Essay On Gas Tax

Gas is something we need in our day-to-day life to operate vehicles that bring us places we need to go. Without gas we can't go on living our normal lives. Sadly the prices of gas are not pleasant to the consumers at times, but we have to deal with it. Around the year 2012 gas was a staggering $ 3.60 average and was $4.00 at time, the people were asking the government to mandate gas prices. Although if the government were to mandate gas prices, the prices would be more appealing to the consumers, but not for the long run.

The soda industry has been influential since its breakthrough such as companies like Coca-Cola “giving money to and maintaining a cozy relationship with the Global Energy Balance Network, a nonprofit that promoted exercise over diet to combat obesity, the financial relationship between soda companies and public health groups have been scrutinized” (Blackmore). The city of San Francisco is bringing back the soda tax proposition which will add 2 cents on soda per ounce. Last time around it wasn’t as successful only getting half of the votes when they needed, at least, seventy-five percent. This time around they will only need the half of votes they got the last time. San Franciscan's should pass the soda tax because it would discourage people

Once upon a time Americans hopped into their cars on warm spring days and took long drives to admire the beauty of nature. Teenagers took joy rides around town to meet friends and rode from one “hot spot” to another. Those were the days when gas prices were affordable to the average American. Over the past few years, gas prices in the United States have been on the rise. What is causing the increase in gas prices?

1. Which tax is calculated on the transfer of property and is normally determined by multiplying the value of the property transferred by a tax rate?

One of the major problems that this act of legislation causes economically is an unequal taxation of different groups based on their income. Those who make $400,000+ are taxed a rate of 39.6% of their total income. (H.R 8, 112th Congress) This does not incorporate sales tax and property taxes that are also taken each year as well. In the book “Economics in One Lesson” by Henry Hazlitt, one topic that is discussed is how taxes discourages production. In the case of The American Taxpayer Relief Act of 2012, those who are of working class category will not see a change in their tax rates. This is great since the monetary funds that they do not pay in taxes they can either invest or use in the market. However, the taxes for those who are of upper class status have the burden. As Hazlitt

tax is not among the highest. According to Singer's (Aug 24, 2017), the Connecticut 6.35 percent sales tax ranks thirty-two in the US. It is higher than certain state such as Massachusetts, and lower than others, such as Rode Island and New York. As Connecticut tries to grow its economy and fix it budget crisis with higher sales tax, will create a financial problem for the lower and middle classes. "Based on estimate produced by ITEP data, low income families spend seventy five percent of their income on items subjected to sales tax, higher than fifty percent spent by middle-income families and seventeen percent spent by the richest families”(ITEP). Considering this, the tax do not affect upper income families,but low and mid-income people who cannot afford the tax . Comparing gas tax to other states shows that, Connecticut’s gas tax is not among the highest. According to the graph provided by the ITEPS research report (July 2017), Connecticut’s four percent gas tax is higher than certain states such as Kentucky, South Dakota, and Michigan, but lower than other states such as Alaska, Louisiana and New Mexico.

The American Revolution happened between 1763-1783 and it happened because the colonists were appalled with Great Britain’s new tax laws. The revolution had begun to raise questions on slavery and equality. The main reason for the revolution seemed unjust and unfair to slaves since it mainly applied to white males and not to them. Then the market revolution in 1800-1840 and the anti-slavery movement in 1830s raised even more doubts for women as well as slaves regarding equality between genders and race. As time went by these ideas became more clear since slavery was vanishing from many other places except from the united states.

Supply and demand is best describes as the varying of prices of a specific service, product or commodity and the desirability for consumers. In theory, the supply and demand model works best for markets that are normally in perfect competition. Now in order for this desired market to work, there has to be a numerous amount of sellers and a numerous amount of buyers that have no real or major impact on the pricing of goods and services. In the follow essay, we will receive a better understand on what the supply and demand really is, further discuss a brief historical perspective on the supply and demand in comparison to the fickle prices of gasoline, go into detail about government involvement in gasoline prices, and finally examine how the supply and demand of gasoline is applicable in our everyday lives.

For instance, the fair tax is “regressive” implying that substantial tax burdens are placed on the shoulders of the poor people. This concept is true because the fair tax applies only when someone is spending on consumption (Hodge, 2017). The poor people spend almost everything they earn on their subsistence consumption. On the other hand, sale tax will encourage the rich people to avoid paying tax by minimizing consumption and embracing savings and investment.so they are the most affected group which means the federal government will have challenges in addressing the issue of poverty and

There could have been outside elements that could have swayed Bush or Obama into extending the tax cuts but private interests were clearly involved to allow this to continue. Over the past couple of years, the government is faced with shut down because of law of funds and debt but still continue to allow the hyper wealthy and large conglomerates to continue to reap immense profits without paying their fair share.

Increasing the United States federal gasoline tax is currently a debated issue as a means of curtailing dependency on foreign oil and improving the country’s environment. An increases, however, would be regressive and would place another hardship on citizens who already feel as if taxes are too high. Because of the unpopularity of such a tax, nationally elected officials have not seriously floated the plan as means of raising revenue, but it could be used as a means to progressively cut income taxes.

When you hear the unemployment rate is only 4.9% it sounds really good to the ears. Then you find out that is 15,626,100 people without a job it doesn’t seem so nice. I am tired of hearing people saying the are going to create jobs and then the jobs never appear, and I’m sure you are to. When I hear someone say they are going to do something I expect it gets done, there are no if and's or buts about it. Yes over the past few years the unemployment rate has been dropping but it is still there and that simply isn’t acceptable.

According to the following articles; "Retailers Pan Democrats' Proposal To Raise State Sales Tax" by Stephen singer, “The efficiency of market and the cost of Taxation” in Dirk Mateer and Lee Coppock’s, Principles of Macroeconomics 2nd ed.,"How Sales and Excise Taxes Work", "Most Americans live in States with Variable-Rate Gas Taxes", "How Long Has it Been Since Your State Raised its Gas Tax", and "Building a Better Gas Tax" from, www.itepnet.org and www.ctj.org, the authors informs the reader about the consequences the government's decision to increase gasoline prices and high state sales tax to fix transportation systems in Connecticut can have a negative impact on the lives of low income family. In Stephen singer’s article, Connecticut

At some point in everyone’s lives, we are affected by the rising gas prices in today’s economy. Natural gas is not a renewable resource, since there is a fixed amount of it trapped in the Earth. However, many people carry the misconception that there is a very limited amount of natural gas, and that we may use all of it up. This isn’t true. The gas shortages of the 1970's were prompted by the government’s lack of faith in the industry’s ability to discover and develop new reserves, not by lack of gas supply. The unfortunate impression left by the shortages of gas in the 1970's caused the people to believe that there was a small amount of gas left. On the contrary, the gas resource base is vast, and probably even

9. If the demand for a good is perfectly price inelastic in the short run and the supply curve is upward sloping, imposing a sales tax on the good will