Here in Australia the Federal government halved the excise tax on petrol/gasoline for six months from March. It seems the prices are going back up again.
Although I am tempted to buy a new car, however it is powered, I simply am not going to. Every time I look at site I have a pop-up asking what I am looking for. I normally ignore, but now answer "would like to buy, but won't until there's a total reset of the auto industry"
Cutting gas taxes is not a fix! Just encourages more use – fatter profits for oil companies, more global warming. Excess profits tax MIGHT help, so might anti-monopoly laws. Trouble is, too many politicians are in hock to oil cartel; they’re highly unlikely to help, even if it’s the right thing to do!
I agree. This is a complex problem. You could also point out the role lobbying, Congressional stockholders, and tax forgiveness by states contributes to this problem. These mega corporations play a huge hand in whether we have an autocracy or democracy.
Money in politics is the root of most evil, Sharon. That’s why there’s no law making profiteering illegal! There should be, but politicians are just in hock to the giant corporations … and WE pay for it!
I have a question. How are higher profits linked (if they are) to higher stock prices?
There’s no short answer to that question, Shannon. But here’s a link that will lead you to a good (albeit slightly longer) one. Good luck!
https://www.investopedia.com/investing/why-do-companies-care-about-their-stock-prices/
Here in Australia the Federal government halved the excise tax on petrol/gasoline for six months from March. It seems the prices are going back up again.
Although I am tempted to buy a new car, however it is powered, I simply am not going to. Every time I look at site I have a pop-up asking what I am looking for. I normally ignore, but now answer "would like to buy, but won't until there's a total reset of the auto industry"
Life goes on.
Cutting gas taxes is not a fix! Just encourages more use – fatter profits for oil companies, more global warming. Excess profits tax MIGHT help, so might anti-monopoly laws. Trouble is, too many politicians are in hock to oil cartel; they’re highly unlikely to help, even if it’s the right thing to do!
The only way to fight greed is to BOYCOTT the greedy!! Stop buying their stuff until the price drops! It’s the only language they understand.
I agree. This is a complex problem. You could also point out the role lobbying, Congressional stockholders, and tax forgiveness by states contributes to this problem. These mega corporations play a huge hand in whether we have an autocracy or democracy.
Money in politics is the root of most evil, Sharon. That’s why there’s no law making profiteering illegal! There should be, but politicians are just in hock to the giant corporations … and WE pay for it!
Very interesting article Warren, although high finance is always above my head. Hope something can be done to bring prices down,