John McCain for President

[monsoon]

Maybe Obama can come out with a $1.00 per gallon increase in the gas tax. Then he could explain the merits of increased "government income" and a forced reduction in gas consumption. We could force independent truck drivers out of work; this would not only save on gas consumption, but would increase retail prices (taxes).

[Justadude]

Maybe Obama can come out with a $1.00 per gallon increase in the gas tax. Then he could explain the merits of increased "government income" and a forced reduction in gas consumption. We could force independent truck drivers out of work; this would not only save on gas consumption, but would increase retail prices (taxes).

[Gusterfell]

There is no doubt that high energy prices are stifling the US economy. If McCain's proposal is successful in stimulating economic growth, the cost to the federal budget could well be offset by increased tax revenue in other areas. You're going to spend a lot of money on that trip to Disney World, and you'll be taxed on that spending.

This proposal certainly won't help wean America off its oil addiction. However, high gas prices won't do so either, as they benefit the energy companies which would have to invest in such a change. As long as these companies are making record profits, they'll have no problem squeezing the working class even harder.

Let McCain suspend the gas tax. The hard-working American people could use the money, and the economy could use the boost. However, pay for it by passing legislation that requires energy companies to pay a fair income tax on their obscene profits.

[monsoon]

I think it is being completely missed there that the federal tax on gasoline is used to pay for highway and other transit projects. If the American people want to drive on more congested falling apart roads and have more cutbacks in train alternatives, then cutting the gas tax is the way to do it.

It amazes me at how quick Americans are willing to support something without first knowing all the facts.

[erdogs]

Do you think having access to unlimited amounts of cheap gasoline is good for the United States?

[Gusterfell]

I think it is being completely missed there that the federal tax on gasoline is used to pay for highway and other transit projects. If the American people want to drive on more congested falling apart roads and have more cutbacks in train alternatives, then cutting the gas tax is the way to do it.

It amazes me at how quick Americans are willing to support something without first knowing all the facts.

[erdogs]

I think it is being completely missed there that the federal tax on gasoline is used to pay for highway and other transit projects. If the American people want to drive on more congested falling apart roads and have more cutbacks in train alternatives, then cutting the gas tax is the way to do it.

It amazes me at how quick Americans are willing to support something without first knowing all the facts.

[JDC]

Doesn't the gas tax help pay for transportation infrastructure? And how many bridges in this country are structurally insufficient?

The only winners here are the oil companies and those who drive the most. That doesn't sit well with this voter.

[erdogs]

Doesn't the gas tax help pay for transportation infrastructure? And how many bridges in this country are structurally insufficient?

The only winners here are the oil companies and those who drive the most. That doesn't sit well with this voter.

[monsoon]

These funds get diverted to other projects and programs all the time. ......

[monsoon]

So you would support an extra $1 per gallon tax increase?

[Gard]

I prefer to leave the gas tax where it is, no increase and no decrease. Instead, we should be foucusing on decreasing dependency on oil, not putting a band-aid on gasoline. As far as oil companies and their sales go, I can tell you as an Accounting major that the numbers you are seeing are BEFORE TAX and EXPENSES. Once you subtract, payments for the oil to the countries of origination, equipment replacement from depreciation, maintenance, labor, taxes among other things, much of that is eaten up, leaving them no better off than they were before the oil prices went up. The whole hearing thing in congress is more or less a side show to appease the public.

[erdogs]

So if all the gas tax isn't paying for transportation now, then why does it make sense to cut it even more? You are not making any sense at all. Also we are not talking about state lotteries and SS. Please provide some factual data about the gasoline tax not being used to fund highway and transit projects. I would like to seem some of your numbers that back up your claims.

[monsoon]

Taxes go to the general fund. Its not like the taxes from gasoline go straight to the U.S. DOT.

[Gusterfell]

I prefer to leave the gas tax where it is, no increase and no decrease. Instead, we should be foucusing on decreasing dependency on oil, not putting a band-aid on gasoline. As far as oil companies and their sales go, I can tell you as an Accounting major that the numbers you are seeing are BEFORE TAX and EXPENSES. Once you subtract, payments for the oil to the countries of origination, equipment replacement from depreciation, maintenance, labor, taxes among other things, much of that is eaten up, leaving them no better off than they were before the oil prices went up. The whole hearing thing in congress is more or less a side show to appease the public.

[erdogs]

From the primer on the Federal Highway Trust Fund.

In order to ensure the soundness of Federal trust funds, they are accounted for separately from the

U.S. General Fund. HTF income is composed of both tax revenues and, until October 1, 1998,

interest earnings. Revenues from motor fuel taxes and other taxes on highway users are collected

by the Internal Revenue Service and deposited in the General Fund of the Treasury. Each month

the Treasury Department estimates the amount of highway-user taxes that will be collected.

Based on those estimates, an accounting transaction is made which credits the HTF for the

estimated amount of revenue.

You may read the entire thing here. Cut off the gas taxes and there will be less money for transit projects. It's pretty clear cut and I don't know where Peter and Paul come into this. Now maybe you can provide some numbers that you used to come up with your claims.

Beyond this, economists are saying that McCain's plans will favor the wealthy, swell the deficit, and his math doesn't work. Different person, same story.

[Gard]

The numbers that prompted the hearings are oil companies' all-time record PROFITS, not record income. I'm not an accounting major, and even I know that profit is what is left over after expenses are paid for.

As for taxes, all major corporations, including oil companies, employ a number of loopholes to avoid paying the tax they legally owe. What income tax these companies are obligated to pay is a minimal percentage of their income. On top of that, oil companies are given billions of dollars in tax breaks and subsidies. Until this changes, there is little incentive for these companies to promote decreasing dependency on oil.

If the energy companies were struggling to make ends meet, as you seem to imply, they would be scrambling to find a solution to the energy crisis, rather than fighting to maintain the status quo.

[monsoon]

Nice try. The key word is "estimated", an estimation can be anything you want it to be. ....

[erdogs]

I never said that Obama was going to raise the gas tax by any amount, don't put words in my mouth! The information you gave says how the money is supposed to get to the Transportaion Administration, it says nothing of where that money is allocated through that department. I gave you an example of how that money is diverted in any given fiscal year and you refuse to acknowlege that. So you're right, what's the point?

We now pay over 18 cents per gallon, how much of an increase is enough and who gets to decide this? What if you paid 18 cents per a gallon of milk to the Federal government, what would your response be to that? It's OK because it will go to biofuel research? There are more ways to increase the governments pockets that don't come at the expense of those who can least afford it.

[monsoon]

....The information you gave says how the money is supposed to get to the Transportaion Administration, .....

[Justadude]

There is no doubt that high energy prices are stifling the US economy.

[Gusterfell]

^I largely agree with you, which is why I would only support a reduction in the gas tax if it were coupled with legislative pressure on the oil companies to change. Yes, our energy policy over the last several decades has been foolish and unsustainable. However, why should we demand that the American working class pay the price for this policy while those responsible for it are allowed to continue enriching themselves?

[Charlotte_native]

^I largely agree with you, which is why I would only support a reduction in the gas tax if it were coupled with legislative pressure on the oil companies to change. Yes, our energy policy over the last several decades has been foolish and unsustainable. However, why should we demand that the American working class pay the price for this policy while those responsible for it are allowed to continue enriching themselves?

[Justadude]

However, why should we demand that the American working class pay the price for this policy while those responsible for it are allowed to continue enriching themselves?

[Gusterfell]

Legislative pressure to oil companies? Come on...that has not and will not ever happen. The oil companies, and Americans, won't change until they have to. Lower gas prices to what they were 2 years ago and all Americans will do is go buy SUV's and all the oil companies will do is put off looking at alternatives.