Don't expect lower gas prices any time soon


Democrats in the House passed a huge tax on those evil, dreaded, baby killing "big oil" companies.

Declaring a new direction in energy policy, the House on Saturday approved $16 billion in taxes on oil companies, while providing billions of dollars in tax breaks and incentives for renewable energy and conservation efforts...

"This will save consumers money," said Rep. Tom Udall, D-New Mexico

Umm. No. Oil companies don't pay taxes, they collect them. They collect them from consumers like you and me.

Companies themselves are just entities, and no matter the industry taxes levied on goods and services are passed on to consumers, employees, or stockholders. That means if Democrats are able to reconcile this bill with the Senate bill passed in June and get it passed, you should expect to pay higher prices at the pump.


Comments

Even without the Demiclowns, we'd be in trouble. Oil closed out at over 78 dollars a barrel for awhile last week, a new record. That's going to mean more cash for less gas before long.

Posted by: The Hermit at August 5, 2007 5:34 PM
Post a comment









Remember personal info?


- SPAM safe, Email address is NEVER displayed to the public
- all your comments are belong to us.  
- No HTML.
- Comments may be closed on posts older than 30 days.






(c) Ravenwood and Associates, 1990 - 2014

About Ravenwood
Libertarianism
Libertarian Quiz
Secrets o' the Universe
Email Ravenwood

reading
<Blogroll Me>
/images/buttons/ru-button-r.gif

Bitch Girls
Bogie Blog
Countertop Chronicles
DC Thornton
Dean's World
Dumb Criminals
Dustbury
Gallery Clastic
Geek with a .45
Gut Rumbles
Hokie Pundit
Joanie
Lone Star Times
Other Side of Kim
Right Wing News
Say Uncle
Scrappleface
Silflay Hraka
Smallest Minority
The Command Post
Venomous Kate
VRWC


FemmeBloggers


archives

search the universe



rings etc

Gun Blogs


rss feeds
[All Versions]
[PDA Version]
[Non-CSS Version]
XML 0.91
RSS 1.0 (blurb)
RSS 2.0 (full feed)
 

credits
Design by:

Powered by: Movable Type 3.34
Encryption by: Deltus
Hosted by: Bluehost

Ravenwood's Universe:
Established 1990

Odometer

OdometerOdometerOdometerOdometerOdometer