The Real Gas Price Gouger
By Eric Peters
When gas prices jump by 50 cents (or more) per gallon, many people get angry at "Big Oil" -- and decry what they consider "price gouging" at their expense. But how come no one gets upset about the 50-70 cents (or more) per gallon in taxes imposed by government?
Federal (18.4 cents per gallon), state (35-50 cents per gallon), and local motor fuels taxes (anywhere from 5-10 cents or more per gallon) account for at least one-third of the per-gallon cost of gasoline -- an outrageous levy in both absolute terms and as a percentage of the purchase price of the item being taxed. Imagine, for instance, if you had to fork over 50 cents in taxes for every $1 or so of groceries you purchased. Continue.
When gas prices jump by 50 cents (or more) per gallon, many people get angry at "Big Oil" -- and decry what they consider "price gouging" at their expense. But how come no one gets upset about the 50-70 cents (or more) per gallon in taxes imposed by government?
Federal (18.4 cents per gallon), state (35-50 cents per gallon), and local motor fuels taxes (anywhere from 5-10 cents or more per gallon) account for at least one-third of the per-gallon cost of gasoline -- an outrageous levy in both absolute terms and as a percentage of the purchase price of the item being taxed. Imagine, for instance, if you had to fork over 50 cents in taxes for every $1 or so of groceries you purchased. Continue.
posted by HeavyHanded at
7:35 PM
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