Gasoline prices at the pump are on the rise... the policies of the Fed and treasury have now diven oil prices up some 30% in the past few weeks... compounded by their desire to see a weaker dollar...
Ah, but have you noticed that there hasn't been one word of concern from our cash strapped state and local government's??? The now dollar rise in pump prices equates to an approximately 31% increase in sales tax revenue...
Based on a daily consumption of 1.14 billion gallons of gasoline here in California alone, that amounts an increased daily "take" to the state coffers of $70 million dollars, ... plus any add on sales tax to the counties...
The silence emitting from Sacramento, Albany, Springfield, Harrisburg, Boston, Tallahassee, Juneau, Annapolis, Austin, Atlanta and the rest, is deafening...
I'm not sure just how much longer that we can afford these tax cuts...
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