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  #1  
Old 05-10-2013, 12:56 PM
Franc Tireur Franc Tireur is offline
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Are high gas prices another Wall Street scam?

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Any thoughts on this?
 
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Old 05-11-2013, 01:12 PM
dvduval dvduval is offline
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It is important to recognize that both the price of gas and the tax on it are "regressive". In other words, someone making $20,000/year might pay 3% of their income in gasoline tax, while someone making $1 million/year would pay something like 0.03% of their income on a gasoline tax.

Social security is another example of regressive taxation.
 
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Old 05-11-2013, 06:51 PM
Franc Tireur Franc Tireur is offline
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Quote:
Originally Posted by dvduval View Post
It is important to recognize that both the price of gas and the tax on it are "regressive". In other words, someone making $20,000/year might pay 3% of their income in gasoline tax, while someone making $1 million/year would pay something like 0.03% of their income on a gasoline tax.

Social security is another example of regressive taxation.
Actually, the high price of the gasoline is pure speculation. Today we should pay 300% less. Wall Street is very good at manipulating the commodities. Just to give you an example, the speculation on the wheat starved to death more than 200 millions of people in Africa.
 
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Old 05-17-2013, 12:41 PM
dvduval dvduval is offline
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Originally Posted by Brave7 View Post
Actually, the high price of the gasoline is pure speculation. Today we should pay 300% less. Wall Street is very good at manipulating the commodities. Just to give you an example, the speculation on the wheat starved to death more than 200 millions of people in Africa.
But it is not just Wall Street. With China adding so many new cars and growing so fast in general they are increasing the demand for gas. That said there are people who manipulate the contracts, but that is more temporary, and they have been cracking down on them.

In some ways gas should cost more because the price of extraction is not the only cost. There is also the cost of cleaning up spills, the costs associated with pollution, and the cost of returning the land where the oil was mined (ex. shale) back to the way it was before the mine existed there. Unfortunately none of those costs are fully assessed to companies like Exxon, the most profitable company in the world (right?).
 
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Old 05-17-2013, 01:32 PM
Franc Tireur Franc Tireur is offline
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Originally Posted by dvduval View Post
But it is not just Wall Street. With China adding so many new cars and growing so fast in general they are increasing the demand for gas. That said there are people who manipulate the contracts, but that is more temporary, and they have been cracking down on them.

In some ways gas should cost more because the price of extraction is not the only cost. There is also the cost of cleaning up spills, the costs associated with pollution, and the cost of returning the land where the oil was mined (ex. shale) back to the way it was before the mine existed there. Unfortunately none of those costs are fully assessed to companies like Exxon, the most profitable company in the world (right?).
Do you believe in the gasoline scam?

If they wanted to, we will be able to run any engine with clean energy. For example water engine, unfortunately all the inventors are disappearing mysteriously

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