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titaniumsalute

(4,742 posts)
Thu May 10, 2018, 07:30 AM May 2018

So the price of oil increasing could easily wipe out any tax cut advantages

I wake up doing math today in my head...

A. The average person making $50,000 per year was supposed to save around $100 per month on the tax cuts.
B. The average person drives about 1,000 miles per month.
C. The average vehicle gets about a 24 miles per gallon ratio.
D. So the 42 gallons per month with an increase in .75 cents per gallon is $32 per month. 32% of that person making $50,000 is poof! Gone. (Someone making $25,000 is supposed seeing about $40 per month saving. Theirs is nearly 100% gone.)
E. But fuel increases are not just for drivers. Airline tickets increase, trucks hauling goods increase, trains burning diesel increases, oil is used to make plastics/polymers, that increases.

Therefore if ANYONE refers to the Republicans creating these tax cuts you simply explain that those "Savings" are being wipied out by Cheetos impeccably bad foreign policy decisions resulting in increased prices at the pumps and beyond.

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So the price of oil increasing could easily wipe out any tax cut advantages (Original Post) titaniumsalute May 2018 OP
Yup Sherman A1 May 2018 #1
It won't even cover mercuryblues May 2018 #3
Of course not, nor was it intended to do so. Sherman A1 May 2018 #6
It's not just oil. Has anyone else noted the price of groceries lately? Vinca May 2018 #2
Anything that goes on a store shelf Sherman A1 May 2018 #5
You know what's coming in response to that: no_hypocrisy May 2018 #4
People will fume get the red out May 2018 #7
And Rightly Or Wrongly. . . ProfessorGAC May 2018 #8
And, coincidentally, it will also help Russia to get out of debt. (Or was that the plan altogether?) TheBlackAdder May 2018 #9
My thinking from the very beginning of the Trump era. Sophia4 May 2018 #22
The masses have gone from miniscule tax cuts to tax increases and then some more! democratisphere May 2018 #10
Who got tax cut advantages besides octoberlib May 2018 #11
That is only the tip of the iceberg in the cost of living increases. world wide wally May 2018 #12
This is Democrats counter-argument against Republicans bragging about taxcuts and economy kentuck May 2018 #13
For many it already has wiped out their tax cut. George II May 2018 #14
I'll gladly take the extra money every week - oil was going up last couple years anyway! jmg257 May 2018 #15
Of course, the taxcuts have nothing to do with old folks in LA getting kicked out of nursing homes.. kentuck May 2018 #16
Good points. But I'll take it now - I can really use it! jmg257 May 2018 #18
Just because we have a few dollars more does not mean we can buy more with it. kentuck May 2018 #19
Explaining math to a Trump apologist? Good luck, my friend. John Fante May 2018 #26
The price of gas has been steady for about 3 years titaniumsalute May 2018 #20
Do you mean my refund might be less?? kentuck May 2018 #21
LOl yeah titaniumsalute May 2018 #24
Oil is going to go up a lot more. Sophia4 May 2018 #23
Don't worry, the wealthy will trickle it down all over us IronLionZion May 2018 #17
Basic math TeamPooka May 2018 #25

Sherman A1

(38,958 posts)
1. Yup
Thu May 10, 2018, 07:33 AM
May 2018

Your minuscule tax cut will pass through your hands and go directly to the oil companies. Doesn’t take much figuring on this one.

mercuryblues

(14,530 posts)
3. It won't even cover
Thu May 10, 2018, 07:43 AM
May 2018

the increase is premiums on health insurance. Which more people will need now that regulations on chemicals are being repealed.

Sherman A1

(38,958 posts)
6. Of course not, nor was it intended to do so.
Thu May 10, 2018, 07:52 AM
May 2018

It was a money grab by the 1% as we are well aware.

They got theirs and the rest of us can simply fend for ourselves using that personal responsibility mantra.

Vinca

(50,261 posts)
2. It's not just oil. Has anyone else noted the price of groceries lately?
Thu May 10, 2018, 07:36 AM
May 2018

The cost of "the basics" is rising through the roof. As for the "tax cut," many of us (who are far from rich) have discovered ours will be going up. But, maybe when the Trumphumpers can't afford a full tank of gas it will hit home that Don isn't the second coming after all.

Sherman A1

(38,958 posts)
5. Anything that goes on a store shelf
Thu May 10, 2018, 07:49 AM
May 2018

Was first on the back of a truck. Oil prices and increases in other sectors all ripple through the economy.

ProfessorGAC

(64,995 posts)
8. And Rightly Or Wrongly. . .
Thu May 10, 2018, 08:26 AM
May 2018

. . .presidents get the blame when gas prices go up. Think Carter, Reagan and Bush 1986 to 1990, Silverspoon in the mid 2 naughts, Obama in 2010. They don't get much credit when they go down, but they get blamed when they go up.

These increases ought to be really popular with those coal miners still looking for jobs.

TheBlackAdder

(28,183 posts)
9. And, coincidentally, it will also help Russia to get out of debt. (Or was that the plan altogether?)
Thu May 10, 2018, 09:12 AM
May 2018

Perhaps Russia and Assad teamed up to fire missiles at Israel to blame it on the Iranians.

 

Sophia4

(3,515 posts)
22. My thinking from the very beginning of the Trump era.
Thu May 10, 2018, 12:49 PM
May 2018

The reason the Russians wanted Trump to win was that they do not want the US to reduce oil and gas and fossil fuel consumption.

They would like to drill in the Arctic too.

That is what I think it is all about.

octoberlib

(14,971 posts)
11. Who got tax cut advantages besides
Thu May 10, 2018, 09:19 AM
May 2018

millionaires and billionaires? They’re not gonna care about the price of oil going up.

world wide wally

(21,740 posts)
12. That is only the tip of the iceberg in the cost of living increases.
Thu May 10, 2018, 10:07 AM
May 2018

Wait till the cost of tariffs take hold along with more expensive health insurance, the failing infrastructure, and environmental disasters, and the loss of cheap labor for starters

kentuck

(111,078 posts)
13. This is Democrats counter-argument against Republicans bragging about taxcuts and economy
Thu May 10, 2018, 10:18 AM
May 2018

People need to have arguments simplified to a point they can understand. They can understand when they are paying more for gas, there is less money for everything else. They understand when their when their minimal taxcut is wiped out and when the price of everything else is going up, including food. That is a basic explanation that must be made to the voters of America.

jmg257

(11,996 posts)
15. I'll gladly take the extra money every week - oil was going up last couple years anyway!
Thu May 10, 2018, 10:21 AM
May 2018

everyone can send me theirs if they don't want it!

kentuck

(111,078 posts)
16. Of course, the taxcuts have nothing to do with old folks in LA getting kicked out of nursing homes..
Thu May 10, 2018, 10:31 AM
May 2018

...or school children losing their lunches at schools, just because the Republicans have to make cuts because the deficit is too big because they gave a big taxcut to the wealthy and a pittance to everyone else. Pay me now or pay me later...

kentuck

(111,078 posts)
19. Just because we have a few dollars more does not mean we can buy more with it.
Thu May 10, 2018, 10:39 AM
May 2018

If the price of everything goes up, we have less money, not more, even with a taxcut.

titaniumsalute

(4,742 posts)
20. The price of gas has been steady for about 3 years
Thu May 10, 2018, 10:40 AM
May 2018

It has gone up .75 cents here in the past 4 weeks. Not sure where you live but it has gone up dramatically in Ohio. Also, you don't actually know if you make out or not on the tax cuts until you file the 2018 taxes.

titaniumsalute

(4,742 posts)
24. LOl yeah
Thu May 10, 2018, 01:07 PM
May 2018

I actually was advised by my accountant (who is a Conservative) to keep the same withholding % as 2017 and if I get a really big refund then to go ahead and lower the paycheck withholding levels. He must seem to think that my lack of deductions for 2018 will hurt more than the lower withholding will help.

 

Sophia4

(3,515 posts)
23. Oil is going to go up a lot more.
Thu May 10, 2018, 12:54 PM
May 2018

Watch and see what countries Trump really likes.

Saudi Arabia is one. Russia another. He loves the oil producing countries.

By the way, Nigeria also is an oil producing country, and their head of state just visited the White House.

It has been my opinion all along that Russia wanted to help Trump win the White House because they want his pro-fossil fuel, pro-oil philosophy in there.

Just watch what happens.

In the meantime, California is relying more and more on solar and wind, and that is good.

I once had a job doing research and writing for an oil company. It was long ago, but I kind of learned what to watch for. Trump dropped out of the Paris agreement. His administration is pro-fossil fuels. Just watch. Just watch.

Cutting back on fossil fuel use is where individual Democrats can foil Trump the most.

IronLionZion

(45,425 posts)
17. Don't worry, the wealthy will trickle it down all over us
Thu May 10, 2018, 10:34 AM
May 2018

just like they always do. We'll grow old and die waiting for our job creators to use their tax cuts to raise wages and hire more.

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