Sahurao cactus at 4500 feet elevation on the south side approach to Mount Lemmon. The city of Tucson is in the background. Now if I could only figure out how to get an antnena and feedline up here!!!
Who is screwing whom at the pumps?|
By Jeff K. SteinkampDemocrats and liberals in this country pride themselves on painting these gloom and doom pictures of our economy and society based on skewed facts then use these skewed facts to bolster their position to tax their way into prosperity. If it moves or breaths – tax it into oblivion. If it doesn’t move – blow hot air up its ass until it moves, then tax it!!!
A perfect example is the evil and rich oil companies. Listening to these gas bags of hot air, such as Michael Moore, Nancy Pelosi, and Harry Reid, you’d think these evil and rich oil companies are sitting on billions and billions in cash from the sale of gasoline in this country. Fact is, these idiots wouldn’t know a fact if it slapped them across the face.Here are the facts, supported by the United State Department of Transportation (USDOT) and the Federal Highway Administration (FHWA). According to
in 2010, their profit on a gallon of gas was slightly less than $0.08 per gallon. Yes, 8 cents for a gallon of gas! Federal and state taxes on a gallon of gas average $0.478 with the federal government colleting $0.184 and the rest going to the states. For those of you well versed in using a calculator or slide-rule, that is a 230% difference between the oil company profit and what the federal government collects in taxes, and 357%, on average for the state taxes.Lets’ break this puppy down into simpler terms. According to the FHWA, in 2009, there were approximately 194 million passenger vehicles on the road with an average gas consumption of 31.525 miles-per-gallon. This same entity shows that we drove an average of 13,476 miles in 2011.So the consumer spent, on average, $427.47 on gas. Out of that, the oil companies collected $34.198 in profit, the federal government collects $78.76 and the individual states share a whopping $125.68!! With almost 194 million passenger vehicles on the road in 2012, here is where the money went.Profit $34.198 x 193,979,654 $6,633,638,616.00 ($6.6 Billion)
- Taxes $204.33 x 193,979,654 $39,636,056,680.00 ($39.6 Billion)
- Federal Share $15,277,837,550.00 ($15.3 Billion)
- State Shares $24,379,362,910.00 ($24.4 Billion)Because of the taxes the federal government levies on the sale of gas at the pumps, the government supplies some tax subsidies on oil company profits, thereby lowering their cooperate tax from the usual 35% down to about 18%, which in-turn the companies use for research and development and exploration advancements. So, on top of the $15.3 Billion the federal government is collecting at the pump, they also collect an additional $1.188 Billion.So Obama and the Democrats are calling to end all tax subsidies on oil companies, thereby taxing their profits at 35%. The oil companies don’t care; they’ll just pass it on to the consumer. So who is screwing who?