Deficit reduction panel releases debt proposal plan

Americans used about 138 billion gallons of gasoline and about 140 billion gallons of diesel in 2009. That translates to about $28 billion in revenue there and about $7 billion from motor oil, machine oil, etc. (liquid -- not gaseous --petroleum products). Dedicating $35 billion to the debt each year pays the interest while we work on the debt itself. When you look at it like that, our national debt is staggering.

 

Nah - I've really been thinking lately that any votes from me outside the city/state level are ineffective.

True.

 

via wikipedia

wow, never realized it was 50 cents a gallon, so is that factored into the prices listed on the signs? or is some of it added on as a tax after? i dont ever look at my receipts lol maybe i should

 

"In 2009, the United States consumed about 137.93 billion gallons (or 3.28 billion barrels) of gasoline"

http://www.eia.doe.gov/ask/gasoline_faqs.asp#gas_consume_year

So, about 13.7 billion per year. Personally, I think the tax should be far higher if we are to realistically use it to retire the deficit/debt, but that's just me.

 

people only want higher taxes if it doesn't apply to them. Just look at the posts in this thread...

"great idea raising taxes as long as it's not gas tax"

"great idea raising taxes as long as I can still write off my mortgage"

"great idea raising taxes on the rich since i'm not the rich.."

 

How much could be saved annually by removing our bases in Europe and slashing our ability to project force?

 

Only the last one is valid with your statement. Again, I don't mind suffering for a period of time if it's for the good of the nation. We need a politician with balls that's will to put the words "raise" and "taxes" along with cut spending. Too bad it's political suicide.

 

I'm beginning to think ending the tax cuts for the rich was just a campaign promise lie. Democrats have mega rich people/corporations/lobbyist they have to bend over for too. They seem to just want to pretend to do good by the middle class while the Republicans don't give a damn they can Jedi mind trick poor people into voting for a platform for billionaires during each election cycle.

 

If we can really get rid of our deficit and the systemic problems that cause it, we should sell Western lands (namely BLM lands) to pay it off. (Yes, I know that most of that land is leased now, but it's not that much revenue, and I believe it costs us much more in loss productivity due to misallocated resources than it makes us.)

 

don't care which one you THINK is valid out of my statements.. Just saying the majority of people which is evident just from this thread only want to raises taxes if they personally don't feel the burden of it and its very evident just from this thread.

 

I doubt any serious attempts at tackling the deficit will be made anytime soon as long as politically difficult decisions will have to be made. It'll just be like trying to achieve energy independence, the vast majority of Americans want it, but are unwilling to sacrifice or do anything themselves to achieve it. It'll be, let the government take care of it, but protest if it requires me to sacrifice something, type of mentality.

 

I don't really see that, personally.

 

Actually the implication I get from almost all the posts in this thread is that no one would be crying if their own tax cut expired. Including a number of posters -- Billy Bob, Tschmal, rhad, the thadeus, me, and probably others -- who explicitly said they should expire. In fact, I only see 3 posters -- CaseyH, DFWRocket and rockbox -- who have any objection, with only DFWRocket mentioning an adverse effect on himself, while the others mentioned adverse societal impacts. If you see something else, point me to the posts, because I ain't seeing it.

 

I'm glad you don't care. But it's not what "I" think about your specific statement.

 

There is a big difference between adding a dime per gallon vs. a dime per barrel. I think a dime is doable on a per gallon of gasoline / diesel basis, but that is at or close to the limit that the economy can sustain.

I agree that the amount generated from an additional -- but dedicated -- tax on oil-based fuels is insufficient to rid ourselves of the debt over the next 10 years, but it is a start.

 

I'm not entirely opposed to the bill - I was just raising the point of its costs to me. I'd have to look at the bill closer. I do think that in order to reduce theh deficit, that we are all going to have to suffer a bit, and that it should be a mix of taxes and budget cuts. Although I do prefer budget cuts over taxes, we will HAVE to raise money somehow. I do prefer simplifying the taxcode, removing loopholes, etc, and understand that many people, mostly middle and upper class will be forced to pay a bit more. I'd prefer that everyone (poor excluded) pay a bit more..and nobody pays a LOT more though.
If I lose my Childcare Credit, it will definitely hurt..but in the long run, it may be better than the U.S. economy collapsing and losing my job as a result.

 

I'm not poor, I said the gas tax is hard on the lower class.

 

That's not it at all. Beyond raising revenue, taxes are designed to motivate people to do what is best for the country.

Raising taxes on gasoline makes people use less energy which is good.

Raising taxes on mortgages makes people not want to buy homes which is bad.

Raising taxes on the rich is neither good nor bad, but they can afford it the most and it has the least effect on purchasing behavior.


If we really are serious about reducing spending, we need to raise taxes a lot because only then will people realize all the services that people want aren't free. For the last 30 years, every tax cut and every spending increase has been free since we just borrowed money to provide it. Its time to pay the piper.

 

Tax cuts should expire. If we don't start taking some medicine soon as 'we the people,' the politicians will find more and more ways to stockpile their money while they embrace policy that points the middle class of this country down the toilet. All while they lie to us about the true nature of their motives in order to further their ability to bypass the realities that the rest of us are going to have to face.

The worse it gets, the less able we will be to stomach the increasingly potent medicines that will be required to recover from a sickness that is worsening.... politicianitis. What we need to do is elect people who can and want to make things bettee, then return to their normal lives, not elect people that are looking for a life of freedom from the system they create.

Why can't that happen? I know the propaganda is thick, but is there not a way to rally the people towards something actual and positive?

 

I doubt it, unfortunately. People are dumb. /cynic