Sunday, July 10, 2022 12:15:24 AM
I suspect that when they look at the number many things, like your mortgage or rent, your utilities, etc. haven't gone up at all, then they add higher prices for food, gas etc. and it comes out to 8%. It's probably about right when you think of it that way for the average person.
I'm not suggesting that we shouldn't complain about it, here in California our gas prices are the highest in the U.S. and they actually just added some additional taxes to it. I don't mind paying for the infrastructure repairs that are needed, but most of the time I don't find the repairs to be very permanent, they're constantly having to repave streets that had been repaved a couple years ago. Perhaps more importantly they're able to create huge surpluses and just keep letting them build, rather than lowering tax rates. I really believe that taxes on gas could be lowered, or eliminated, until prices fall below some threshold value, say $5, still on the high side, but much lower than what we're paying.
Our business models are a big part of the problem as well. As costs go up, so do profits. A manufacturer who has the price of the raw material used go up by a nickel doesn't just add a nickel to the price, he adds a dime. If the product goes through a middle man, he'll probably kick it up by a quarter and the retailer will take it to 50 cents. Everyone up and down the line has added profit to a nickel's price increase and it ends up costing ten times the actual increase.
Probably the worst such increase comes if the taxing authorities add anything to say the cost of a bottle of beer. Say a nickel is added. Do you know of a bar in the world that won't increase the price by at least a quarter, with higher end bars going up by 50 cents or a dollar because of the nickel more they must pay in taxes. It's simply how our capitalism works.
Sadly while the owner of the gas station may make more as the prices go up, the money paid to the workers in the station frequently don't, nor do the wages of all those handling the petroleum from the time it comes out of the ground till it's delivered to the station. Companies and their shareholders may be rewarded, but it's not often passed on to those doing the work, though management may get their bonuses.
Gary
Recent NWBO News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/03/2024 08:01:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:01:24 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/09/2024 09:06:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/08/2024 08:30:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/02/2024 02:42:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 11:49:38 PM
- Biophma Announces Exclusive In License for Dendritic Cell Technology, Sending Shares Higher • AllPennyStocks.com • 06/17/2024 04:40:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 09:11:16 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 06/03/2024 09:22:55 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 05/22/2024 08:13:36 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 09:04:57 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 03/01/2024 10:04:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/02/2023 01:31:35 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/16/2023 10:11:54 PM
- Epazz, Inc. (OTC Pink: EPAZ) ZenaDrone Demonstration to Defense Departments of UAE and Saudi Arabia • InvestorsHub NewsWire • 11/15/2023 12:19:31 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/09/2023 09:30:39 PM
- Epazz, Inc. (OTC Pink: EPAZ) US Navy Collaboration ZenaDrone 1000 • InvestorsHub NewsWire • 11/09/2023 01:00:34 PM
- Epazz, Inc. (OTC Pink: EPAZ) US Navy Collaboration ZenaDrone 1000 Extreme Weather Demo • InvestorsHub NewsWire • 11/07/2023 12:29:43 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM