AOL Poll on Gas Tax

[Frustratedlady]

http://articles.news.aol.com/news/article.adp?id=20060423134509990005&ncid=NWS00010000000001

[gristy]

1. Excellent. The Dems can get way out in front on this one...

Should the government tax oil firms if they make excessive profits?
Yes 87%
No 13%
Total Votes: 133,691

[sinkingfeeling]

2. Loved it! Thanks. It seems to be going our way.

[guidod]

3. Done! still at 87% yes

[Mr.Green93]

4. Gas prices should be lower and the taxes higher

Tax the Oil Pigs not the consumer.

[Warpy]

6. Well, the gas is taxed at a fixed amount

and it covers the cost of highway repairs. Thus people who drive gas guzzlers that stress the roads more will end up paying more in taxes.

The tax on gas is now chump change in relation to the cost of the gas, itself.

But yes, there needs to be a windfall profits tax. We have needed one since the 1970s, but neither party has had the backbone to stand up to the oil corporations and get one passed.

[whododayis]

5. the bigger question is what should be done with the tax revenue?

Do we 'refund' it to the taxpayers who were largely responsible for the big profits? Do we put it into research for alternative fuels? Do we add it to the general fund where it will undoubtably find its' way back into some well connected special interest pocket? Do we use it to pay down the debt? Any thoughts?

[Imajika]

7. Ummm..

Won't the oil companies just pass that tax right back to the consumer in the form of a hike in gas prices?

So in effect, if you want to tax the oil companies more, aren't you basically asking to pay more for gas?

Does anyone actually think the oil company would just absorb this new cost?

[ComerPerro]

8. Tax their profits, they will just up prices next quarter

they will take that tax and then use it as a reason to increase costs.


But, then again, they are raising prices without merit anyway, so I don't know how this would be much different.

[gristy]

9. Mostly the markets set the gas prices

Taxing the oil company's profits won't raise prices. If it did, you could argue that the taxes on the oil companies should actually be reduced since this will result in lower gas prices. That is almost a republican argument, but I don't think they've gone that far...

[Imajika]

11. I'd bet it would raise prices..

Taxing the oil company's profits will have an effect.

They will not just eat that cost. These oil companies all have the same basic model. Raise their costs, they will probably change their prices to make up the difference. They will recoup that cost one way or the other...period. Whether it be adding the new cost to the price of gas, firing workers, cutting worker benefits, or some combination of all of those things and more.

I'd bet it would be a hike in gas prices.

I'm not against the government collecting revenue through corporate tax, I'm just wondering if this idea would help the consumer at all at this time that we are addressing high gas prices. My guess is not only wouldn't it help the consumer, it would make things worse.

[whododayis]

13. that's a very valid point. don't all corps. pass on taxes to the consum

[Mrspeeker]

10. taxing to make more money for the government,

So the government gets a bigger chunk of the dirty oil money so it can go fight more wars for oil! humm seems like someone is pulling some strings here.

Better idea:
A gas cap similar to WWII.
This would be the only thing that actually benefits the american people. Taxing will just create more revenue for the government which is all we need LOL.

[AzDar]

12. 87% - 13% ...... n/t

[LynneSin]

14. There is no excuse that these people profit as the rest of the country...

...sinks.

This summer, vacations will be cancelled and this will have a major impact on the economy since many states rely on tourism as part of their economy. I know here in Delaware we benefit from our coast line with people lining up for summer house rentals. But who wants to spend $40 every weekend round trip to head to the beach when you can just veg out at home and save money?