I was filling up my truck the other day and the total came to $70.69 for 22 gallons of gas (regular unleaded). I got to wondering about how much tax I had just payed, here’s how it works out:
Federal taxes per gallon of gas @ .184 cents per gallon = $4.05
State and local taxes per gallon @ .456 cents per gallon = $10.03
In filling up my tank with gas I paid $14.80 in federal, state, and local taxes. Surely if anyone is serious about reducing the cost of gas they could have an immediate impact by reducing the tax burden alone.
I can’t even imagine the increased sales tax take for the state of California due to increased sales tax revenue alone from gas that is selling at $3.20 a gallon instead of $2.40.
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