Most gasoline taxes are a cents per gallon fee. The Federal tax, for example, is 18.4 cents per gallon.
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Originally posted by: chafraho
I wonder what the low gas prices will do to a multitude of various social services (pc correct term for entitlement programs, mebbe) over the next few years? I wonder if many states will experience massive tax revenue shortfalls due to missing tax revenues? If so, I wonder who might be affected by these revenue shortfalls? I wonder if they'll be upset? I wonder if they'll complain? I'm pretty sure that if prices surge, the social services budgets won't be refunded quite as quickly as the budget cuts occur, as in financial crisis of 2007/2008. I wonder if the Fed will "bail out" the states as they did private industry and financial institutions? I wonder if other programs, such as hiway construction/maintenance, law enforcement, governmental wages/benefits/bonuses , health care programs, VA or Social Security benefits/programs, etc., will be affected? I wonder if the majority of the populace will be concerned if these non-entitlement programs are inhibited by budget cuts.
Don't get me wrong. I'm all for cheap gas. I like gas that's under 1.75 a gallon, and would like it more at under a dollar a gallon. It should have been cheap all along. I sadly suspect that the grossly high prices over the past couple of decades has not been the result of supply and demand (no proof, just suspicion). I'm not an economist, or market analyst, or investor; I'm just a common idiot that has a lot of questions about WTF is going on here. I'm just thinking and wondering in print on a Vegas related forum, that's all.
