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Now look at each state’s individual gasoline tax and their annual consumption, and the 50 states collected another $38 billion. Adding the federal and state collection together, and you have $64 billion or 159 percent more than last year’s record Exxon profit, which Robin Hood and his Merry Men want to hit with a “windfall profit tax.”
Now wait a minute. The oil companies not only make gasoline but diesel fuel, home heating oil, jet fuel, lubricants and dozens of other products that are taxed. The oil companies also pay local, state, federal and Social Security taxes, while their employees split their income with local, state and federal governments, as well as numerous other governmental programs like Social Security and Medicare, so there are enough taxes already.
Right now, this federal and state gasoline tax amounts to $4,250 per year for every man, woman and child, so do we not need a windfall profit tax, which will be just passed on to us as higher fuel charges?
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