YOUR Opinion On This ?

[Apple Roof Cleaning 202]

What is YOUR opinion on this Republicans block extra taxes on oil companies - Yahoo! News

In case anyone hasn't heard, Oil Companies are ripping us off !

[Mike Williamson 198]

Mike, Thanx for them links... I don't see these conversations limited to fed tax or sales tax. Your links aren't helping a case for goobermint entities not capitalizing off the huge money of the gas/oil industry in my opinion especially when I live in Ca where we are paying $4.45+ per gal of gas at the pump. Where you think the price difference between what oil per gal used to be on world market and the current $3.20 goes? It just lines the oil baron/sheiks pocket or do those they beholding to are profiting as well?. We are to think whatever goobermint entities they workin under are gonna let them slide without getting their share?. Or you by chance gonna elude the money is not profit at all but now suddenly goes into R&D or something?. That would be magical. Is all a big game of hide the money, now ya see it now ya don't.. like first it was in our pocket and now it not in anyones pocket.

Well, you said the government (assuming the feds, but maybe you meant state and local too) made more money with higher gas price. Other than the 7 states listed who charge a percentage based tax on gas, the state and federal governments do NOT make more if gas prices go up. As I stated earlier, if anything, they make LESS because the higher gas prices go, the less gas people are going to be buying. They're going to cut down their usage, which in turn means the feds (and 43 states) receive LESS tax revenue on gas. So where is the motivation for the government to encourage, support, promote, etc, higher gas prices?

Where do the state and local governments capitalize off "huge money of the oil/gas industry", other than collecting the same, or less, tax revenut from gas sales that they always have?

Yes, you live in California, which is one of the states that does charge a percentage based gas tax. So if gas goes up, they make more. Some, and possibly all that increase will be offset by decreased gas sales.

If gas consumption stays the same, the federal government collects the exact same gas tax revenue when gas is $4.00/gallon as it would if gas were $40.00/gallon.

[MMI Enterprises 289]

Well, you said the government (assuming the feds, but maybe you meant state and local too) made more money with higher gas price. I mean the whole shootin shabang..and not just consumer sales based/pay at the pump revenue that you seem to be focusing on. Other than the 7 states listed who charge a percentage based tax on gas, the state and federal governments do NOT make more if gas prices go up. Adds up to 47 cent US avg by a sublink of your link: http://api.org/statistics/fueltaxes/upload/Jan08MFTNotes.pdf Old figures mind you.. As I stated earlier, if anything, they make LESS because the higher gas prices go, the less gas people are going to be buying. Who are these people?...People playing or people workin to keep the country workin? If usage has curbed or will be curbed when do we see lower prices? They're going to cut down their usage, which in turn means the feds (and 43 states) receive LESS tax revenue on gas. That only considers the consumer tax and I don't see anything to make me believe the useage is curbed enough to where the 18.4 cent excise loss would outweigh the income tax that is generated.So where is the motivation for the government to encourage, support, promote, etc, higher gas prices? Well I mainly meant that they would not be inclined to act against.

Where do the state and local governments capitalize off "huge money of the oil/gas industry", other than collecting the same, or less, tax revenut from gas sales that they always have? Consumer/pay at pump is not only tax. You don't seem to want to recognize that the more they make the more they pay on their end which by nature came from us.

Yes, you live in California, which is one of the states that does charge a percentage based gas tax. So if gas goes up, they make more. Some, and possibly all that increase will be offset by decreased gas sales. No way..sorry to have to disagree.

If gas consumption stays the same, the federal government collects the exact same gas tax revenue when gas is $4.00/gallon as it would if gas were $40.00/gallon.

Here is sublink on Earnings from your link:

EXXON MOBIL CORP - XOM Annual Report (10-K) INCOME STATEMENT

Again these are old figures before this huge increase..

If we are to believe the figures of Exxon before the increase it reads that they had over 400 billion in sales, costs of 334 billion, showed income of 70 billion, and paid income TAX of about 30 billion in 2007.

So since prices are up this year the income tax may goto like 60 billion if they not too brave at doctoring up the write offs. The meat of it is deeper in the numbers though of course on how all that 400 billion was spent. Surely it goes to those in the industry that pay income taxes in round about way. So the money comes out of peoples savings where they already paid tax and it goes into the goobermints hands by being recycled and sucked from us. What the sales be this year for them?.. maybe 800 billion?