Who gains from pausing the gas tax? Probably not drivers — or Biden

floridafan said:
Who knows where chip production went, but the auto companies didn't want any and now they are stuck.
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HAHAHAHAHAHAHAHAHAHAHA! You are apparently COMPLETELY UNAWARE where electronic components are manufactured these days!

Let me clue you in:
Most resistors, capacitors, inductors, and crystals are made in Japan, some in South Korea.
Almost all displays are made in Japan.
Stock chips, or so-called 'jellybean' chips (such as smaller low level integration such as TTL and CMOS chips) are made in Japan and South Korea.
Microprocessors are primarily made in Mexico and Japan.
Cases and most hardware is made in Japan, with quite a lot still made in the States.
Custom chips are rather a specialty of Taiwan. They also make some ARM designs.
Circuit boards are made in Taiwan, Japan, China, and South Korea. Motherboards for personal computers primarily come from Japan and South Korea.
Electronic tubes (yes, we still use them!) are primarily made in Russia. There is a Japanese supplier as well.
LEDs are made in Taiwan, China, Japan, South Korea, and the States.
Mechanical components are made in China, Japan, and the States.
Epoxies and insulators are made primarily in the States.
Automotive components (such as axles, gears, shafts, body components, locks, interior, glass, etc.) are made where the car itself is made, including in the States, in Mexico, Japan, and EU.

Most electronics component manufacture went overseas due to EPA regulations, taxes, and high costs in the States...all caused by Democrats.
 
Into the Night said:
HAHAHAHAHAHAHAHAHAHAHA! You are apparently COMPLETELY UNAWARE where electronic components are manufactured these days!

Let me clue you in:
Most resistors, capacitors, inductors, and crystals are made in Japan, some in South Korea.
Almost all displays are made in Japan.
Stock chips, or so-called 'jellybean' chips (such as smaller low level integration such as TTL and CMOS chips) are made in Japan and South Korea.
Microprocessors are primarily made in Mexico and Japan.
Cases and most hardware is made in Japan, with quite a lot still made in the States.
Custom chips are rather a specialty of Taiwan. They also make some ARM designs.
Circuit boards are made in Taiwan, Japan, China, and South Korea. Motherboards for personal computers primarily come from Japan and South Korea.
Electronic tubes (yes, we still use them!) are primarily made in Russia. There is a Japanese supplier as well.
LEDs are made in Taiwan, China, Japan, South Korea, and the States.
Mechanical components are made in China, Japan, and the States.
Epoxies and insulators are made primarily in the States.
Automotive components (such as axles, gears, shafts, body components, locks, interior, glass, etc.) are made where the car itself is made, including in the States, in Mexico, Japan, and EU.

Most electronics component manufacture went overseas due to EPA regulations, taxes, and high costs in the States...all caused by Democrats.
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You are so full of shit that I cant even begin
 
floridafan said:
You aren't the brightest crayon in the box:

"Given that from 2017 to 2018 stock buybacks by S&P 500 companies increased by $287 billion (from $519 billion to $806 billion), the reality is that, through the corporate tax cuts, the federal government essentially funded $92 billion in buybacks by issuing debt and printing money to replace the lost corporate tax" ..
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not sure who you are quoting, but they are obviously lying......try finding some legitimate sources you aren't afraid to link to.......
 
Earl said:
Who gains from pausing the gas tax? Probably not drivers — or Biden

Even if Congress was in a mood to cooperate with Biden’s plan, most studies show that only a small portion of the savings from halting the tax would make its way to consumers.
Joe Biden speaks at the White House.

President Joe Biden also asked states to either halt their own fuel taxes or find other ways to help consumers. | Drew Angerer/Getty Images

By Tanya Snyder

06/22/2022 06:00 PM EDT

President Joe Biden’s call for a gasoline tax holiday took immediate flack Wednesday from Republicans, key congressional Democrats and even some industries that favor lower fuel costs.

But what would it actually do?

The hard realities: Even if Congress was in a mood to cooperate with Biden’s plan, most studies show that only a small portion of the savings from halting the tax would make its way to consumers. Meanwhile, the tax pause would take money away from Biden’s signature infrastructure law — and it probably wouldn’t offer his party much help with voters in November. It does, however, give Biden some cover to appear as if he’s at least trying to tackle an issue that’s hitting Americans in the pocketbook.

Here are some details you need to know about Biden’s proposal, which is unlikely to become reality:
What exactly has Biden proposed?

The White House wants Congress to suspend the 18.4 cents per gallon federal gasoline tax and 24.4 cents per gallon federal diesel tax for the next three months, “to provide direct relief to American consumers who have been hit with Putin’s Price Hike.” Biden also asked states to either halt their own fuel taxes or find other ways to help consumers. For example, California has considered $400 direct payments to vehicle owners. Chicago has been sending drivers $150 gas cards and $50 transit vouchers.
Biden proposes suspending the federal gas tax for three months
What are the chances of a gas tax holiday happening?

Slim.

Congress creates the laws that raise — and spend — money. But the lawmakers that Biden would need to enact his proposed pause in gasoline tax collections are lukewarm at best. A handful of Democrats are on record as supporting the idea, but many of them dislike Biden’s proposal — because it doesn’t go far enough.

Critics of a tax holiday include House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, who have said a pause would bring only meager savings for consumers but could enrich oil companies that are already earning record profits. Instead, they prefer legislation that would penalize price gouging by oil companies (who deny gouging).
Would the tax holiday save me money?

Probably not as much as you think.

If the 18.4 cents-per-gallon tax were paused as Biden has asked, consumers would save about $3 on the $75 it costs to fill up a standard sedan or crossover, assuming 15 gallons purchased at $4.98 a gallon.

And motorists may not even see that much. One reason Democratic leaders have opposed a gas tax holiday is skepticism that oil companies would pass along the savings at the pump, as opposed to just pocketing the extra money.

State-level gas tax holidays have yielded a mixed picture.

White House
Biden announces a likely doomed gas tax holiday

By Sarah Ferris and Adam Cancryn

The University of Pennsylvania’s Wharton School examined the impacts in the states that have paused their gas taxes in the last few months and found that in Maryland, 72 percent of tax savings were passed onto consumers, compared with 58 percent to 65 percent in Georgia and 71 percent to 87 percent in Connecticut. Still, the Wharton researchers found that “these price reductions were often not sustained during the entire holiday.”

And the dollar amount Wharton put on the savings from a potential gas tax holiday at the federal level was meager. In March, they found that suspending the federal gas tax through December would save the average person between $16 and $47 on gas while lowering federal tax revenue by about $20 billion.

Drivers would easily forget the small savings in the gas tax amid daily fluctuations in fuel prices, which can “drop or surge by 10 to 20 cents a gallon in a single [trading] session,” said Tom Kloza, global head of energy analysis at the Oil Price Information Service. It could even backfire: “The problem with an 18 cents a gallon gas tax holiday is that it juices up demand when the supply-and-demand balance is already tilted toward tight supply.”

Kloza suggested that limiting U.S. fuel exports — thus keeping more of the gasoline supply at home — could be a more effective way of reining in domestic prices.
How would the tax vacation affect federal infrastructure spending?

In short, the government would have less money for projects such as highways, transit, bridges and related programs involving the environment and racial equity — including Biden’s prized $1 trillion-plus infrastructure law.

The federal government deposits taxes on gasoline and diesel fuel into the Highway Trust Fund, which it uses to pay for infrastructure projects across the country. According to the Congressional Budget Office, tax revenues into the fund in the current fiscal year should amount to about $44 billion, assuming the status quo.

https://www.politico.com/news/2022/...as-tax-probably-not-drivers-or-biden-00041536
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Hey Bozo, if the Federal Tax on gasoline is no big deal, then you shouldn't complain if Biden Doubles it!

Perhaps we should double the federal taxes on gasoline so that we can send Gas stamps out to the nations poorest people!

Since you say it's nothing- you shouldn't feel the pinch! :laugh:
 
Into the Night said:
HAHAHAHAHAHAHAHAHAHAHA! That's called 'net' dude!
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Floridafan has made it quite obvious that he doesn't know what he is talking about.

I bet he also goes around screaming "BIG OIL is raking in RECORD PROFITS!!! BILLIONS IN PROFITS!!!! PRICE GOUGING!!!! GRRRRRRRR!!!!!" without having any idea what a profit margin is, what the profit margins of these companies are, how much expenses these companies incur, or what the COGS of these companies are.
 
Geeko Sportivo said:
Hey Bozo, if the Federal Tax on gasoline is no big deal, then you shouldn't complain if Biden Doubles it!
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Not what he said... Pay attention.

Geeko Sportivo said:
Perhaps we should double the federal taxes on gasoline so that we can send Gas stamps out to the nations poorest people!
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No. Fuck your socialism. Why should I pay for YOUR gas?

Geeko Sportivo said:
Since you say it's nothing- you shouldn't feel the pinch! :laugh:
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Not what he said. Pay attention.
 
gfm7175 said:
IOW, you are doing this, hoping that ITN's assertion will suddenly disappear:

:seenoevil:
:hearnoevil:

Libtards are quite good at covering their eyes and ears...
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if we could pay our workers no more than $5.00 per hour and do away with all benefits, health, life, 401K, pension,
we may be able to complete with foreign manufacturing. Short of that, companies will continue to outsource their production.
 
Geeko Sportivo said:
Hey Bozo, if the Federal Tax on gasoline is no big deal, then you shouldn't complain if Biden Doubles it!

Perhaps we should double the federal taxes on gasoline so that we can send Gas stamps out to the nations poorest people!

Since you say it's nothing- you shouldn't feel the pinch! :laugh:
Click to expand...

"... so that we can send Gas stamps out to the nations poorest people!"

Why should I or anyone else pay for your gas.

Get a job, pendejo.
 
As noted above, no one knows what part of the gas tax savings will be passed on to the customer.

Biden does not know how to tie his shoes, let alone how to solve complex problems that he created.
 
Earl said:
"... so that we can send Gas stamps out to the nations poorest people!"

Why should I or anyone else pay for your gas.

Get a job, pendejo.
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I don't need a job. I have all the income and money I need for the rest of my days!

I make money in my sleep!

I don't really use much gasoline either- SO THE PRICE OF GASOLINE DOES NOT IMPACT ME!

My concern right now is for the poorest people of the nation to be able to hang on through the gasoline shortage.

I live here in Dallas county, Texas. Several million people drive through our county every day commuting to work here- BUT THEY LIVE IN COUNTIES OUTSIDE MY COUNTY.

I think Dallas County should make all of the Highways and Freeways here Toll roads. If you live here you get a free pass to use our freeways- If you don't live here- TOLL THE FUCKING SHIT OUT OF THE PEOPLE THAT WORK HERE BUT DON'T PAY TAXES HERE.

All of these millions of people that commute here daily SMOG UP OUR CITY- CREATING HUGE TRAFFIC JAMS FOR THE PEOPLE WHO DO LIVE AND PAY TAXES HERE.

These people who commute here sit on good jobs, that people who do live here and pay taxes here would certainly like to have.

As a result of these people sitting on these jobs that don't live or pay taxes here, the people that do live here and pay taxes here are forced to have to commute back and forth to counties adjacent to Dallas County just to bring the bacon home, WHEN THEY SHOULD BE ABLE TO FIND WORK HERE IF THE JOBS WERE NOT ALREADY TAKEN BY THOSE THAT LIVE ELSEWHERE.

If that ain't back-asswards- I DON'T KNOW WHAT IS- BUT THIS MUST CHANGE!

PEOPLE BETTER LIVE AND WORK IN THE SAME COUNTY NOW AS GASOLINE HAS BECOME IN SHORT SUPPLY, AND THE GASOLINE MANUFACTURERS ARE DOING NOTHING TO UP THEIR PRODUCTION OF GASOLINE TO BRING THE PRICE DOWN. Why- Because it hurts their windfall profits- and they would not be able to laugh all the way to the bank everyday- WITH YOUR MONEY!

Meanwhile Gasoline Manufacturers are enjoying making annual profits exceeding 1000%- by taking advantage of the shortage that they are causing.

So the Gasoline manufacturers have no incentive to produce more gasoline and that is how the gasoline business is going to remain. They have learned how to cause the problem- milk the problem, exploit the problem, and take advantage of the problem- SO DON'T EXPECT THINGS TO EVER CHANGE NOW!

Because of this- People will start buying more electric cars. Crude Oil, essential to the manufacturing of Gasoline was going to only last another 40 years before it was all used up anyway.

People will convert their vehicles to natural gas. People will work closer to home. People will have to look at fuel efficiency like they never had before.

The country is drunk on gasoline- BUT THEY ARE ABOUT TO SOBER UP!

It has nothing to do with politics- It is a matter of survival now!

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