or correct) that 50% of the tax goes to transportation, where does the other portion go. I see that 40% of the budget comes from the gas tax. I would feel better if the monies were used 100% (a true consumption tax) for road and used more efficently.
It all goes to transportation. You are asking what percentage goes to maintaining the roads and building roads. That I do not have in front of me. But 100% of the gas tax goes to transportation related items.

Edit- Federal that is. I dunno what each state does with theirs.
I think that near 20% of the tax is federal and near 80% state. (this is Ohio, now Alaska is low and California is high)
I really wish that I could find a link for where the state tax goes.
I found 1 that in Texas 72% goes to transportation and the rest to public schools

In ohio 36% of the tax is federal and 44% is state.
Dec 1, 2009 2:37pm
newarkcatholicfan's avatar

newarkcatholicfan

Senior Member

3,199 posts
Dec 1, 2009 5:38 PM
2.44 today.
Dec 1, 2009 5:38pm
ts1227's avatar

ts1227

Senior Member

12,319 posts
Dec 1, 2009 5:42 PM
Dec 1, 2009 5:42pm
believer's avatar

believer

Senior Member

8,153 posts
Dec 4, 2009 5:41 AM
fan_from_texas wrote:Good question, though we all know the answer.

It was stupid to blame Bush for it, and it's stupid to blame Obama for it. But I sure wish it went both ways.
It never will.

Those eeeeeevil Republicans (like W and Cheney) are in bed with Big Oil while those for-the-little-guy Democrats (like BHO and Biden) are powerless and at the mercy of Big Oil.

While the intellectually honest know that POTUS has little if any sway over the oil markets, it's ALWAYS politically correct to blame the Republicans when they are in power and excuse the Democrats when they control the DC scene. It's the way of things.

See the difference?
Dec 4, 2009 5:41am
F

fan_from_texas

Senior Member

2,693 posts
Dec 4, 2009 10:49 AM
Aren't we happy that the price of gas is going up? I mean, isn't the rhetoric that we want to get off foreign oil and encourage domestic energy production? Shouldn't Ds rejoice that we're going green, and Rs rejoice that the market is sending appropriate signals to encourage alternatives?
Dec 4, 2009 10:49am
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 4, 2009 11:00 AM
newarkcatholicfan wrote:
That was the most current news updatew on yahoo when I posted it.
Yahoo is at least 15 minutes behind on prices. Because of their contracts with people who pay for real time quotes, they have to be. If you are reading stories they are at least 30 minutes behind the market.

Like I said, there is a link so you can at least be current. 30 minutes ago is not current.
Dec 4, 2009 11:00am