If you knew you could save all of your gasoline receipts during the previous year and present a valid drivers license to the federal government at tax time. Wouldn''t it be nice to claim your gas consumption on your federal taxes and get decent refund for your money that you paid out in gas.
If you answered yes. Then call, write or e-mail your federal elected officials or go directly to their office and tell them you want a gasoline tax credit now. Oil companies are making big bucks. Why can't we make our bucks too ?
2007-05-23 16:58:19 · 3 answers · asked by J 4 in Business & Finance ➔ Taxes ➔ United States
Yes that would be great. Did you know that you get a tax break if you buy a hybrid vehicle?
2007-05-23 17:07:45 · answer #1 · answered by southernstyle352 3 · 0⤊ 1⤋
At less than 20 cents per gallon, it will be less money than you think. If you used 500 gallons of gas (not unusual) you'd get less than $100 back.
However, as gas taxes are used for federal highway funding, how do you propose making up for the lost revenue for highway construction and maintenance?? We could jack up income taxes about $100, that would cover it. But you'd have $0 in savings.
I agree that the oil companies are taking us to the cleaners -- the wholesale price of crude today is less than it was a year ago when prices were 60 cents a gallon less than they are right now. Guess who has the $$$? Big Oil, of course! If we gang up on our elected representatives to fix that, we might see some relief. But refunding the gas tax won't fix anything and will cause more problems to boot.
2007-05-24 02:39:39 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 1⤋
It sounds great, but where do you propose that the government find the money to do this?
2007-05-24 01:44:46 · answer #3 · answered by Anonymous · 1⤊ 0⤋