An anniversary of sorts...

From the Cajun.

1932 – The Revenue Act of 1932 is enacted, creating the first gas tax in the United States, at a rate of 1 cent per US gallon (1/4 ¢/L) sold. Today the taxes FAR exceed the profits that greedy Big Oil gets on a gallon. But few people know that. You see, the state-run media wants you to think of EVIL Big Oil, not Big Government…

The current Federal tax on gas is 18.4 cents per gallon. In North Carolina I pay an additional 48.6 cents per gallon. Profits for the oil and gas industry on what’s left is about 9.5% per this article. At he current price of $2.63 a gallon the evil oil Companies get about 18.6 cent a gallon [I know. It varies from state to state]. Government [all flavors included] profit more than the oil companies. Maybe they want to consider that as they screw with “big oil”. Oh that’s right; taxes on “alternative energy” will make up the difference. Oh, and this doesn’t even address whether gas taxes need to be this high to begin with or even exist.