Corporations price gouging or the U.S. Government?

[OrangeEmpire]

On average an oil company receives 40 cents a gallon off of a gallon of gas sold. (Profit)

The U.S. Government receives an average of 58 cents a gallon for every gallon sold......

The Tax Foundation - State and Federal Treasuries "Profit" More from Gasoline Sales than U.S. Oil Industry

From The Tax Foundation: (via TaxProf Blog and Instapundit) Since 1977, governments collected more than $1.34 trillion, after adjusting for inflation, in gasoline tax revenues more than twice the amount of domestic profits earned by major U.S. oil company

Any one see a problem with that?

Thoughts?

 

[volinbham]

Only when George Bush does it

 

[OrangeEmpire]

Check out the graph...........during the Clinton administration taxes hit over 60 cents a gallon.

 

[Arclight]

Ky Fuel tax = 18 cts

Tn = 21 cts

 

[OrangeEmpire]

I cannot wait to move back to Kentucky....

 

[VOLracerx]

Check out the graph...........during the Clinton administration taxes hit over 60 cents a gallon.

and you are complaining b/c the price was a buck a gallon?

Also - look how low the profits were at that point.

 

[OrangeEmpire]

and you are complaining b/c the price was a buck a gallon?

Also - look how low the profits were at that point.

I must have mismade my point.......

You do not find it frightening how much tax revenue the state and federal government receive?

 

[vader]

I must have mismade my point.......

You do not find it frightening how much tax revenue the state and federal government receive?

I do. The worst part is the amount of waste and mis-management of the money that they bleed out of us.

 

[volinbham]

Also, while the oil companies' profit margins have fluctuated greatly, there has been a steady climb in the tax RATE on gasoline.

For all the talk about tax breaks for the "rich", very few taxes are as regressive as the tax on gasoline.