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Post by jeffolie on Feb 4, 2013 16:16:25 GMT -6
Gas = 4% income, stagflation or screwflation? " ... Gasoline costs take biggest share of household income in three decades... almost 4 percent of pre-tax income, tying 2008 for the highest percentage in roughly 30 years." ... jeffolie predicts…SCREWFLATION: ... Energy expenses for homes, cars, electricity will rise compounded by additional taxes and fees. .... " ... I prefer screwflation over stagflation because of the regressive impact on middle and lower class families' standard of living and that they have no investments that rise with inflation or money printing and in fact usually have their wealth tied up in declining or negative home equity while the upper 20% of earners usually have investments that will rise in 2013 outside of their home equity ========================================= Gasoline costs take biggest share of household income in three decades 02/04/13 Trips to the gasoline pump in 2012 and 2008 took their biggest share of U.S. household income in several decades, according to the federal Energy Information Administration (EIA). The Energy Department’s statistical arm reported Monday that the average household spent $2,912 for gasoline in 2012, which makes up almost 4 percent of pre-tax income, tying 2008 for the highest percentage in roughly 30 years.Pump prices took center stage in White House races in 2008 and 2012, but gasoline expenditures as a share of household income remain lower they did than the early 1980s, when they were above 5 percent.Prices last year were elevated enough to push the share of household spending to the highest level in decades even though overall gasoline consumption has been declining for years. “Efficiency gains have accelerated in recent years, such that total U.S. gasoline consumption fell in 2011 to 134.2 billion gallons, its lowest level since 2001. However, at the same time, EIA's average city retail gasoline price rose 26.1 percent in 2011, and another 3.3 percent in 2012, when it reached $3.70 per gallon. The effect of the higher prices in 2011 and 2012 outweighed the effect of reduced consumption,” EIA reports. “As a result, expenditures increased to a record annual average of $2,655 per household in 2011, rising to an estimated $2,912 in 2012. The 26.1 percent yearly increase in 2011 was six times greater than the 3.4 percent rise in nominal household income. Additionally, the 3.3 percent estimated gasoline price rise in 2012 outpaced the 2.9 percent estimated increase in income,” the agency said. thehill.com/blogs/e2-wire/e2-wire/280873-fed-agency-2012-household-gasoline-costs-take-biggest-bite-in-decades==================================== jeffolie predicts…SCREWFLATION: everything the ‘average American family’ buys goes up in price and everything they own goes down in value. Taxes, fees, charges, special assessment districts from State, Local, etc governments will rise while services from them will decrease. Energy expenses for homes, cars, electricity will rise compounded by additional taxes and fees. Food prices will rise. Health care/insurance expenses will rise; College Tuition will rise; Mortgage/house payments will rise because interest rates will rise seasonally; Rents will rise. Food Stamp use will make new records. I prefer screwflation over stagflation because of the regressive impact on middle and lower class families' standard of living and that they have no investments that rise with inflation or money printing and in fact usually have their wealth tied up in declining or negative home equity while the upper 20% of earners usually have investments that will rise in 2013 outside of their home equity. Read more: www.unlawflcombatnt.proboards.com/index.cgi?board=general&action=display&thread=11891#ixzz2JyHnFoHo
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Post by jeffolie on Feb 4, 2013 16:40:01 GMT -6
Southern California gasoline prices soar 23 cents in a week Freddy Lozoga fills an underground tank at a service station in Los Angeles. The average price of regular gasoline jumped 23 cents in Southern California in the past week as refineries trimmed production because of maintenance. February 4, 2013 Expect a bit of a shock if you fill up your gas tanks in Southern California this week. The average price of a gallon of regular gasoline in the state has jumped 23.4 cents since last Monday, according to the AAA Fuel Gauge Report. Most of the spike has been driven by the state's southern counties. Los Angeles and Long Beach, for example, are averaging $4.017 a gallon, up 24.8 cents over the past week. Orange County gasoline is averaging $4.002 a gallon, up 26.1 cents since last Monday. The Southern California averages compare to $3.859 a gallon today in San Jose and $3.723 in the region around Modesto. So, what gives? "Refinery maintenance," said Denton Cinquegrana, executive editor of the Oil Price Information Service. OPIS collects prices daily from more than 100,000 retail outlets across the U.S. and supplies the AAA with its averages. "California has a lot more planned refinery maintenance than it usually has at this time of year," Cinquegrana said. "And most of that is concentrated in Southern California." Cinquegrana added that some of the maintenance was deferred from the fourth quarter of 2012, when refineries kept operating to boost supplies after California prices hit a record average of $4.671 a gallon in October. The bad timing about all of this is that it also figures to run in to the state's early switch to summer blend gasoline, which starts in March. That is much earlier than most of the rest of the nation. "It's also the summer blend that is more expensive," Cinquegrana said, "because it can't contain the cheaper, junk additives, like butane" that are used in colder weather, winter blends. "You could see Southern California prices getting back up to $4.25 by then," he said. www.latimes.com/business/autos/la-fi-hy-gasoline-prices-20130204,0,4553108.story
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Post by jeffolie on Feb 5, 2013 13:45:12 GMT -6
images.thetruthaboutcars.com/2013/02/gasoline.png[The Truth About Cars Blog] We Pay More For Gas Than Ever February 4, 2013 You think gas is finally getting cheaper? Cars that use less gas may be a bit more expensive, but save you money in the long run? Households in the United States spent a record amount on gasoline last year, the U.S. Energy Information Administration said on Monday. More of your income is going out and exhaust pipe than at any time since the 1980s. The average household expenditure on gasoline stood at $2,912 in 2012, the EIA said, approximately 4 percent of pre-tax income. “Although overall gasoline consumption has decreased in recent years, a rise in average gasoline prices has led to higher overall household gasoline expenditures,” the EIA told Reuters. www.thetruthaboutcars.com/2013/02/we-pay-more-for-gas-than-ever/
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Post by jeffolie on Feb 18, 2013 12:08:00 GMT -6
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Post by jeffolie on Feb 22, 2013 16:08:51 GMT -6
Gas Prices Up Nearly 60 Cents in One Month BEVERLY HILLS, Calif. (KTLA) — Southern California drivers are feeling the pain at the pump, amid the biggest every one-month rise in gas prices. The average price of a gallon of regular, unleaded gasoline in Los Angeles is $4.32. That’s 11 cents higher than last week and 57 cents higher than it was last month. In Orange County, the average price per gallon is $4.31, a jump of 59 cents since a month ago. In the Inland Empire, you’ll pay an average of $4.38 for a gallon of regular gasoline — 58 cents higher than last month And in Ventura, the average price is $4.30, again a jump of nearly 60 cents. According to AAA, drivers in Los Angeles are now paying nearly as much as drivers on the island of Maui, which has never happened before. Analysts say one of the reasons gas is so expensive in Southern California is partly because of the switch from the winter blend to the more expensive summer blend. Refinery issues are also contributing to the rising prices at the pump. Gas prices traditionally climb from February through Memorial Day, but ever this fast. Some analysts predict that gas prices will peak in about April and then slowly come back down. ktla.com/2013/02/22/gas-prices-up-nearly-60-cents-in-one-month/#axzz2LfUWsJcH
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Post by jeffolie on Feb 27, 2013 17:16:36 GMT -6
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Post by jeffolie on Mar 3, 2013 11:25:36 GMT -6
California raises gasoline tax by 3.5 cents a gallon 03/01/2013 Motorists will get smacked in the wallet this summer after state regulators boosted the gasoline tax tax by 3.5 cents a gallon. The state Board of Equalization voted three to two on Thursday to increase the excise tax on gasoline 9.7 percent to 39.5 cents a gallon from 36 cents on July 1. Westlake Village resident Elizabeth Langworthy, the manager of a law office, was not happy to hear about a higher gasoline tax. "It makes me want to pull my hair out," she said while paying $58.44 for the 15 gallons she just pumped into the tank of her 2010 Lexus on Friday. "I feel we are getting taxed to death in California and I'd like to see something for it. If you are going to tax me to death I want to see the benefits." The tax will be a burden on Langworthy because she fills up about three times a week for work and to cart her family around. The increase stems from two bills signed by former Gov. Arnold Schwarzenegger in 2010 to help combat the state's budget crisis. One reduced the sales tax on gasoline to 2.25 percent and the other increased the excise tax to 35.3 cents a gallon. The legislation also mandated that the board adjust the excise tax annually to help make up for lost sales tax revenue. Sales tax revenue goes into the government's general funds and the excise tax money pays for transportation projects. The increase is expected to generate $500 million in revenue. It will increase California's overall gasoline tax to more than 70 cents a gallon, the highest in the nation said John Coupal, president of the Howard Jarvis Taxpayers Association. "We think it's excessive, Coupal said. "We already have the highest sales tax rate and income tax rate in America. This is ridiculous." The over all financial hit to the pocket book might not be that big, though. With the increase, a driver who travels 15,000 miles a year at 20 miles per gallon would pay about $26 in additional taxes, according to the Associated Press. The board said that while the excise tax will increase in cannot predict the price of gasoline when the tax takes effect on July 1. Board Chairman Jerome E. Horton said that the agency had no choice but to increase the tax. "The legislature mandated that we equalize the sales and excise taxes to avoid a net increase in taxes," Horton said in a statement. "We could protest the legislation and not make the rate adjustment, however we would be violating law and arguably exposing taxpayers to even higher taxes in the future." Board member George Runner of Lancaster cast one of the dissenting votes. He said that the tax increase, based on revenue projections from the staffs of the board and Department of Finance, is too big. The past two increases were less than half a cent. "It makes no sense with gas prices at the height they are to add more money on top of that. We had to make an adjustment but we did not have to make it 3.5 cents," he said. Gas prices have been on the upswing but some relief may be in sight. "They have been going up pretty much since Dec. 28 but they really started shooting up at the end of January and now they are coming down again," said Marie Montgomery, spokesman for the Automobile Club of Southern California. On Friday a gallon of regular in the Los Angeles metro area averaged $4.318, down from $4.323 on Thursday. The recent high was $4.325 on Feb 26. Inland Empire prices flattened out with regular gasoline averaging $4.324 a gallon on Friday, down from $4.325 a day earlier. www.presstelegram.com/news/ci_22701371/california-raises-gasoline-tax-by-3-5-cents
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Post by jeffolie on Mar 3, 2013 11:26:57 GMT -6
" .... California raises gasoline tax by 3.5 cents a gallon ... It will increase California's overall gasoline tax to more than 70 cents a gallon, the highest in the nation SCREWFLATION: ... Energy expenses for homes, cars, electricity will rise compounded by additional taxes and fees. .... Gas = 4% income, stagflation or screwflation? " ... Gasoline costs take biggest share of household income in three decades... almost 4 percent of pre-tax income, tying 2008 for the highest percentage in roughly 30 years." ... jeffolie predicts…SCREWFLATION: ... Energy expenses for homes, cars, electricity will rise compounded by additional taxes and fees. .... " ... I prefer screwflation over stagflation because of the regressive impact on middle and lower class families' standard of living and that they have no investments that rise with inflation or money printing and in fact usually have their wealth tied up in declining or negative home equity while the upper 20% of earners usually have investments that will rise in 2013 outside of their home equity ========================================= California raises gasoline tax by 3.5 cents a gallon03/01/2013 Motorists will get smacked in the wallet this summer after state regulators boosted the gasoline tax tax by 3.5 cents a gallon. The state Board of Equalization voted three to two on Thursday to increase the excise tax on gasoline 9.7 percent to 39.5 cents a gallon from 36 cents on July 1. Westlake Village resident Elizabeth Langworthy, the manager of a law office, was not happy to hear about a higher gasoline tax. "It makes me want to pull my hair out," she said while paying $58.44 for the 15 gallons she just pumped into the tank of her 2010 Lexus on Friday. "I feel we are getting taxed to death in California and I'd like to see something for it. If you are going to tax me to death I want to see the benefits." The tax will be a burden on Langworthy because she fills up about three times a week for work and to cart her family around. The increase stems from two bills signed by former Gov. Arnold Schwarzenegger in 2010 to help combat the state's budget crisis. One reduced the sales tax on gasoline to 2.25 percent and the other increased the excise tax to 35.3 cents a gallon. The legislation also mandated that the board adjust the excise tax annually to help make up for lost sales tax revenue. Sales tax revenue goes into the government's general funds and the excise tax money pays for transportation projects. The increase is expected to generate $500 million in revenue. It will increase California's overall gasoline tax to more than 70 cents a gallon, the highest in the nation said John Coupal, president of the Howard Jarvis Taxpayers Association. "We think it's excessive, Coupal said. "We already have the highest sales tax rate and income tax rate in America. This is ridiculous." The over all financial hit to the pocket book might not be that big, though. With the increase, a driver who travels 15,000 miles a year at 20 miles per gallon would pay about $26 in additional taxes, according to the Associated Press. The board said that while the excise tax will increase in cannot predict the price of gasoline when the tax takes effect on July 1. Board Chairman Jerome E. Horton said that the agency had no choice but to increase the tax. "The legislature mandated that we equalize the sales and excise taxes to avoid a net increase in taxes," Horton said in a statement. "We could protest the legislation and not make the rate adjustment, however we would be violating law and arguably exposing taxpayers to even higher taxes in the future." Board member George Runner of Lancaster cast one of the dissenting votes. He said that the tax increase, based on revenue projections from the staffs of the board and Department of Finance, is too big. The past two increases were less than half a cent. "It makes no sense with gas prices at the height they are to add more money on top of that. We had to make an adjustment but we did not have to make it 3.5 cents," he said. Gas prices have been on the upswing but some relief may be in sight. "They have been going up pretty much since Dec. 28 but they really started shooting up at the end of January and now they are coming down again," said Marie Montgomery, spokesman for the Automobile Club of Southern California. On Friday a gallon of regular in the Los Angeles metro area averaged $4.318, down from $4.323 on Thursday. The recent high was $4.325 on Feb 26. Inland Empire prices flattened out with regular gasoline averaging $4.324 a gallon on Friday, down from $4.325 a day earlier. www.presstelegram.com/news/ci_22701371/california-raises-gasoline-tax-by-3-5-cents
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Post by jeffolie on Mar 3, 2013 11:28:55 GMT -6
Gas = 4% income, stagflation or screwflation? " ... Gasoline costs take biggest share of household income in three decades... almost 4 percent of pre-tax income, tying 2008 for the highest percentage in roughly 30 years." ... jeffolie predicts…SCREWFLATION: ... Energy expenses for homes, cars, electricity will rise compounded by additional taxes and fees. .... " ... I prefer screwflation over stagflation because of the regressive impact on middle and lower class families' standard of living and that they have no investments that rise with inflation or money printing and in fact usually have their wealth tied up in declining or negative home equity while the upper 20% of earners usually have investments that will rise in 2013 outside of their home equity ========================================= California raises gasoline tax by 3.5 cents a gallon 03/01/2013 Motorists will get smacked in the wallet this summer after state regulators boosted the gasoline tax tax by 3.5 cents a gallon. The state Board of Equalization voted three to two on Thursday to increase the excise tax on gasoline 9.7 percent to 39.5 cents a gallon from 36 cents on July 1. Westlake Village resident Elizabeth Langworthy, the manager of a law office, was not happy to hear about a higher gasoline tax. "It makes me want to pull my hair out," she said while paying $58.44 for the 15 gallons she just pumped into the tank of her 2010 Lexus on Friday. "I feel we are getting taxed to death in California and I'd like to see something for it. If you are going to tax me to death I want to see the benefits." The tax will be a burden on Langworthy because she fills up about three times a week for work and to cart her family around. The increase stems from two bills signed by former Gov. Arnold Schwarzenegger in 2010 to help combat the state's budget crisis. One reduced the sales tax on gasoline to 2.25 percent and the other increased the excise tax to 35.3 cents a gallon. The legislation also mandated that the board adjust the excise tax annually to help make up for lost sales tax revenue. Sales tax revenue goes into the government's general funds and the excise tax money pays for transportation projects. The increase is expected to generate $500 million in revenue. It will increase California's overall gasoline tax to more than 70 cents a gallon, the highest in the nation said John Coupal, president of the Howard Jarvis Taxpayers Association. "We think it's excessive, Coupal said. "We already have the highest sales tax rate and income tax rate in America. This is ridiculous." The over all financial hit to the pocket book might not be that big, though. With the increase, a driver who travels 15,000 miles a year at 20 miles per gallon would pay about $26 in additional taxes, according to the Associated Press. The board said that while the excise tax will increase in cannot predict the price of gasoline when the tax takes effect on July 1. Board Chairman Jerome E. Horton said that the agency had no choice but to increase the tax. "The legislature mandated that we equalize the sales and excise taxes to avoid a net increase in taxes," Horton said in a statement. "We could protest the legislation and not make the rate adjustment, however we would be violating law and arguably exposing taxpayers to even higher taxes in the future." Board member George Runner of Lancaster cast one of the dissenting votes. He said that the tax increase, based on revenue projections from the staffs of the board and Department of Finance, is too big. The past two increases were less than half a cent. "It makes no sense with gas prices at the height they are to add more money on top of that. We had to make an adjustment but we did not have to make it 3.5 cents," he said. Gas prices have been on the upswing but some relief may be in sight. "They have been going up pretty much since Dec. 28 but they really started shooting up at the end of January and now they are coming down again," said Marie Montgomery, spokesman for the Automobile Club of Southern California. On Friday a gallon of regular in the Los Angeles metro area averaged $4.318, down from $4.323 on Thursday. The recent high was $4.325 on Feb 26. Inland Empire prices flattened out with regular gasoline averaging $4.324 a gallon on Friday, down from $4.325 a day earlier. www.presstelegram.com/news/ci_22701371/california-raises-gasoline-tax-by-3-5-cents==================================== jeffolie predicts…SCREWFLATION: everything the ‘average American family’ buys goes up in price and everything they own goes down in value. Taxes, fees, charges, special assessment districts from State, Local, etc governments will rise while services from them will decrease. Energy expenses for homes, cars, electricity will rise compounded by additional taxes and fees. Food prices will rise. Health care/insurance expenses will rise; College Tuition will rise; Mortgage/house payments will rise because interest rates will rise seasonally; Rents will rise. Food Stamp use will make new records. I prefer screwflation over stagflation because of the regressive impact on middle and lower class families' standard of living and that they have no investments that rise with inflation or money printing and in fact usually have their wealth tied up in declining or negative home equity while the upper 20% of earners usually have investments that will rise in 2013 outside of their home equity. Read more: www.unlawflcombatnt.proboards.com/index.cgi?board=general&action=display&thread=11891#ixzz2JyHnFoHo
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Post by jeffolie on Mar 7, 2013 14:40:39 GMT -6
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Post by jeffolie on Mar 9, 2013 16:21:07 GMT -6
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