The news you're not supposed to know...

Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
Article posted Oct 12 2012, 4:04 AM Category: Economy Source: r/Libertarian Print

Who's the villain? [Pic]

Latest Economy
- Good News: Law Schools In Decline, Bar Passage Rates Plummeting
- Singapore: The Power of Economic Freedom
- Schiff: The Shadow Rate Casts Gloom
- Neil Cavuto Embarrasses Student Who Wants Free College and Has No Idea How to Pay For It
- Pocketbook Pain: The Rapidly Rising Cost of Living Is Absolutely Killing The Middle Class in America
- The Three Industries That Love The TPP: Hollywood, Big Pharma & Wall St.
- Sexist Markets - 77 Cents On The Dollar?
- Former Reagan Administration Official Warns That Financial Disaster Is Dead Ahead

Comments 1 - 3 of 3 Add Comment Page 1 of 1

Posted: Oct 12 2012, 1:29 PM

97104 Who can fall for such obvious BS? We used 134 billion gallons of gasoline last year; and the gasoline companies did not make their monstrous $62.2 billion last year at $0.07 per gallon.

No, the above mixes up the facts a little and on purpose, too. Dividing out the above, the oil companies made $0.46 per gallon sold, and, unsurprisingly, the current federal fuel tax is $0.184. (Local taxes can add more, yes.)

Of course, part of that profit is the incentives and subsidies the government gave the oil companies, which amounted to somewhere around $7.5 billion last year. Since the government took in around $24.5 billion last year in tax, that means they gave about a third of that 0.184 back to the oil companies. So the real federal tax works out to about $0.127.

But doesn't that mean the graphic above is an outright lie?

Of course it does.

Posted: Oct 14 2012, 12:08 AM

24177 The point is (or should be) that the owner of the product should be able to offer it for trade at whatever price they see fit. The Govt has no legitimate claim to take anything from the trade, but they do have the power to enforce their illegitimate claim.
Nickel's Two Bits

Posted: Oct 14 2012, 12:32 PM

97104 Excuse me, but they do sell it for what they want: the government is taxing the BUYER not the seller. Not saying the tax is good; but if the graphic implies that the oil companies are paying this, then that, also, is a lie.

Add Comment


Verification *
Please Enter the Verification Code Seen Below

Please see our About Page, our Disclaimer, and our Comments Policy.

This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy

Advanced Search


Remember Me
Forgot Password?

New Photos Show Chicago Cops On Burger King CPU Where Laquan McDonald Shooting Footage 'Disappeared' - 12/01After Video Surfaces, Innocent Man Is Exonerated For Assault On An Officer, Cop Pleads Guilty - 12/01Putin Says 'Russia Has Proof ISIS Oil Flows Through Turkey On An Industrial Scale' - 12/01VIDEO: Off-Duty Cop Rams His SUV Into Man's Car For Trying To Hold Him Accountable For Reckless Driving - 11/30$500k Settlement Reached After Cops "Smash Man's Face Into Concrete" - 12/01Hawaii Supreme Court Rules Motorists May No Longer Be Imprisoned For Breath Test Refusal - 12/01Microsoft Lobbying Group Forces 'Pirate' to Get 200,000 Views On Anti-Piracy Video... Whole Thing Backfires - 12/01Paul Craig Roberts Rages At The "Arrogance, Hubris, & Stupidity" Of The US Government - 11/30

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up